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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Fixed maturity securities:    
Bonds available for sale, at fair value, net of allowance for credit losses of $138 in 2023 and $186 in 2022 (amortized cost: 2023 - $248,691; 2022 - $255,993)* [1] $ 214,940 $ 226,156
Other bond securities, at fair value (See Note 5) [1] 4,840 4,485
Equity securities, at fair value (See Note 5) [1] 515 575
Mortgage and other loans receivable, net of allowance for credit losses of $38,521 in 2023 and $38,351 in 2022* [1] 50,922 49,605
Other invested assets (portion measured at fair value: 2023 - $12,014; 2022 - $12,042)* [1] 16,054 15,953
Short-term investments, including restricted cash of $4 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,459; 2022 - $5,708)* [1] 13,048 12,376
Total investments 300,319 309,150
Cash [1] 1,994 2,043
Accrued investment income [1] 2,574 2,376
Premiums and other receivables, net of allowance for credit losses and disputes of $141 in 2023 and $169 in 2022 11,388 13,243
Deferred income taxes 14,612 14,804
Deferred policy acquisition costs 11,999 12,857
Market risk benefit assets, at fair value 978 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $36 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $485; 2022 - $621)* [1] 11,857 12,384
Separate account assets, at fair value 84,724 84,853
Assets held for sale 14,018 0
Total assets 521,521 522,228
Liabilities:    
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022 69,823 75,167
Unearned premiums 18,409 18,338
Future policy benefits for life and accident and health insurance contracts 51,666 51,914
Policyholder contract deposits (portion measured at fair value: 2023 - $6,376; 2022 - $5,408) 159,737 155,984
Market risk benefit liabilities, at fair value 4,519 4,736
Other policyholder funds 3,365 3,463
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(3,413); 2022 - $(2,235)) 27,691 30,383
Other liabilities (portion measured at fair value: 2023 - $351; 2022 - $343)* [1] 24,202 26,757
Separate account liabilities 84,724 84,853
Liabilities held for sale 10,117 0
Total liabilities 478,308 478,774
Contingencies, commitments and guarantees (See Note 15)
AIG shareholders’ equity:    
Series A non-cumulative preferred stock and additional paid in capital, $5.00 par value; 100,000,000 shares authorized; shares issued: 2023 - 20,000 and 2022 - 20,000; liquidation preference $500 485 485
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2023 - 1,906,671,492 and 2022 - 1,906,671,492 4,766 4,766
Treasury stock, at cost; 2023 - 1,202,096,780 shares; 2022 - 1,172,543,436 shares of common stock (58,191) (56,473)
Additional paid-in capital 77,764 79,915
Retained earnings 37,689 34,893
Accumulated other comprehensive loss (22,529) (22,616)
Total AIG shareholders’ equity 39,984 40,970
Non-redeemable noncontrolling interests 3,229 2,484
Total equity 43,213 43,454
Total liabilities and equity 521,521 522,228
Recurring Basis    
Fixed maturity securities:    
Other invested assets (portion measured at fair value: 2023 - $12,014; 2022 - $12,042)* 12,014 12,042
Short-term investments, including restricted cash of $4 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,459; 2022 - $5,708)* 6,459 5,708
Market risk benefit assets, at fair value 978 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $36 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $485; 2022 - $621)* 485 621
Liabilities:    
Policyholder contract deposits (portion measured at fair value: 2023 - $6,376; 2022 - $5,408) 6,376 5,408
Market risk benefit liabilities, at fair value 4,519 4,736
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(3,413); 2022 - $(2,235)) 3,413 2,235
Consolidated Entities, Excluding Consolidated Investments    
Liabilities:    
Short-term and long-term debt 21,338 21,299
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary    
Liabilities:    
Short-term and long-term debt [1] 2,717 5,880
Fortitude RE    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes 28,895 30,751
Excluding Fortitude    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes $ 38,163 $ 38,971
[1] See Note 10 for details of balances associated with variable interest entities.