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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 1-8787

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American International Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware13-2592361
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1271 Avenue of the Americas, New York, New York10020
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (212) 770-7000

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Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, Par Value $2.50 Per ShareAIGNew York Stock Exchange
4.875% Series A-3 Junior Subordinated DebenturesAIG 67EUNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☑Accelerated filer ☐
Non-accelerated filer ☐Smaller reporting company ☐
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of July 26, 2024, there were 643,951,434 shares outstanding of the registrant’s common stock.

AMERICAN INTERNATIONAL GROUP, INC.

QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024

TABLE OF CONTENTS

FORM 10-Q

Item NumberDescriptionPage
Part I – Financial Information
ITEM 1Financial Statements2
Note 1.Basis of Presentation9
Note 2.Summary of Significant Accounting Policies10
Note 3.Segment Information10
Note 4.Held-For-Sale Classification & Discontinued Operations Presentation12
Note 5.Fair Value Measurements15
Note 6.Investments29
Note 7.Lending Activities36
Note 8.Reinsurance39
Note 9.Deferred Policy Acquisition Costs41
Note 10.Variable Interest Entities41
Note 11.Derivatives and Hedge Accounting42
Note 12.Insurance Liabilities45
Note 13.Contingencies, Commitments and Guarantees49
Note 14.Equity50
Note 15.Earnings Per Common Share (EPS)55
Note 16.Income Taxes56
ITEM 2Management’s Discussion and Analysis of Financial Condition and Results of Operations58
•Cautionary Statement Regarding Forward-Looking Information and Factors That May Affect Future Results58
•Use of Non-GAAP Measures61
•Critical Accounting Estimates63
•Executive Summary63
•Consolidated Results of Operations66
•Business Segment Operations72
•Investments81
•Insurance Reserves90
•Liquidity and Capital Resources95
•Enterprise Risk Management101
•Glossary102
•Acronyms104
ITEM 3Quantitative and Qualitative Disclosures About Market Risk105
ITEM 4Controls and Procedures105
Part II – Other Information
ITEM 1Legal Proceedings106
ITEM 1ARisk Factors106
ITEM 2Unregistered Sales of Equity Securities and Use of Proceeds107
ITEM 5Other Information107
ITEM 6Exhibits108
Signatures109
AIG | Second Quarter 2024 Form 10-Q1
Part I – Financial Information

Next: Item 1. Financial Statements