American International Group reports $849 million net income for Q3 2026

Item 1. | Financial Statements

American International Group, Inc.

Condensed Consolidated Balance Sheets (unaudited) (in millions, except for share data) September 30,

2026 December 31,

2025

Assets:

Investments:

Fixed maturity securities:

Other bond securities, at fair value 649 741

Equity securities, at fair value 1,058 502

Reinsurance assets - Fortitude Re

Premiums and other related payables 6,431 5,448

Deposit accounting liabilities 3,408 3,295

Commissions and premium taxes payable 1,472 1,556

Current and deferred income tax liabilities 639 661

Debt of consolidated investment entities 154 156

Total liabilities 122,952 120,092

Contingencies, commitments and guarantees (See Note 12)

AIG shareholders' equity:

See accompanying Notes to Condensed Consolidated Financial Statements.

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AIG | Third Quarter 2026 Form 10-Q

TABLE OF CONTENTS

American International Group, Inc.

Condensed Consolidated Statements of Income (Loss) (unaudited)

Three Months Ended

September 30, Nine Months Ended

(Gain) loss on extinguishment of debt — — — ( 5 )

Net (gain) loss on divestitures and other — — 133 ( 53 )

See accompanying Notes to Condensed Consolidated Financial Statements.

AIG | Third Quarter 2026 Form 10-Q

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TABLE OF CONTENTS

American International Group, Inc.

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited)

Three Months Ended Nine Months Ended

Other comprehensive income (loss), net of tax

Change in foreign currency tran

ITEM 1 | Notes to Condensed Consolidated Financial Statements (unaudited) | 1. Basis of Presentation

1. Basis of Presentation

American International Group, Inc. is a leading global insurance organization.¹ AIG provides insurance solutions that help businesses and individuals in over 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. Unless the context indicates otherwise, the terms "AIG," "we," "us," "our" or "the Company" mean American International Group, Inc. and its consolidated subsidiaries, and the term "AIG Parent" means American International Group, Inc. and not any of its consolidated subsidiaries.

These unaudited Condensed Consolidated Financial Statements do not include all disclosures that are normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited Consolidated Financial Statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2025 (the 2025 Annual Report). The condensed consolidated financial information as of December 31, 2025 included herein has been derived from the audited Consolidated Financial Statements in the 2025 Annual Report.

In the opinion of management, these Condensed Consolidated Financial Statements contain normal recurring adjustments, including eliminations of material intercompany accounts and transactions, necessary for a fair statement of the results presented herein. Results of operations for the nine months ended September 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

We evaluated the need to recognize or disclose events that occurred subsequent to September 30, 2026 and prior to the issuance of these Condensed Consolidated Financial Statements. There were no significant subsequent events that required disclosure.

STRATEGIC INVESTMENTS

On February 6, 2026, AIG closed its previously announced acquisitions of (i) a 35 percent equity interest in Convex Group Limited (Convex), a global specialty insurer, for $ 2.1 billion and (ii) a 9.9 percent ownership stake in Onex Corporation (Onex), a global asset manager, for $ 642 million.² AIG reflects its interest in Convex as an equity method investment in Other invested assets. The difference between the purchase price and the value of the underlying net assets acquired is primarily comprised of intangible assets and other basis differences of $ 520 million and goodwill of $ 440 million.³ AIG records its proportionate share of Convex's net income less amortization of the basis differences described above as a component of Net investment income reported in General Insurance.

On December 23, 2025, AIG entered into a whole account quota share agreement with Convex to reinsure 7.5 percent, 10.0 percent and 12.5 percent of Convex's underwriting portfolio beginning in 2026, 2027 and 2028, respectively. The quota share agreement became effective starting on January 1, 2026.

SALE OF ASSETS

Corebridge

On February 17, 2026, Corebridge Financial, Inc. (Corebridge) purchased 24.7 million shares of Corebridge common stock from AIG at a per share purchase price of $ 30.42 with aggregate proceeds to AIG Parent of $ 750 million.⁴ On March 23, 2026, in light of the reduction in AIG's ownership interest in Corebridge, the two remaining AIG designees resigned from Corebridge's board of directors. As of March 31, 2026, we concluded that we no longer have the ability to exert significant influence over Corebridge. AIG's interest in Corebridge changed from being recognized as an equity method investment in Other invested assets to an equity security, at fair value on our Condensed Consolidated Balance Sheets. AIG continued to use Corebridge's stock price as its fair value for reporting purposes. Dividends received from Corebridge and changes in its stock price continued to be recognized in Net investment income.

On May 7, 2026, we sold 25.5 million shares of Corebridge common stock, representing our remaining interest in Corebridge, at a per share purchase price of $ 27.90 . The aggregate proceeds to AIG Parent were approximately $ 710 million.

USE OF ESTIMATES

The preparation of financial statements in accordance with U.S. GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of:

• loss reserves;

• reinsurance assets;

• fair value measurements of certain financial assets and financial liabilities; and

• income taxes, in particular the recoverability of our deferred tax asset and establishment of provisions for uncertain tax positions.

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AIG | Third Quarter 2026 Form 10-Q

TABLE OF CONTENTS

ITEM 1 | Notes to Condensed Consolidated Financial Statements (unaudited) | 1. Basis of Presentation

These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation.⁵ To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

DEBT

On September 24, 2026, AIG issued € 625 million aggregate principal amount of 4.250 % Notes Due 2031 and € 500 million aggregate principal amount of 4.750 % Notes Due 2036, which was equivalent to approximately $ 1.3 billion in the aggregate.⁶

2. Summary of Significant Accounting Policies

FUTURE APPLICATION OF ACCOUNTING STANDARDS

Disaggregation of Income Statement Expenses

On November 4, 2024, the FASB issued new guidance that is intended to improve disclosures regarding the nature of expenses included in the income statement. The standard will require companies to disaggregate certain expense captions into specified categories in disclosures within notes to the financial statements and provide qualitative descriptions for those that are not separately disclosed. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods begin