Investor Presentaiton
Strong capital position at the parent company
and principal insurance companies
Capital Structure ($B)
Year /
$90.8
$89.9
$1.5
Hybrids
$1.5
Quarter
End
Risk Based Capital (RBC) Ratios³
Life and Retirement
Companies
General Insurance
Companies
$21.8
■Financial Debt¹
$25.5
$1.8
NCI
$5.0
$0.6
2018
389% (CAL)
394% (ACL)
$5.0
$9.0
$0.5
$0.5
AOCI²
$8.6
■Preferred Equity
Total Equity:
$67.4
Total Equity:
$62.8
2019
402% (CAL)
419% (ACL)
■Tax attribute DTA
$51.2
$48.2
Adjusted S/E
2Q20E4
420% -430% (CAL)
440%-450% (ACL)
December 31, 2019
June 30, 2020
Dec. 31, June 30,
Pending finalization of Statutory financials
Credit Ratings5
Ratios:
Hybrids / Total capital
2019
2020
1.7%
1.7%
S&P
Moody's
Fitch
A.M. Best
Financial debt / Total capital
24.0%
28.4%
Total Hybrids & Financial debt / Total capital
25.7%
30.1%
AIG - Senior Debt
BBB+
Baa1
BBB+
NR
Preferred stock / Total capital
0.5%
0.5%
General
Insurance - FSR
A+
A2
A
A
Total debt and preferred stock / Total capital
26.2%
30.6%
Total debt and preferred stock /
27.8%
32.4%
Total capital (ex. AOCI)2
Life and
Retirement - FSR
A+
A2
A+
A
AIG
1) Includes AIG notes, bonds, loans and mortgages payable, AIG Life Holdings, Inc. (AIGLH) notes and bonds payable and junior subordinated debt, and Validus notes and bonds payable.
2) June 30, 2020 AOCI is computed as GAAP AOCI of $9.2B excluding $4.2B of cumulative unrealized gains and losses related to Fortitude Re's funds withheld assets.
3) The inclusion of RBC measures is intended solely for the information of investors and is not intended for the purpose of ranking any insurance company or for use in connection with any
marketing, advertising or promotional activities. ACL is defined as Authorized Control Level and CAL is defined as Company Action Level. RBC ratio for Domestic Life and Retirement
companies excludes holding company, AGC Life Insurance Company. 2018 RBC ratio for Life and Retirement reflects the impact of tax reform.
4) Preliminary range subject to change with completion of statutory closing process.
5) As of the date of this presentation, S&P, Moody's, and A.M. Best have Stable outlooks. Fitch has a Negative outlook, with the exception of the Non-Life Insurance Companies, which is
Stable. For General Insurance companies FSR and Life and Retirement companies FSR, ratings only reflect those of the core insurance companies.
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