General Insurance Financial Overview
Other Operations: APTL
improved due to higher NII
and lower interest expense
Other Operations APTL was $648M in 4Q21, including
$470M of reductions from consolidation and eliminations,
compared to APTL of $720M, including $292M of reductions
from consolidation and eliminations, in 4Q20; the increase
in consolidation and eliminations APTL reflects the
elimination of the General Insurance and Life and
Retirement segment net investment income on their
investment in consolidated investment entities that is
accounted for as realized capital gains or losses in
consolidation
Before consolidation and eliminations, the decrease in
APTL reflects higher net investment income, primarily from
realized gains from property sales in the real estate
portfolio, and lower corporate interest expense resulting
from 2021 debt redemption and repurchase activity,
partially offset by higher corporate GOE including increased
in performance-based employee compensation
($M)
Corporate and Other
Asset Management
Adjusted pre-tax loss before consolidation and eliminations
Consolidation and eliminations:
Consolidation and eliminations - consolidated investment entities
Consolidation and eliminations - Other
Total Consolidation and eliminations
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Adjusted pre-tax loss
4Q20
4Q21
($519)
($577)
91
399
($428)
($178)
(285)
(469)
(7)
(1)
(292)
(470)
($720)
($648)
17View entire presentation