AMERICAN INTERNATIONAL GROUP, INC. 10-Q10-Q

Financial Statements (unaudited)

Item 1. | Financial Statements American International Group, Inc. Condensed Consolidated Balance Sheets (unaudited) (in millions, except for share data) June 30, 2026 December 31, 2025 Assets: Investments: Fixed maturity securities: Bonds available for sale, at fair value, net of allowance for credit losses of $ 35 in 2026 and $ 37 in 2025 (amortized cost: 2026 - $ 72,710 ; 2025 - $ 71,772 ) $ 71,472 $ 71,032 Other bond securities, at fair value 667 741 Equity securities, at fair value 1,034 502 Mortgage and other loans receivable, net of allowance for credit losses of $ 37,714 in 2026 and $ 37,747 in 2025 2,599 2,887 Other invested assets (portion measured at fair value: 2026 - $ 3,120 ; 2025 - $ 5,011 ) 6,841 6,696 Short-term investments, including restricted cash of $ 58 in 2026 and $ 55 in 2025 (portion measured at fair value: 2026 - $ 5,213 ; 2025 - $ 5,909 ) 9,063 11,141 Total investments 91,676 92,999 Cash 1,490 1,274 Accrued investment income 719 691 Premiums and other receivables, net of allowance for credit losses and disputes of $ 134 in 2026 and $ 131 in 2025 12,761 10,441 Reinsurance assets - Fortitude Re 3,039 3,167 Reinsurance assets - other, net of allowance for credit losses and disputes of $ 247 in 2026 and $ 248 in 2025 35,755 34,829 Deferred income tax assets 4,876 5,096 Deferred policy acquisition costs 2,217 2,106 Goodwill 3,422 3,435 Deposit accounting assets, net of allowance for credit losses of $ 49 in 2026 and $ 49 in 2025 2,546 2,443 Other assets, including restricted cash of $ 17 in 2026 and $ 16 in 2025 (portion measured at fair value: 2026 - $ 3 ; 2025 - $ 135 ) 4,963 4,773 Total assets $ 163,464 $ 161,254 Liabilities: Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $ 14 in 2026 and $ 14 in 2025 $ 69,852 $ 70,666 Unearned premiums 20,035 17,991 Future policy benefits 1,302 1,385 Other policyholder funds 321 352 Fortitude Re funds withheld payable (portion measured at fair value: 2026 - $( 75 ); 2025 - $( 92 )) 2,903 3,038 Premiums and other related payables 7,451 5,448 Deposit accounting liabilities 3,340 3,295 Commissions and premium taxes payable 1,506 1,556 Current and deferred income tax liabilities 636 661 Other liabilities (portion measured at fair value: 2026 - $ 192 ; 2025 - $ 162 ) 6,365 6,509 Long-term debt 8,973 9,035 Debt of consolidated investment entities 154 156