At a glance
American International Group Inc is worth $43.09B, about 15 times its fiscal 2025 earnings. Revenue fell 1.7% to $26.77B in fiscal 2025, with 11.6% kept as profit; over 3 years it has grown 3.7% a year. It pays a 2.31% dividend yield, raised every year for at least 3 years, and returned $28.28B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +6.9% over the past year with dividends reinvested and +9.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 61.9% in the 2020 crash (S&P 500: 33.7%) and 25.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 3 months after the lows.
The business in plain English
American International Group (AIG) is a global property and casualty insurer. Through its General Insurance segment, it covers businesses against property damage, workplace injuries, liability lawsuits and financial risks. Its product lines include property and special risks, workers' compensation, excess casualty (liability coverage that pays after other policies are used up) and financial lines. It also sells personal insurance to individuals in the U.S., UK/Europe and Japan. Results outside General Insurance are reported as Other Operations.
Like other insurers, AIG collects premiums up front, pays claims later and invests the money in between. It makes an underwriting profit when claims and expenses cost less than the premiums it collects. The combined ratio, which is claims and expenses as a percentage of premiums, tracks this: below 100 means a profit. For the year ended December 31, 2025, AIG's combined ratio was 90.1 and underwriting income was $2.3 billion, up 22%. Total revenue was about $26.8 billion, down 1.7% from the prior year.
Revenue was split almost evenly by region in 2025: international business produced 52.6% and North America 47.4%. In 2025 AIG acquired the renewal rights to Everest Group's global retail commercial portfolios, which gives it the chance to offer AIG policies to those clients when their policies renew. It also announced investments in specialty insurer Convex and asset manager Onex.
Price history
The interactive chart needs JavaScript.
AIG +6.9% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| International | $14.08B | 52.6% |
| North America | $12.70B | 47.4% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $7.08B, down 0.1% from a year earlier, and net income was $948.0M (-17.1%).
- For fiscal 2025, revenue was $26.77B (-1.7% year over year; -3.7% a year from FY2022 to FY2025) with a 11.6% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2025) | -3.7% weak |
|---|---|
| Return on equity (FY2025) | 7.5% weak |
| Return on assets (FY2025) | 1.9% weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $43.74B | $-5.94B | $685.0M |
| FY2021 | $52.16B | $10.37B | $5.88B |
| FY2022 | $30.00B | $10.23B | $3.92B |
| FY2023 | $27.94B | $3.64B | $6.00B |
| FY2024 | $27.25B | $-1.40B | — |
| FY2025 | $26.77B | $3.10B | — |
Valuation snapshot
| Market value | $43.09B |
|---|---|
| P/E ratio | 15.2 |
| Dividend yield | 2.31% |
Rank among 1514 US companies
Market value at each year end
American International Group’s market value went from $67.08B at the end of 2016 to $43.09B on Nov 2, 2026, down 36%; since the end of 2025 it is down 7%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $43.09B | -6.7% |
| 2025 | $46.16B | +1.7% |
| 2024 | $45.41B | -4.5% |
| 2023 | $47.56B | +1.2% |
| 2022 | $46.99B | -0.5% |
| 2021 | $47.21B | +44.7% |
| 2020 | $32.62B | -27.0% |
| 2019 | $44.65B | +28.1% |
| 2018 | $34.86B | -34.9% |
| 2017 | $53.56B | -20.2% |
| 2016 | $67.08B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| AIG price data to Nov 2, 2026 | -1.8% | +6.9% | +11.0% | +9.0% | +5.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -1.8% |
| 2025 | +20.0% |
| 2024 | +9.8% |
| 2023 | +9.7% |
| 2022 | +13.8% |
| 2021 | +53.9% |
| 2020 | -23.3% |
| 2019 | +33.6% |
| 2018 | -32.1% |
| 2017 | -6.9% |
| 2016 | +7.8% |
| 2015 | +12.2% |
| 2014 | +10.8% |
| 2013 | +45.2% |
| 2012 | +52.2% |
| 2011 | -52.0% |
| 2010 | +92.2% |
| 2009 | -4.5% |
| 2008 | -97.3% |
| 2007 | -17.7% |
| 2006 | +6.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 99.5% over that stretch · deepest drop along the way 99.5%, not recovered by the end of the data |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 60.5% over that stretch · deepest drop along the way 61.9%, back to its old high 11.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 13.2% over that stretch · deepest drop along the way 25.5%, back to its old high 3 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 3 sales ($18.1M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 12, 2026 | Peter Zaffino Executive Chair, Director | sell (plan) | $15.3M |
| Aug 13, 2026 | Peter Zaffino Executive Chair, Director | sell (plan) | $2.8M |
| Aug 13, 2026 | Peter Zaffino Executive Chair, Director | sell (plan) | $15K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.52% | Mar 31, 2026 |
| BlackRock, Inc. | 6.9% | Mar 31, 2025 |
| Wellington Management Group LLP | 5.3% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.1% | Mar 31, 2026 |
| Capital Research Global Investors | 4.9% | Dec 31, 2025 |
ETFs with the most weight in AIG
| KBWP Invesco KBW Property & Casualty Insurance ETF | 8.15% |
| IAK iShares U.S. Insurance ETF | 4.63% |
| CGDV Capital Group Dividend Value ETF | 4.48% |
| OAKM Oakmark U.S. Large Cap ETF | 4.24% |
| LSAT Leadershares Alphafactor Tactical Focused ETF | 3.33% |
| PVAL Putnam Focused Large Cap Value ETF | 3.07% |
| CNAV Mohr Company Nav ETF | 2.52% |
| PKW Invesco BuyBack Achievers™ ETF | 2.46% |
What could go wrong
- Leftover exposure to Corebridge shares. AIG still holds Corebridge stock, so swings in Corebridge's share price can hit AIG's results. AIG also warns that the benefits it expects from selling Corebridge shares may not materialize.
