American International Group (AIG) FY2025 10-K Annual Report

Filed: Feb 12, 2026
Financials
Fire, Marine & Casualty InsuranceSEC EDGAR

American International Group (AIG) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

American International Group FY2025 10-K Analysis

Business Overview

  • Core business model: Global insurance and financial services provider with diversified products and investment management
  • No new products or segments introduced or emphasized in FY 2026 filing
  • Increased emphasis on regulatory and legislative risks impacting business practices, capital, and tax strategies
  • Notable regulatory risk: potential limitation on tax loss carryforward utilization if ownership change occurs under Section 382
  • New U.S. tax legislation (OBBB Act) effective July 2025 expected to have no material impact on results

Management Discussion & Analysis

  • No specific revenue or profit figures disclosed in provided section
  • Natural catastrophe modeled PML net of reinsurance $2.5B (1-in-250 year event), 4.8% of shareholders' equity
  • U.S. Hurricane PML $938M net of reinsurance, 1.8% of shareholders' equity; Japanese Typhoon lowest at $283M, 0.5% equity
  • 2026 catastrophe reinsurance program: North America Commercial retention $500M, increased vertical limit by $500M; Personal Lines retention $200M maintained
  • Management recognizes climate change risk, actively adjusts risk models and pricing; no forward revenue or earnings guidance provided in excerpt

Risk Factors

  • Terrorism risk concentration in New York City, exposure mainly in Property and Workers’ Compensation lines, mitigated by TRIPRA coverage in the U.S.
  • International terrorism exposure managed via scenario-based modeling and reinsurance, reliant on government-sponsored terrorism reinsurance programs abroad
  • Reinsurance dependence for capital adequacy and risk mitigation in natural and man-made catastrophes, with mandatory cessions to clients, agents, or regulatory-required reinsurers
  • No specific competitor or technology disruption risk detailed in text, but potential vulnerability to market shifts in reinsurance practices or terrorism risk modeling
  • Exposure to loss reserve development impacting financials, with deferred gains from retroactive reinsurance affecting income recognition timing

American International Group FY2025 Key Financial Metrics
XBRL

Revenue

$26.8B

-1.7% YoY

Net Income

$3.1B

+320.5% YoY

Net Margin

11.6%

+1672bp YoY

ROE

7.5%

+1083bp YoY

Total Assets

$161.3B

-0.0% YoY

EPS (Diluted)

$5.43

+350.2% YoY

Operating Cash Flow

$3.3B

+1.3% YoY

Source: XBRL data from American International Group FY2025 10-K filing on SEC EDGAR. All figures in USD.

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