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Investor Presentaiton

Changes to Non-GAAP Measures AIG has updated its Non-GAAP measures to adjust for the FWA, as the associated earnings are passed through to Fortitude Re (in millions) Pre-tax income (loss) from continuing operations Adjustments to arrive at Adjusted pre-tax income (loss) Changes in fair value of securities used to hedge guaranteed living benefits Changes in benefit reserves and DAC, VOBA and SIA related to net realized capital gains (losses) Changes in the fair value of equity securities Loss (gain) on extinguishment of debt Net investment income on Fortitude Re funds withheld assets (a) Net realized capital (gains) losses on Fortitude Re funds withheld assets (a) Net realized capital (gains) losses on Fortitude Re funds withheld embedded derivative (a) Net realized capital (gains) losses (b) (Income) loss from divested businesses Non-operating litigation reserves and settlements Unfavorable (favorable) prior year development and related amortization changes ceded under retroactive reinsurance agreements Net loss reserve discount (benefit) charge Integration and transaction costs associated with acquired businesses Restructuring and other costs Non-recurring costs related to regulatory or accounting changes Adjusted pre-tax income (loss) (a) Represents activity subsequent to the deconsolidation of Fortitude Re on June 2, 2020. AIG 2Q20 S (9,661) (16) (255) (56) (116) (96) 837 1,619 8,412 (33) 16 4 134 14 S 803 ā˜ Adjusted Pre-tax Income Updated APTI NII to exclude NII on Fortitude Re FWA; AIG has updated its Non-GAAP measures to remove the impacts associated with the FWA, as the associated earnings and economics are passed through to Fortitude Re - Change in presentation of net realized capital gains and losses (RCGL) ā€“ RCGL continues to be excluded from APTI, but the Fortitude Re FWA and embedded derivative are identified separately 24
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