AIG has reported third-quarter net income of $519 million, up 13 per cent compared with the same period last year.

AIG chairman and chief executive Peter Zaffino called the quarter’s results “exceptional”, as AIG delivered tremendous earnings per share and return on equity results in the three-month period.

“We successfully executed on multiple complex strategic transactions to further position AIG for the future while also delivering outstanding financial results,” Mr Zaffino said.

The firm recently announced investments in Convex Group, a global speciality insurer, and Onex Corporation, a global asset manager.

They also entered into agreements to acquire the renewal rights of Everest Group’s global retail commercial insurance portfolios.

“These unique opportunities 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,” Mr Zaffino said. “We expect these transactions to be earnings, EPS and ROE accretive.”

“Adjusted after-tax income per diluted share increased 77 per cent from the prior year quarter to $2.20,” he said. “This significant growth reflects AIG’s strength in underwriting, the focused repositioning of our investment portfolio, our expense management and our disciplined deployment of capital.”

General Insurance underwriting income grew 81 per cent from the prior year quarter to $793 million with growth across all three segments.

“The combined ratio was 86.8 per cent, a 580 basis-point improvement year over year and the accident year combined ratio, as adjusted, was 88.3 per cent, an impressive result,” he said.

Core operating ROE increased to 13.6 per cent for the third quarter and was 10.9 per cent for the first nine months of 2025.

“Our strong balance sheet and financial flexibility have enabled us to pursue compelling opportunities that expand our capabilities, elevate our financial performance and continue to deliver returns to shareholders,” Mr Zaffino said. “This quarter, we returned approximately $1.5 billion of capital to shareholders, bringing our year-to-date total to $6 billion.”

The executive said they were on track to achieve the financial objectives set at investor day.

Mr Zaffino said: “I am very confident in AIG’s ability to continue to drive sustained, profitable growth and long-term value for our company and all of our stakeholders.”