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American International Group

AIG on NYSE. American International Group sells insurance policies to people and businesses. Market value $39.3bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Financial services stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
8.4%five-year median

Yearly profit per dollar of owners' money: 8 cents. Above 10 is good.

Price to book
quarterly report to June 2026
1.0×

What you pay for each dollar of net assets: $0.97.

Earnings yield
past 12 months to June 2026
7.5%

Profit per $100 you pay: $7.55.

Quality score: 45 of 100. Price score: 97 of 100. Our list needs 70 on quality and 60 on price.

$75.12 a share, 5% above its 1-year low

Over the past year the price has ranged from $71.25 to $87.29.

Dividend: 2.5% a year

Paid every year for at least 5 years

Prices from Monday’s close (5 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$52.2bn$30.0bn$27.9bn$27.3bn$26.8bn
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.74bn0.70bn0.62bn0.54bn0.52bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsShrinking, 9.3% a year
  • Buying back its own sharesYes, 30% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $7.1 billion last quarter, about the same as a year ago.
  • Profit: $948 million, down 17% on a year ago.
  • 8% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales did not grow on a year ago in any of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$6.8bn
December 2024$7.2bn
March 2025$6.8bn
June 2025$7.1bn
September 2025$6.4bn
December 2025$6.5bn
March 2026$6.7bn
June 2026$7.1bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$459m
December 2024$898m
March 2025$698m
June 2025$1.1bn
September 2025$519m
December 2025$735m
March 2026$763m
June 2026$948m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
3 November 2026
Last annual report (10-K)
12 February 2026
Next quarterly (estimated, 10-Q)
6 November 2026

Who owns it

16 long-term investors we follow own it, down from 17 last quarter. 1,136 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $1,668 of shares on the open market. 1 sold $18m, $18m of it under preset trading plans.

  • Zaffino Peter
    Executive Chair, Director
    Sold
    under a preset trading plan
    Date
    13 August 2026
    Shares
    36,829
    Price
    $76.14
    Value
    $3m
  • Zaffino Peter
    Executive Chair, Director
    Sold
    under a preset trading plan
    Date
    12 August 2026
    Shares
    200,000
    Price
    $76.47
    Value
    $15m
  • Walsh Keith
    EVP and CFO
    Bought
    Date
    30 December 2025
    Shares
    5
    Price
    $86.54
    Value
    $467
  • Inglis John C
    Director
    Bought
    Date
    30 December 2025
    Shares
    14
    Price
    $86.47
    Value
    $1,200

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 7 Aug 2026 and 8 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Sales have shrunk: 9.3% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.