AIG General Insurance and Life & Retirement Earnings
Other Operations: APTL increased due in-part to the impact of Fortitude which
was deconsolidated in 2Q20
($M)
Corporate and Other
Asset Management
2Q20
2Q21
($248)
($617)
(84)
101
Adjusted pre-tax loss before consolidation and eliminations
($332)
($516)
Consolidation and eliminations:
Consolidation and eliminations - consolidated investment entities
Consolidation and eliminations - Other
63
(87)
(10)
(7)
Total Consolidation and eliminations
53
(94)
Adjusted pre-tax loss
Impact of Fortitude APTI, included in Corporate and Other above
($279)
($610)
$96
APTL before consolidation and eliminations, excluding the impact of Fortitude
($428)
($516)
Key Takeaways:
■ 2Q21 APTL was $610M, including $94M of reductions from consolidation and eliminations, compared to APTL of $279M,
including additions of $53M from consolidation and eliminations, in 2Q20. The increase in consolidation and eliminations
APTL reflects the impact of consolidated investment entities, principally for fixed maturity securities and private equity
■ Before consolidation and eliminations, the increase in APTL primarily reflects the impact of Fortitude, which was sold and
deconsolidated in 2Q20 and had APTI of $96M in 2Q20. Additionally, 2Q21 results also includes net unfavorable PYD of
$65M, primarily related to Blackboard and other run-off businesses, and increased incentive program accrual to reflect
strong performance to date
AIG
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