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Investor Presentaiton

Non-GAAP Reconciliations Accident Year Loss Ratio, as adjusted, and Accident Year Combined Ratio, as adjusted General Insurance General Insurance - North America Quarterly Quarterly 1Q19 1Q20 Loss ratio 63.1 66.8 Loss ratio 1Q19 69.4 1Q20 72.2 Catastrophe losses and reinstatement premiums (2.7) (6.9)| Catastrophe losses and reinstatement premiums (5.1) (7.0)| Prior year development 1.0 0.9 Prior year development 1.8 0.2 Adjustments for ceded premium under reinsurance contracts Adjustments for ceded premium under reinsurance and other 0.4 contracts and other 1.0 Accident year loss ratio, as adjusted 61.8 60.8 Accident year loss ratio, as adjusted 67.1 65.4 Acquisition ratio 21.8 21.9 Acquisition ratio 19.5 19.6 General operating expense ratio 12.5 12.8 General operating expense ratio 11.4 11.2 Expense ratio 34.3 34.7 Expense ratio 30.9 30.8 Combined ratio 97.4 101.5 Combined ratio 100.3 103.0 Accident year combined ratio, as adjusted 96.1 95.5 Accident year combined ratio, as adjusted 98.0 96.2 General Insurance - North America - Commercial Lines Quarterly General Insurance - North America - Personal Insurance Quarterly 1Q19 1Q20 1Q19 1Q20 Loss ratio 70.7 72.7 Loss ratio 65.4 70.8 Catastrophe losses and reinstatement premiums (5.1) (6.7) Catastrophe losses and reinstatement premiums (5.0) (7.9) Prior year development 2.8 2.2 Prior year development (1.2) (5.1) Adjustments for ceded premium under reinsurance contracts Adjustments for ceded premium under reinsurance and other 1.0 contract 0.9 Accident year loss ratio, as adjusted 69.4 68.2 Accident year loss ratio, as adjusted 60.1 57.8 Acquisition ratio 15.2 15.9 Acquisition ratio 32.5 29.6 General operating expense ratio 11.8 11.4 General operating expense ratio 10.4 10.6 Expense ratio 27.0 27.3 Expense ratio 42.9 40.2 Combined ratio 97.7 100.0 Combined ratio 108.3 111.0 Accident year combined ratio, as adjusted 96.4 95.5 Accident year combined ratio, as adjusted 103.0 98.0 AIG 36
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