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AIG General Insurance underwriting income rises in Q2 2026
GI underwriting income increased to USD 686 million, while the segment combined ratio improved to 89% despite USD 210 million of catastrophe-related charges.
AIG reported that its General Insurance, or GI, underwriting income rose 10% year over year to USD 686 million in the second quarter of 2026, up from USD 626 million in Q2 2025, according to Reinsurance News.
The insurer said the GI combined ratio improved slightly to 89% from 89.3% a year earlier. The improvement reflected higher favorable prior year development, along with an improved expense ratio, partially offset by higher catastrophe-related charges.
Reinsurance News said prior year development, net of reinsurance and prior year premiums, totaled USD 145 million, compared with USD 112 million in the prior year quarter, driven mainly by favorable development in US Workers’ Compensation and US property and special risks. Catastrophe-related charges were elevated at USD 210 million, equivalent to 3.4 loss ratio points, versus USD 170 million, or 2.9 loss ratio points, in Q2 2025.
AIG also cited net losses of USD 75 million tied to the Middle East conflict included in the quarter. For Q2 2026, GI gross written premiums rose 9% to USD 10.9 billion and net premiums written increased 9% to USD 7.5 billion, while adjusted after-tax income rose 4% to USD 1.5 billion.