American International Group (AIG) is trading higher today after posting strong first-quarter 2026 results and announcing a bigger shareholder payout. The company reported adjusted after-tax income (AATI) per diluted share of $2.11, up 80% year over year, alongside a major step-up in underwriting performance, with a 87.3% general insurance combined ratio and underwriting income of $774 million that more than tripled from the prior-year quarter.

AIG reported net income per diluted share of $1.41, up 22% year over year, and core operating ROE of 12.2%. Premium momentum also stood out: general insurance net premiums written were $5.6 billion, up 24% year over year (18% on a constant-dollar basis), driven by growth in Global Commercial and Global Personal. The underwriting strength was helped by significantly lower catastrophe-related charges ($180 million versus $525 million a year earlier), which contributed to the combined-ratio improvement.

Alongside the earnings report, AIG’s board declared a quarterly cash dividend of $0.50 per share—an 11% increase from the prior quarterly dividend—starting in the second quarter of 2026. The company also continued to return capital through repurchases, buying back $519 million of stock in the quarter and returning $760 million total including dividends, supporting the equity story for investors focused on capital returns.

Investors will be tracking whether AIG can sustain premium growth without sacrificing underwriting discipline, especially as catastrophe activity and pricing trends evolve through 2026. Another focus is the durability of profitability improvements—how much stems from structurally better accident-year underwriting versus quarter-to-quarter variability in catastrophe losses and reserve development.