AIG underwriting income more than triples in Q1.
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AIG underwriting income more than triples in Q1. First quarter 2026 underwriting income in American International Group's (AIG) General Insurance segment increased nearly 220% compared with the prior year, to $774 million. Financial results for the first three months of the year included catastrophe losses of $180 million, compared with $525 million a year ago, plus favorable net prior year development of $132 million versus $64 million in Q1 2025. The combined ratio for the General Insurance unit - which includes North America commercial, international commercial, and global personal - was 87.3 in Q1 2026 compared with 95.8 for Q1 2025. "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," said Chairman and CEO Peter Zaffino, taking part in his last quarterly report at the helm of AIG. Zaffino will become executive chair of the company's board of directors on June 1 and Aon veteran Eric Anderson will become president and CEO. Underwriting income in North America commercial was $337 million for Q1, compared with $129 million the prior year. Net premiums written increased 37% to about $1.6 billion. Global personal reversed a Q1 2025 underwriting loss of $126 million to record underwriting income of $169 million for Q1 2026. Net premiums written were up 17% and the...
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