AIG's consolidated net investment income for Q1 2021 was $3.7bn, up 46% from $2.5bn in the turbulent prior year quarter, due to higher income on alternative investments and options on equities at fair value, it revealed in first quarter results.
On an adjusted pre-tax income (APTI) basis, investment income was $3.2bn, increasing 18% compared to the prior year quarter, also due to higher income on alternative investments, higher private equity returns and income from hedge funds.
There were also impacts for how Q1 2021 compared to Q1 2020, as AIG sold its 76.6% stake in Fortitude Group Holdings for $1.8bn to Carlyle Group and T&D United Capital in the 2020 quarter, which had led to an adjusted pre-tax loss of $317m.