American International Group Inc
AIG - Insider Information
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+ FollowMarket Cap$43.33B
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Earnings Call Q3 2026
November 4, 2026 - AI Summary
Strong Q3 profitability + underwriting performance
- Adjusted after-tax income per diluted share: $2.60; adjusted after-tax income: $1.1B
- Core operating ROE: 11.1% (Q3)
- Underwriting income: $564M
- Accident-year ex-cat combined ratio: 88.4%; accident-year ex-cat underwriting income: $756M
- Calendar-year combined ratio: 91.3%
- Expense ratio improved to 30.6% (GOE ratio improved due to operating leverage/discipline); full-year 2026 expense ratio guided ~30.5%, targeting <30% for full-year 2027
- Cat losses were relatively contained: $283M (driven mainly by severe convective storms in North America); prior-year reserve development was favorable
Premium growth held up well; 9M momentum strong, but Q4 not guaranteed to accelerate
- Net premiums written: +8% YoY in Q3 (+10% excluding North America property)
- Global commercial: +7% (North America commercial +2%, International commercial +13%)
- Global personal: +9% (growth driven by high net worth and A&H)
- Through first 9 months of 2026: net premiums written +11%; underwriting income >$2B; calendar combined ratio improved to 89.2% (from prior period)
- Management cautioned that the previously shared low-to-mid teens full-year growth outlook is being pulled back due to market deterioration in some pockets, choosing profitable/sustainable growth over chasing volume
- Q4 outlook (via analyst Q&A): management said no specific “one-off” issues expected in Q4 and expects Q4 to trend similar to Q3, while overall full-year growth is expected to remain “excellent” from a top-line perspective—implying growth may not accelerate vs Q3
Investments/earnings power improving (tailwind), but other operations slightly pressured
- Net investment income (adjusted pretax): $1.1B (+5% YoY)
- General insurance NII growth: +9% YoY to $1.0B; +19% since end of 2024 to $3.6B trailing 12 months (higher yields + asset base growth)
- Reinventing portfolio: nearly 90% of core fixed income turned over over last two years, contributing ~two-thirds of NII growth
- Core fixed income: average new money yield ~5.6%; annualized core fixed income yield ~4.86%
- “Other operations” adjusted pretax loss: $141M vs $112M prior year, partly due to lower investment/other income (e.g., absence of Corebridge dividends after sale)
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$130.84
57.9% upside
Current Fair Value
57.9% upsideUndervalued by 57.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $43.33 Billion |
|---|---|
| Enterprise Value | $71.23 Billion |
| Annual dividend | $1.90 |
| Dividend yield | 2.29% |
| Earnings per Share | $5.48 |
| Beta | 0.49 |
| Outstanding Shares | 522,963,373 |
Return
| Return on Equity | 4.17% |
|---|---|
| Return on Assets | 1.30% |
| Return on Invested Capital | 0.12% |
Valuation & Multiples
| P/E Ratio | 13.41 |
|---|---|
| PEG | -9.12 |
| Price to Sales | 2.76 |
| Price to Book Ratio | 1.14 |
| Enterprise Value to Revenue | 4.53 |
| Enterprise Value to EBIT | 469.82 |
| Enterprise Value to Net Income | 44 |
| Total Debt to Enterprise | 0.42 |
| Debt to Equity | 0.77 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS Estimate
$1.80
Consensus analyst estimateRevenue Estimate
$7.42 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 9, 2027
EPS Estimate
$2.06
Consensus analyst estimateRevenue Estimate
$7.55 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.06, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0560▼ 135.80% |
|---|---|
| Total Calls | 35,700▼ 97.46% |
| Total Puts | 2,000▼ 99.90% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 13.88%▼ 80.64% |
|---|---|
| Total Invested | $5.49B▼ 85.39% |
| Investors Holding | 576▼ 608.00% |
About American International Group Inc
2,020 employees
CEO: Robert Benmosche
American International Group, Inc. (AIG) operates globally and across North America, providing a diverse array of insurance solutions to businesses, institutions, and private individuals. AIG's General Insurance division delivers compreh...