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Second quarter underwriting income in AIG’s General Insurance segment increased 46% compared with last year, to $626 million.

The unit鈥擭orth America commercial, International commercial, and global personal鈥攔ecorded $170 million in catastrophe-related charges in Q2 2025, compared with $330 million for Q1 2024. AIG said results this year included $112 million of favorable prior year development. Favorable PYD was $20 million for Q2 2024.

Net written premiums were down 1% to about $6.9 billion, but AIG said NPW increased 1% on a comparable basis鈥攐r “constant dollar” basis adjusted for the sale of AIG’s travel business in 2024.

The combined ratio for General Insurance was 89.3 compared with 92.5 a year ago during the same period. CEO Peter Zaffino in a statement said the NPW growth was driven by 4% growth in North America commercial, where underwriting income jumped 58% to $301 million.

Underwriting income for International commercial was up 30% to $300 million in Q2.

AIG’s global personal lines business recorded Q2 underwriting income of $25 million versus income of $9 million a year ago. The combined ratio for personal lines was 98.5, improving slightly from 99.4.

Last month, AIG said it hired former Lloyd’s CEO John Neal to lead General Insurance, effective Dec. 1.

Overall, AIG record Q2 net income of $1.1 billion compared with a net loss of $4 billion the prior year as a result of the formal split of its life and retirement business Corebridge Financial.

Topics Profit Loss Underwriting AIG