v3.25.4
Discontinued Operations Presentation (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Financial Information Related to Corebridge as an Equity Method Investee
The following provides Corebridge's pre-tax income as well as our equity method income (representing the sum of dividends received and changes in Corebridge's stock price).
Years Ended December 31,
(in millions)20252024
Corebridge pre-tax income (loss)$(541)$1,574 
Equity method income related to Corebridge (based on fair value)$277 $601 
Financial Information for Discontinued Operations
The following table presents the amounts related to the operations of Corebridge that have been reflected in Net income from discontinued operations:
Years Ended December 31,
(in millions)20242023
Revenues:
Premiums$2,723 $7,690 
Policy fees1,269 2,797 
Net investment income5,238 11,146 
Net realized losses(923)(3,530)
Other income372 761 
Total revenues8,679 18,864 
Benefits, losses and expenses:
Policyholder benefits and losses incurred3,618 9,362 
Change in the fair value of market risk benefits, net(350)2 
Interest credited to policyholder account balances2,184 4,424 
Amortization of deferred policy acquisition costs465 1,037 
General operating and other expenses1,350 3,100 
Interest expense249 620 
Net gain on divestitures and other(191)(672)
Total benefits, losses and expenses7,325 17,873 
Income from discontinued operations before income tax expense and loss on disposal of discontinued operations1,354 991 
Income tax expense (benefit)226 (146)
Income from discontinued operations, net of income taxes before loss on disposal of discontinued operations1,128 1,137 
Loss on disposition of operations, net of tax(4,754)— 
Income (loss) from discontinued operations, net of income taxes(3,626)1,137 
Less: Net income from discontinued operations attributable to noncontrolling interests478 235 
Net income (loss) from discontinued operations attributable to AIG$(4,104)$902 
The loss on deconsolidation of Corebridge, as of December 31, 2024, is calculated as follows:
(in millions)
Corebridge retained investment (294.2 million shares at $28.90 per share at June 9, 2024)
$8,502 
Retained interest in certain investment entities and other assets1,180 
Net fair value of assets retained9,682 
Corebridge book value12,409 
Less: Noncontrolling interests5,732 
Corebridge book value excluding noncontrolling interests6,677 
Pre-tax gain on sale3,005 
Tax expense545 
Subtotal: After tax gain on sale before reclassification adjustment2,460 
Reclassification adjustment of Accumulated other comprehensive loss(7,214)
After-tax loss on sale of Corebridge$(4,754)