American International Group management check
AIG · Financials · Multi-line Insurance · CEO Peter Zaffino
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $253, against $234 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.05 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.0% of net income$32.5m of reported pay in fiscal 2025, against $3.1bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $18.1m sold in six months. 3 of 3 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -11.3% a year over the last three fiscal years. Stock-based pay was 0.8% of revenue in the latest year.
- Flag
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Peter Zaffino, Brian Duperreault. 19 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 60 | 49 | |
| Pay for performance | 48 | 83 | |
| CEO cost | 48 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 100 | 69 | |
| Stable leadership | 0 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Multi-line Insurance, by management score. American International Group is 57th of 72 in its sector.
- 95LLoews Corporation77
- 265AIZAssurant64
- 316GPNGlobal Payments60
- 322BROBrown & Brown60
- 329TROWT. Rowe Price59
- 332AIGAmerican International Group59
Pay versus performance
From the proxy statement filed March 31, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Peter Zaffino | $32.5m | $68.0m | $6.9m | $253 | $234 | $3.1bn |
| 2024 | Peter Zaffino | $24.6m | $33.9m | $6.5m | $211 | $213 | −$926.0m |
| 2023 | Peter Zaffino | $24.6m | $38.7m | $8.1m | $192 | $157 | $3.9bn |
| 2022 | Peter Zaffino | $75.3m | $90.8m | $9.1m | $175 | $142 | $11.3bn |
| 2021 | Peter Zaffino, Brian Duperreault | $21.9m | $52.4m | $10.5m | $154 | $119 | $10.9bn |
The board says pay is tied most to AYCR, as adjusted*. Its other key measures: Accident Year Combined Ratio, as adjusted*, Calendar Year Combined Ratio, Diluted Adjusted After-tax Income Attributable to AIG Common Shareholders Per Share*, Core Operating Return on Equity*, Relative Total Shareholder Return.
Insiders and the CEO's stake
Light activity: no buys, $18.1m sold in six months. 3 of 3 sales ran on pre-arranged 10b5-1 plans.
- SoldPeter ZaffinoExecutive Chair · 10b5-1 plan$18.1mAug 13, 2026
Leadership and governance on file
- Sep 16, 2026Leadership change8-K 5.02
- Sep 2, 2026Leadership change8-K 5.02
- May 14, 2026Leadership change8-K 5.02
- Apr 27, 2026Leadership change8-K 5.02
- Mar 16, 2026Leadership change8-K 5.02
- Jan 6, 2026Leadership change8-K 5.02
- Nov 14, 2025Leadership change8-K 5.02
- Oct 3, 2025Leadership change8-K 5.02
- Aug 18, 2025Leadership change8-K 5.02
- Jul 21, 2025Leadership change8-K 5.02
- Feb 20, 2025Leadership change8-K 5.02
- Nov 8, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 14, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $28.3bn returned to owners in buybacks and dividends, 109% of net income, and $1.2bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $52.2bn | $30.0bn | $27.9bn | $27.3bn | $26.8bn |
| Net income | $10.4bn | $10.2bn | $3.6bn | −$1.4bn | $3.1bn |
| Stock-based pay | $278.0m | $288.0m | $199.0m | $211.0m | $207.0m |
| Buybacks | $2.6bn | $5.2bn | $3.0bn | $6.7bn | $5.8bn |
| Dividends | $1.1bn | $982.0m | $997.0m | $1.0bn | $976.0m |
| Diluted shares | 865m | 788m | 725m | 657m | 570m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.