General Insurance Financial Overview
FY'20 and FY'21 noteworthy
items
($M, except per share amounts)
CATS excluding General Insurance COVID-193
General Insurance COVID-19 CATS
Reinstatement premiums related to current year catastrophes
Favorable PYD4
Annual Life and Retirement actuarial assumption
Investment performance:
FY'20
FY'21
EPS -
EPS -
APTI
AATI¹
APTI
AATI¹
Diluted²
diluted²
$1,358
$1,073 $1.23 $1,401 $1,107 $1.28
1,093
863
0.99
1) Computed using a U.S. statutory tax rate of 21%. Adjusted after-tax income
attributable to AIG common shareholders (AATI) is derived by excluding the
tax-effect of Adjusted pre-tax income (APTI), dividends on preferred stock
and noncontrolling interests.
2) Computed using weighted average diluted shares on an AATI basis, which is
provided on page 7 of the 4Q21 Financial Supplement.
3) FY'21 includes $1.4B of CATs, pre-tax in General Insurance and $44M of CATS,
pre-tax in Other Operations primarily related to Blackboard.
4) FY'21 includes $201M of favorable PYD, pre-tax in General Insurance.
5) The annualized expected rate of return for both FY'20 and FY'21 is 6% for
alternative investments and 4% for FVO fixed maturity securities,
respectively, pre-tax.
6) Presented on a consolidated AIG basis, which consists of General Insurance,
Life and Retirement and Other Operations, including consolidation and
eliminations.
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Better than expected alternative investment returns –
consolidated 5,6
Better/(worse) than expected fair value changes on fixed maturity
securities - other accounted under fair value option (FVO)5
14
11
0.01
20
20
16
0.02
74
58
0.07
115
91
0.11
107
85
0.10
166
131
0.15
460
363
0.42
2,063 1,460
1.69
157
124
0.14
(150) (119) (0.14)
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