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Third quarter 2025 underwriting income in American International Group’s (AIG) General Insurance segment increased 81% compared with last year, to $793 million.

The unit—North America commercial, International commercial, and global personal—recorded $100 million in catastrophe-related charges in Q3 2025, compared with $417 million for Q3 2024.

Net written premiums were down 2% to about $6.4 billion.

The combined ratio for General Insurance was 86.8 versus 92.6 a year ago during the same period. Improvement was seen in both the loss ratio and expense ratio. Results for Q3 included $180 million of favorable prior year development, compared with $165 million last year.

“AIG had an exceptional third quarter. We successfully executed on multiple complex strategic transactions to further position AIG for the future while also delivering outstanding financial results,” Peter Zaffino, AIG chairman and CEO, said in a statement.

A week ago, AIG acquired the renewal rights of Everest Group‘s retail commercial business. Days later, the company announced investments in global specialty insurer Convex Group, and asset manager Onex Corp.

Zaffino said the moves “mark an important next step in AIG’s strategy and were made available exclusively to us because of our strong brand, outstanding performance and deep industry relationships.”

Looking deeper into Q3 General Insurance results, underwriting income for North America commercial quadrupled compared to Q3 2024 to $384 million while the combined ratio improved nearly 13 points to 82.6.

The global personal segment recorded underwriting income growth of $79 million versus $21 million for Q3 2024. Net premiums written were down 11% to about $1.7 billion on a change to reinsurance structures to the business’s U.S. high net worth book.

Topics Profit Loss Underwriting AIG