Insurer AIG Reports Profit Dip Due to LA County Wildfire Losses

Insurer AIG Reports Profit Dip Due to LA County Wildfire Losses

American International Group Inc. (AIG) revealed a decline in first-quarter profits Thursday, citing considerable payouts stemming from the Los Angeles County wildfires in January. The multinational finance and insurance corporation reported $525 million in total catastrophe-related charges in the quarter, with $460 million of those losses a direct result of the Los Angeles County fires, in which at least 30 lives were lost and more than 16,000 …

AIG reports Q1'25 NPW of $4.5bn as LA wildfires dent underwriting result

Global insurer American International Group (AIG), Inc. has reported strong top-line growth with net premiums written (NPW) for the first quarter of 2025 hitting $4.5 billion, flat year-over-year on a reported basis, although the general insurance (GI) combined ratio deteriorated to 95.8% amid higher catastrophe losses. On a comparable basis, NPW rose 8%, driven by 10% growth in Global Commercial to $3.2 billion. Group-wide, gross premiums writt…

AIG Q1 Underwriting Income More Than Halved on Wildfire Losses

First quarter underwriting income in AIG's General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North America