AIG General Insurance and Life & Retirement Earnings
Cautionary Statement Regarding Forward-Looking Information,
Comment on Regulation G and Other Information
This document and the remarks made within this presentation may include, and officers and representatives of American International Group, Inc. (AIG) may from time to time make
and discuss, projections, goals, assumptions and statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of
1995. These projections, goals, assumptions and statements are not historical facts but instead represent only a belief regarding future events, many of which, by their nature, are
inherently uncertain and outside AIG's control. These projections, goals, assumptions and statements include statements preceded by, followed by or including words such as "will,"
"believe," "anticipate,” “expect,” “intend,” “plan,” “focused on achieving," "view," "target," "goal" or "estimate." These projections, goals, assumptions and statements may relate to
future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies
such as legal proceedings, anticipated organizational, business or regulatory changes, the effect of catastrophes, such as the COVID-19 crisis, and macroeconomic events,
anticipated dispositions, monetization and/or acquisitions of businesses or assets, or successful integration of acquired businesses, management succession and retention plans,
exposure to risk, trends in operations and financial results. It is possible that AIG's actual results and financial condition will differ, possibly materially, from the results and financial
condition indicated in these projections, goals, assumptions and statements. Factors that could cause AIG's actual results to differ, possibly materially, from those in the specific
projections, goals, assumptions and statements include: AIG's ability to successfully separate the Life and Retirement business from AIG and the impact any separation may have on
AIG, its businesses, employees, contracts and customers; AIG's ability to close the transactions announced as part of a strategic partnership with Blackstone; changes in market and
industry conditions, including the significant global economic downturn, volatility in financial and capital markets, fluctuations in interest rates, prolonged economic recovery and
disruptions to AIG's operations driven by COVID-19 and responses thereto, including new or changed governmental policy and regulatory actions; the occurrence of catastrophic
events, both natural and man-made, including COVID-19, other pandemics, civil unrest and the effects of climate change; the adverse impact of COVID-19, including with respect to
AIG's business, financial condition and results of operations; AIG's ability to effectively execute on AIG 200 transformational programs designed to achieve underwriting excellence,
modernization of AIG's operating infrastructure, enhanced user and customer experiences and unification of AIG; the impact of potential information technology, cybersecurity or data
security breaches, including as a result of cyber-attacks or security vulnerabilities, the likelihood of which may increase due to extended remote business operations as a result of
COVID-19; disruptions in the availability of AIG's electronic data systems or those of third parties; actions by rating agencies with respect to our credit and financial strength ratings;
AIG's ability to successfully dispose of, monetize and/or acquire businesses or assets or successfully integrate acquired businesses; changes to the valuation of AIG's investments;
changes in judgments concerning the recognition of deferred tax assets and the impairment of goodwill; availability and affordability of reinsurance; the effectiveness of our risk
management policies and procedures, including with respect to our business continuity and disaster recovery plans; nonperformance or defaults by counterparties, including Fortitude
Reinsurance Company Ltd. (Fortitude Re); changes in judgments concerning potential cost-saving opportunities; concentrations in AIG's investment portfolios; changes to our
sources of or access to liquidity; changes in judgments or assumptions concerning insurance underwriting and insurance liabilities; the effectiveness of strategies to recruit and retain
key personnel and to implement effective succession plans; the requirements, which may change from time to time, of the global regulatory framework to which AIG is subject;
significant legal, regulatory or governmental proceedings; and such other factors discussed in Part I, Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations (MD&A) in AIG's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 (which will be filed with the Securities and Exchange
Commission), Part I, Item 2. MD&A in AIG's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021 and Part I, Item 1A. Risk Factors and Part II, Item 7. MD&A
in AIG's Annual Report on Form 10-K for the year ended December 31, 2020. AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any
projections, goals, assumptions or other statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.
On October 26, 2020, AIG announced its intention to separate the Life and Retirement business from AIG. This document and the remarks made within this presentation are not an
offer to sell, or a solicitation of an offer to buy any securities. On July 14, 2021, AIG and Blackstone announced a strategic partnership including three components: (1) Blackstone
agreed to purchase a 9.9% equity stake in Life & Retirement for $2.2B in cash, (2) a strategic asset management relationship for a portion of Life & Retirement's investment portfolio;
and (3) the sale of certain Affordable Housing assets to Blackstone Real Estate Income Trust, Inc. for $5.1B in cash.
This document and the remarks made orally may also contain certain financial measures not calculated in accordance with generally accepted accounting principles (non-GAAP). The
reconciliation of such measures to the most comparable GAAP measures in accordance with Regulation G is included in the earnings release and Second Quarter 2021 Financial
Supplement available in the Investor Information section of AIG's corporate website, www.aig.com, as well as in the Appendix to this presentation.
Note: Amounts presented may not foot due to rounding.
AIG
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