American International Group, Inc. (NYSE:AIG) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET

Company Participants

Quentin McMillan - VP, Managing Director & Head of IR
Peter Zaffino - Chairman & CEO
Sabra Purtill - EVP & CFO|
Don Bailey - EVP & CEO, North America Insurance
Jon Hancock - EVP & CEO, International Insurance

Conference Call Participants

Michael Zaremski - BMO Capital Markets
Meyer Shields - KBW
Elyse Greenspan - Wells Fargo Securities
Rob Cox - Goldman Sachs
Mike Ward - Citigroup

Operator

Good day, and welcome to AIG's Second Quarter 2024 Financial Results Conference Call. This conference is being recorded.

Now, at this time, I would like to turn the conference over to Quentin McMillan. Please go ahead.

Quentin McMillan

Thanks very much, and good morning. Today's remarks may include forward-looking statements, which are subject to risks and uncertainties. These statements are not guarantees of future performance or events, and are based on management's current expectations. AIG's filings with the SEC provide details on important factors that could cause actual results or events to differ materially. Except as required by applicable securities laws, AIG is under no obligation to update any forward-looking statements, circumstances or management's estimates or opinions should change.

Today's remarks may also refer to non-GAAP financial measures. The reconciliation of such measures to the most comparable GAAP figures is included in our earnings release, financial supplement and earnings presentation, all of which are available on our website at aig.com. Additionally, note that following the deconsolidation of Corebridge Financial on June 9, 2024, the historical results of Corebridge for all periods presented, are reflected in AIG's condensed consolidated financial statements as discontinued operations in accordance with U.S. GAAP.

Finally, today's remarks related to General Insurance results, including key metrics such as net premiums written, underwriting income and underwriting margin are presented on a comparable basis, which reflects year-over-year comparison on a constant dollar basis as applicable, and adjusted for the sale of Crop Risk Services and the sale of Validus Re. We believe this presentation provides the most useful view of General Insurance results and the go forward business in light of the substantial changes to the portfolio since 2023. Please refer to Pages 29 through 31 of the earnings presentation for reconciliations of such metrics reported on a comparable basis.

With that, I'd now like to turn the call over to our Chairman and CEO, Peter Zaffino.