General Insurance Financial Overview
Life and Retirement: Life
Insurance shows solid
international life sales, but
continues to experience
adverse mortality;
Institutional Markets had
strong reserve growth
New Business Sales ($M) Premiums and Deposits ($M)
$108
(+4% vs. 4Q20)
35%
$1,206
(+4% vs. 4Q20)
New Business Sales Mix
4Q20
40%
4Q21
Life Insurance
APTI ($M)
($8)
n.m.
4Q21 vs 4Q20 APTI reflects
Favorable impacts from:
■
Higher alternative investments income
Unfavorable impacts from:
■ Adverse mortality, albeit lower than high water
mark at 1Q21
Other Key Metrics
Favorable impacts from:
Premiums and deposits continue to benefit from
solid international life sales
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60%
65%
Domestic (U.S.)
International
APTI ($M)
$165 (+30% vs. 4Q20)
Premiums and Deposits ($M)
GAAP Reserves ($B)
■
$30.2
$1,287
$2,233
$27.3
$7.5
$25
$8.1
$2.7
$0.1
$850
$2.2
$5.1
$2,111
$5.1
$11.5
$4
$369
$64
$97
4Q20
4Q21
- SS
■ PRT
$8.2
$3.6
$3.5
Institutional Markets
4Q21 vs 4Q20 APTI reflects
Favorable impacts from:
Higher alternative investments income
Higher call and tender income
Higher base net investment income driven by
reserve growth
■ Favorable year-over-year impact from non-
recurring items
Other Key Metrics
Favorable impacts from:
Continued year-over-year reserve growth, notably
in PRT business
4Q20
4Q21
■COLI/BOLI ■ HNW ■SVW ■GIC
Definitions: SS = Structured Settlements | PRT = Pension Risk Transfer | COLI/BOLI = Corporate and Bank-owned Life Insurance | HNW = High Net
Worth | SVW = Stable Value Wrap | GIC = Guaranteed Investment Contracts
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