American International Group, Inc. — Cyborg Score 7/10
Strong
Property and Casualty Insurance
Strategic Profile
AIG demonstrated strong earnings momentum in 2025, with adjusted after-tax EPS surging 51% in Q4 to $1.96 and full-year adjusted EPS rising 43% to $7.09, driven by underwriting income growth of 48% in Q4 and 22% for the year. The company is on track to replace Corebridge earnings by 2026 and expects a 20%+ EPS CAGR over the next three years, while aiming for a 10%-13% core operating ROE. AIG is deploying advanced AI capabilities across its operations, including AIG Underwriter Assistance deployed in core business lines resulting in 4x increase in submission ingestion, and AIG Claims Assistance reducing FNOL processing time from days to hours and coverage review cycles from hours to minutes.
Cyborg Score Rationale
Recent management has improved underwriting margins and reduced costs materially. Management expects low to mid-teens net premiums written growth in general insurance for 2026. However, AIG has a history of under-reserving for claims, making it difficult to trust that current reserves are adequate.
Top Insights
Core Operating ROE of 11.1% exceeded the 10% plus target for 2025.
AIG committed to 10%-plus dividend per share growth in 2025 and 2026, with a recent 12.5% increase demonstrating this intent.
With AIG's stake in Corebridge (former life insurance operations) deconsolidated from results, the progress on the P&C side is now more clear.
AIG operates in over 80 countries, providing insurance services to individuals and businesses worldwide.
Named Competitors
Property & Casualty Insurance — Diversified global insurance and reinsurance solutions
Progressive Insurance — Personal and commercial lines insurance with digital innovation
Commercial Insurance — Specialty and reinsurance market with global reach
XL Capital — Property, casualty, and specialty insurance
Recent Developments
(February 2026) Adjusted after-tax EPS surged 51% in Q4 2025 to $1.96, with full-year adjusted EPS rising 43% to $7.09.
(March 2026) AIG announced a cash dividend of $0.45 with ex-date of March 16, 2026.
(2026 Outlook) January 1, 2026 reinsurance renewal resulted in enhanced terms and favorable pricing, with AIG on track to achieve or exceed Investor Day guidance financial objectives.
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