Earnings Call
Apr 30, 2026
Q1 FY2026
EPS Estimate
1.89
EPS Actual
2.11
Post-Earnings Close
$78.77
Earnings Reaction
+5.3%
AIG's first quarter of 2026 was, by management's own characterization, the strongest opening quarter since Peter Zaffino took the helm, and the numbers largely support that claim. Adjusted after-tax income per diluted share came in at $2.11, an 80% year-over-year increase, well ahead of the $1.90 consensus estimate. Adjusted pretax income of $1.5 billion rose 65% from the prior year, with underwriting income more than tripling to $774 million. The General Insurance accident year combined ratio as adjusted improved 120 basis points to 86.6%, and the calendar year combined ratio of 87.3% represented an 850 basis point improvement, a result that reflects both disciplined underwriting and the structural benefit of AIG's reinsurance repositioning at the January 1 renewal cycle. Net premiums written of $5.6 billion grew 18% on a constant dollar basis, with management reaffirming full-year guidance of low-to-mid-teens NPW growth.
Report generated on May 2, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
Read the full AIG analysis
The complete report, with key themes, analyst Q&A summary, notable quotes, and market context — is free with an account. No password, no card.