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AIG General Insurance underwriting income rises to $686 million in Q2
Q2 catastrophe losses totaled $210 million, including $75 million of net losses tied to the conflict in the Middle East.
American International Group’s General Insurance segment reported second-quarter 2026 underwriting income of $686 million, nearly 10% higher than the prior year.
The segment recorded catastrophe losses of $210 million, including $75 million of net losses related to the conflict in the Middle East. AIG also reported favorable net prior-year development of $145 million, compared with $112 million in the same quarter a year earlier.
Despite higher underwriting income, the General Insurance combined ratio for the quarter remained at 89, compared with 89.3 a year ago. In North America commercial, underwriting income rose to $372 million from $301 million, while net premiums written increased 9% to about $3.1 billion, and the combined ratio improved to 84 from 85.9.
AIG said overall Q2 net income attributable to shareholders fell to $948 million from about $1.1 billion a year earlier, attributing the decrease to investments in Corebridge and equity securities. The insurer also sold its remaining interest in Corebridge, selling 25 million shares of common stock for a gain of about $710 million, according to Insurance Journal.