American International Group, Inc. AIG

FinancialsInsuranceUnited States of America

Last close 81.90 USD on Nov 1, 2026, −2.4% year to date

Quant rating

Quant rating B Rank 316 of 799 in Financials

Growth C 536 of 799
Valuation D 620 of 799
Quality C 348 of 799
Revisions B 154 of 799
Momentum B 315 of 799

Wall Street consensus Hold (2.54)Average target 84.82 USD +3.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 42.8B
Enterprise value: 50.5B
52-week range: 71.25 – 87.29
3-year range: 62.05 – 87.72
Dividend yield: 2.44%
Beta (5 years): 0.51
Shares outstanding: 523M
Next earnings: Nov 3, 2026

About the company

American International Group, Inc. is a global insurance company. It provides insurance solutions that help businesses and individuals in over 200 countries and jurisdictions protect their assets and manage risks through its operations, licenses and authorizations and network partners. Its segment includes General Insurance and Other Operations. General Insurance business includes its three segments, including North America Commercial, International Commercial and Global Personal. The North America Commercial consists of insurance businesses in the United States, Canada and Bermuda. The International Commercial consists of insurance businesses in Japan, the United Kingdom, Europe, Middle East and Africa, Asia Pacific, Latin America and Caribbean and China. The North America and International Commercial segment products include property and short tail, casualty, financial lines and global specialty. Global Personal segment products include global accident and health and personal lines.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	23,762	23,544	25,570	26,799	35,274	–
Revenue growth	0.9%	−7.9%	−4.6%	−24.0%	9.1%	−6.0%
EPS (basic, normalized)	7.09	4.95	6.79	4.55	5.12	–
EPS growth	43.2%	−27.1%	49.2%	−11.1%	–	–
Gross margin	–	–	–	–	–	–
Net margin	11.6%	8.1%	8.9%	6.1%	19.8%	10.9%
ROE	9.7%	7.4%	14.5%	19.9%	6.6%	11.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	9,099
Net debt (mil)	–
Total equity (mil)	40,606
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	23,762	+0.9%	2.1x	76.44	+6.9%	1.1x	7.09	+43.2%	11.6x
2026	28,904	+21.6%	1.7x	79.74	+4.3%	1.0x	8.10	+14.2%	10.1x
2027	31,274	+8.2%	1.6x	85.65	+7.4%	1.0x	8.83	+9.1%	9.3x
2028	32,510	+4.0%	1.6x	93.15	+8.8%	0.9x	9.56	+8.2%	8.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	28,904	0.0%	+0.3%	+0.4%	8.10	+0.6%	+1.3%	+2.6%
2027	31,274	0.0%	+0.2%	+1.0%	8.83	+0.3%	−0.2%	−0.2%
2028	32,510	+0.1%	+1.4%	+2.7%	9.56	+0.5%	+1.0%	+0.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	12,462	6,560	6,751	7,177	6,783	7,091	6,351	6,550	6,650	7,085
Sales mean (mil)	11,581	6,380	6,687	6,602	6,528	6,782	6,812	6,914	7,034	7,284
Surprise	+7.6%	+2.8%	+1.0%	+8.7%	+3.9%	+4.6%	−6.8%	−5.3%	−5.5%	−2.7%
EPS reported	1.77	1.16	1.23	1.30	1.17	1.81	2.20	1.96	2.11	2.00
EPS mean	1.65	1.30	1.10	1.23	1.01	1.60	1.71	1.90	1.90	1.92
Surprise	+7.4%	−10.7%	+11.6%	+5.7%	+15.9%	+13.3%	+28.5%	+3.2%	+11.2%	+4.0%

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
AIG American International Group, Inc.	42.8B	9.7%	11.6%	1.06x	10.1x	9.3x	1.0x	1.0x
1299 AIA Group Limited	99.4B	14.9%	23.6%	2.44x	12.8x	11.6x	2.0x	1.8x
ALVG Allianz SE	186.2B	35.7%	12.3%	2.65x	14.4x	13.2x	2.7x	2.5x
CB Chubb Limited	139.1B	14.4%	17.4%	1.90x	12.5x	12.3x	1.8x	1.6x
PGR The Progressive Corporation	134.0B	38.2%	12.9%	3.91x	12.6x	14.3x	3.9x	3.4x
ZURN Zurich Insurance Group AG	114.8B	25.2%	9.0%	3.57x	16.4x	14.4x	3.7x	3.5x
Mean		23.0%	14.4%	2.59x	13.1x	12.5x	2.5x	2.3x
Median		20.0%	12.6%	2.55x	12.7x	12.7x	2.3x	2.2x

