The year-over-year increase was primarily due to higher underwriting income and net investment income in General Insurance, partially offset by changes in the fair value of AIG's investments in Corebridge Financial, Inc. (Corebridge) and equity securities.
AATI was USD 1.1 billion for the first quarter of 2026, compared to USD 702 million in the prior year quarter, reflecting higher underwriting income and higher net investment income in General Insurance.
Total net investment income for the first quarter of 2026 was USD 712 million, down 36% from USD 1.1 billion in the prior year quarter, primarily due to changes in the fair value of AIG's investments in Corebridge and equity securities, partially offset by higher income on available-for-sale fixed maturity securities. Total net investment income on an APTI basis was USD 915 million, an increase of 8% from USD 845 million in the prior year quarter. Net investment income attributed to General Insurance was up 17% from the prior year quarter.
ROE and Core Operating ROE were 7.5% and 12.2%, respectively, in the first quarter of 2026.
“AIG entered 2026 with significant momentum and delivered outstanding first quarter results, highlighting the strength of our underwriting capabilities and sustained earnings momentum across our businesses. The adjusted after-tax income per diluted share was USD 2.11 for the quarter, an 80% increase year-over-year, and Core Operating ROE was 12.2%”, said Peter Zaffino, AIG Chairman & Chief Executive Officer.
“We delivered impressive top-line growth with net premiums written increasing 24% year-over-year on a reported basis or 18% on a constant dollar basis. North America Commercial increased 36% year-over-year, International Commercial increased 12% and Global Personal increased 11%, all on a constant dollar basis. All three segments performed exceptionally well, supported by our recent strategic transactions, favorable January 1 reinsurance renewal outcomes and profitable organic growth”, Peter Zaffino added.
“Looking ahead, we are confident in our ability to navigate an increasingly complex global risk landscape while continuing to deliver disciplined, profitable growth, and we remain on track to meet or exceed the financial objectives that we outlined at our Investor Day in March 2025. Our ability to consistently deliver strong financial results while positioning AIG for long-term success is a direct result of our incredible colleagues around the world and their extraordinary effort, commitment and capacity to execute”, AIG Chairman & Chief Executive Officer emphasized.
Full report can be found here.
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