AIG reports second quarter 2022 results
Authored by AIG
- General Insurance combined ratio of 87.4% improved by 5.1 points from the prior year quarter and was the first sub-90% combined ratio in over fifteen years
- General Insurance adjusted accident year combined ratio* of 88.5% improved by 2.6 points from the prior year quarter
- Global Commercial Lines adjusted accident year combined ratio* of 85.3% improved by 4.0 points from the prior year quarter
- Global Commercial Lines Net Premiums Written (NPW) growth of 5% (8% on a constant dollar basis)
- Life and Retirement posted its second consecutive quarter with more than $1.3 billion in fixed annuity deposits and overall positive net flows
- Net income per diluted common share was $3.78 compared to $0.11 in the prior year quarter
- Adjusted after-tax income* (AATI) per diluted common share of $1.19 compared to $1.52 in the prior year quarter, driven by a 73% increase in General Insurance underwriting income, offset by lower alternative investment income
- Repurchased $1.7 billion of AIG common stock in the second quarter and $3.1 billion as of June 30, 2022
- Redeemed and repurchased $7.6 billion in aggregate principal amount of debt
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About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
In the UK, AIG is one of the largest companies specialising in the UK business insurance market. With offices throughout the country, we insure many of the UK’s top businesses, thousands of mid-sized and smaller companies, as well as many public sector organisations and millions of individuals.
With more than 60 years’ experience in the UK we have established an enviable reputation as a dynamic organisation with great cultural diversity. We strive to offer the most innovative solutions for our clients and are committed to helping our clients and our communities Reduce Risk, Recover from Setbacks and Realize Dreams.