Technical analysis

1M+12.5%
3M+2.0%
1Y+7.1%
3Y+47.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, American International Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	23,762	23,544	25,570	26,799	35,274	32,343
Other revenue	3,013	3,707	2,368	3,197	16,823	11,393
Total revenue	26,775	27,251	27,938	29,996	52,097	43,736
Losses, benefits and adjustments	14,162	14,567	15,393	15,461	26,908	28,428
Amortization of policy acquisition costs	3,371	3,425	3,771	3,545	4,524	4,211
Selling, general & administrative expenses	5,053	5,529	5,399	6,159	8,728	8,396
Interest expense (income), operating	–	–	–	–	–	–
Other operating expenses	−86.0	−602	−8.0	456	−2,655	8,537
Operating income	4,275	4,332	3,383	4,375	14,592	−5,836
Net interest income (expense)	−396	−462	−516	−603	−1,245	−1,457
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	3,879	3,870	2,867	3,772	13,347	−7,293
Provision for taxes	782	1,170	126	882	2,441	−1,460
Minority interest	−1.0	−478	−235	−1,046	−539	−115
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	3,096	2,222	2,506	1,844	10,367	−5,948
Extraordinary items	0	−3,626	1,137	8,383	0	4.0
Net income	3,096	−1,404	3,643	10,227	10,367	−5,944
Basic weighted average shares (mil)	565	651	720	779	854	869
Diluted weighted average shares (mil)	570	651	725	788	865	869
Basic EPS, normalized	7.09	4.95	6.79	4.55	5.12	–

Balance sheet in millions of USD, fiscal years

Balance sheet, American International Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	690	696	744	880	1,000	906
Goodwill	3,435	3,373	3,422	–	–	–
Intangibles	–	–	–	–	–	–
Insurance receivables	10,441	10,463	9,967	13,243	12,409	11,333
Long-term investments	92,944	93,613	90,244	309,946	359,292	360,668
Note receivable	–	–	–	–	–	–
Other long-term assets	5,167	4,971	384,996	14,837	11,746	12,847
Deferred policy acquisition costs	2,106	2,065	2,117	12,857	10,514	9,805
Other assets	45,197	44,839	46,276	168,422	198,953	188,095
Total assets	161,254	161,322	539,306	522,228	596,112	586,481
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	2,412	2,390	2,245	1,100	1,200	1,000
Policy liabilities	102,175	100,399	102,088	420,102	468,333	454,626
Short-term debt	0	240	0	1,500	0	0
Current portion of long-term debt	36.0	158	–	–	68.0	1,896
Long-term debt	9,155	8,524	10,606	25,679	30,095	35,638
Minority interest	23.0	29.0	5,950	2,484	2,956	837
Other liabilities	6,314	7,061	373,066	30,393	27,504	26,122
Total liabilities	120,115	118,801	493,955	481,258	530,156	520,119
Shareholders' equity
Preferred stock	–	–	−15.0	−15.0	−15.0	−15.0
Common stock	4,766	4,766	4,766	4,766	4,766	4,766
Additional paid-in capital	75,373	75,348	75,810	79,915	81,851	81,418
Retained earnings (accumulated deficit)	37,186	35,079	37,516	34,893	23,785	15,504
Treasury stock	−71,199	−65,573	−59,189	−56,473	−51,618	−49,322
Other equity	−4,987	−7,099	−13,537	−22,116	7,187	14,011
Total equity	41,139	42,521	45,351	40,970	65,956	66,362
Total liabilities & shareholders' equity	161,254	161,322	539,306	522,228	596,112	586,481

Cash flow statement in millions of USD, fiscal years

Cash flow statement, American International Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	3,097	−926	3,878	11,273	10,906	−5,829
Depreciation, depletion & amortization	3,455	3,597	4,214	4,409	4,542	4,120
Deferred taxes	452	468	−1,003	2,279	1,579	−2,434
Non-cash items	−187	2,322	1,077	1,342	−3,479	8,142
Changes in working capital	−3,503	−2,188	−1,923	−15,169	−7,325	−2,961
Cash from operations	3,314	3,273	6,243	4,134	6,223	1,038
Investing activities
Capital expenditures	–	–	–	–	–	–
Other investing cash flows	3,190	1,672	−7,021	−3,626	−3,280	−6,202
Cash from investing	3,190	1,672	−7,021	−3,626	−3,280	−6,202
Financing activities
Financing cash flow items	129	4,484	6,722	6,405	4,221	5,072
Cash dividends paid	−976	−1,024	−1,026	−1,011	−1,112	−1,132
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−5,696	−8,523	−4,914	−5,996	−6,788	1,118
Cash from financing	−6,543	−5,063	782	−602	−3,679	5,058
Foreign exchange effects	12.0	−83.0	−13.0	−117	−67.0	49.0
Net change in cash	−27.0	−201	−9.0	−211	−803	−57.0
Free cash flow	3,314	3,273	6,243	4,134	6,223	1,038

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.