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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Fixed maturity securities:    
Bonds available for sale, at fair value, net of allowance for credit losses of $162 in 2023 and $186 in 2022 (amortized cost: 2023 - $253,035; 2022 - $255,993)* [1] $ 231,733 $ 226,156
Other bond securities, at fair value (See Note 5) [1] 5,241 4,485
Equity securities, at fair value (See Note 5) [1] 728 575
Mortgage and other loans receivable, net of allowance for credit losses of $38,473 in 2023 and $38,351 in 2022* [1] 51,553 49,605
Other invested assets (portion measured at fair value: 2023 - $11,733; 2022 - $12,042)* [1] 16,217 15,953
Short-term investments, including restricted cash of $4 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $10,772; 2022 - $5,708)* [1] 17,200 12,376
Total investments 322,672 309,150
Cash [1] 2,155 2,043
Accrued investment income [1] 2,588 2,376
Premiums and other receivables, net of allowance for credit losses and disputes of $139 in 2023 and $169 in 2022 10,561 13,243
Deferred income taxes 14,445 14,804
Deferred policy acquisition costs 12,085 12,857
Market risk benefit assets, at fair value 912 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $45 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $754; 2022 - $621)* [1] 13,089 12,384
Separate account assets, at fair value 91,005 84,853
Assets held for sale 2,268 0
Total assets 539,306 522,228
Liabilities:    
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022 70,393 75,167
Unearned premiums 17,387 18,338
Future policy benefits for life and accident and health insurance contracts 58,576 51,914
Policyholder contract deposits (portion measured at fair value: 2023 - $7,997; 2022 - $5,408) 161,979 155,984
Market risk benefit liabilities, at fair value 5,705 4,736
Other policyholder funds 3,356 3,463
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,226); 2022 - $(2,235)) 29,484 30,383
Other liabilities (portion measured at fair value: 2023 - $624; 2022 - $343)* [1] 25,958 26,757
Short-term and long-term debt 22,387 27,179
Separate account liabilities 91,005 84,853
Liabilities held for sale 1,775 0
Total liabilities 488,005 478,774
Contingencies, commitments and guarantees (See Note 17)
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 - 1,217,831,721 shares; 2022 - 1,172,543,436 shares of common stock (59,189) (56,473)
Additional paid-in capital 75,810 79,915
Retained earnings 37,516 34,893
Accumulated other comprehensive loss (14,037) (22,616)
Total AIG shareholders’ equity 45,351 40,970
Non-redeemable noncontrolling interests 5,950 2,484
Total equity 51,301 43,454
Total liabilities and equity 539,306 522,228
Recurring Basis    
Fixed maturity securities:    
Other invested assets (portion measured at fair value: 2023 - $11,733; 2022 - $12,042)* 11,733 12,042
Short-term investments, including restricted cash of $4 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $10,772; 2022 - $5,708)* 10,772 5,708
Market risk benefit assets, at fair value 912 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $45 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $754; 2022 - $621)* 754 621
Liabilities:    
Policyholder contract deposits (portion measured at fair value: 2023 - $7,997; 2022 - $5,408) 7,997 5,408
Market risk benefit liabilities, at fair value 5,705 4,736
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,226); 2022 - $(2,235)) 1,226 2,235
Consolidated Entities, Excluding Consolidated Investments    
Liabilities:    
Short-term and long-term debt 19,796 21,299
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary    
Liabilities:    
Short-term and long-term debt [1] 2,591 5,880
Fortitude RE    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes 30,612 30,751
Excluding Fortitude    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes $ 36,914 $ 38,971
[1] See Note 10 for details of balances associated with variable interest entities.