AIG’s gross written premium grew 11% to $US10.01 billion ($15.02 billion) in the first quarter as general insurance underwriting income more than tripled compared with a year earlier to $US774 million ($1.16 billion).

The general insurance combined operating ratio was 87.3%, an improvement on 95.8% a year earlier.

“Looking ahead, we are confident in our ability to navigate an increasingly complex global risk landscape while continuing to deliver disciplined, profitable growth,” chairman and CEO Peter Zaffino said.

General insurance net premium written rose 24% to $US5.6 billion, driven by 21% growth in global commercial and 11% in global personal. The gains were aided by the purchase of Everest Group renewal rights late last year.

North America commercial increased 36% and international commercial rose 12%.

Mr Zaffino says use of AI agent teams will improve decision-making and reduce costs over time. One agent may handle submission ingestion and data extraction, another may perform risk evaluation against AIG’s underwriting guidelines, and another could benchmark pricing against portfolio targets, he says.

Large language models can hold “a full file of claims information in context, every endorsement, every loss run, every guideline and reason across it with an audit trail.

“We’re creating a multi-agentic solution with a strong orchestration layer that co-ordinates specialised and trained AI agents ... These agents will communicate and hand off work to each other to augment our underwriters just like a well-functioning underwriting team, but operating at machine speed and with inherent consistency.”

AI can also track timeline inconsistencies, geolocation mismatches, linguistic fingerprints and prior claim patterns, and document tampering signals and coverage gaps.

“I absolutely think in a five-year period that the global capabilities in terms of the AI orchestration across an organisation, not just in underwriting but across from front to back office, will be profound,” Mr Zaffino said.

“How we’re thinking about it at AIG is more capabilities, more insight, more benefit for brokers and clients ... and having the ability in certain markets to be able to grow exponentially when there are opportunities.”