- Big new deals may not pay off. AIG announced an investment of about $2.1 billion in specialty insurer Convex and a $646 million, 9.9% stake in asset manager Onex, and acquired Everest's renewal rights. Expected benefits may fall short.
- Claims could exceed the money set aside. Reserves are AIG's estimates of claims still to be paid. They are hardest to judge in long-tail lines like workers' compensation and excess casualty, where claims can surface years later. Shortfalls hit profits.
- Catastrophes, mass torts and climate change. Natural disasters and man-made events can cause large, sudden losses and pressure AIG's ratings. Mass torts (many lawsuits over the same harm) and climate change add further uncertainty.
- Investments lean heavily on outside managers. AIG invests premiums until claims are paid. Outside managers run most of that portfolio, which is concentrated in certain parts of the economy. Defaults or interest-rate swings could hurt income and values.
- Reinsurance could get pricier or fall short. Reinsurance is insurance AIG purchases to pass on part of its risk. If it becomes too expensive or unavailable, or a reinsurer fails to pay, AIG keeps more of the losses.
Recent events
- Other company announcement
- Executive or board change
- Executive or board change
- Quarterly results released; Other company announcement
- Executive or board change; Shareholder vote results
- Quarterly results released; Other company announcement
- Executive or board change
- Executive or board change
- Quarterly results released; Other company announcement
- Executive or board change
For income and retirement investors
AIG pays a dividend and has raised it three years in a row. Dividends per share held at $1.28 in 2021 and 2022, then rose to $1.40, $1.56 and $1.75 from 2023 through 2025, despite a 2024 net loss. The 2025 payout used about 31.5% of earnings, and the dividend yield was 2.38% as of October 28, 2026. Buybacks are far larger: AIG spent about $23.2 billion repurchasing shares in fiscal 2021–2025, compared with $5.0 billion on dividends, and its share count fell 38.9% between August 2021 and July 2026.
The shares have fallen hard before. From October 2007 to March 2009 they dropped 99.5%, and they had not regained that peak as of October 28, 2026. They fell 61.9% in the 2020 COVID crash and took about 12 months to recover. In the 2022 bear market they fell 25.5% and recovered in about 3 months. A single stock like AIG carries more risk than a diversified fund spread across many companies.
Questions investors ask
How does AIG make money?
AIG makes money mainly by selling property and casualty insurance and investing premiums until claims are paid. Its General Insurance segment covers businesses for property damage, workers' compensation, liability and financial risks, and sells personal insurance in the U.S., UK/Europe and Japan. For the year ended December 31, 2025, revenue was about $26.8 billion: 52.6% international and 47.4% North America. Underwriting income, the profit left from premiums after claims and expenses, was $2.3 billion, with a combined ratio of 90.1.
Does AIG raise its dividend every year?
No, not every year, but it has raised its dividend three years in a row. Dividends per share were $1.28 in both 2021 and 2022, then $1.40 in 2023, $1.56 in 2024 and $1.75 in 2025. The 2025 payout used about 31.5% of earnings, and the dividend yield was 2.38% as of October 28, 2026. A three-year streak is short next to companies with decades of annual increases, and AIG spends far more on buybacks than on dividends.
How big are AIG's share buybacks?
They are very large compared with its dividend. In 2025 AIG repurchased about $5.8 billion of stock, cutting its outstanding shares by 11%, while paying about $1.0 billion in dividends. Over fiscal 2021–2025, buybacks totaled about $23.2 billion. The share count fell from about 855 million in August 2021 to about 523 million in July 2026, a 38.9% drop. Fewer shares give each remaining share a bigger slice of profits, but buybacks are flexible and can shrink if the company needs capital elsewhere.
Did AIG stock ever recover from the 2008 crash?
No. AIG shares fell 99.5% between October 9, 2007 and March 5, 2009, and had not regained that peak as of October 28, 2026. Over the full 21 years of price history, the share price was down 9.4%. Later stretches have been better: as of the same date, the price rose about 8.4% a year over five years and 5.3% a year over ten years. These figures are based on the share price alone.
Is AIG profitable?
Yes, in its latest full year. AIG earned net income of about $3.1 billion, or $5.43 per diluted share, for the year ended December 31, 2025, after a net loss of about $1.4 billion in 2024. Return on equity, which is profit as a share of shareholders' capital, was 7.5%. AIG's adjusted version, core operating return on equity, was 11.1%. For the quarter ended June 30, 2026, net income was $948 million, down 17.1% from a year earlier. As of October 28, 2026, the stock traded at 14.7 times 2025 earnings.