General Insurance Financial Overview
Non-GAAP Reconciliations-
Return on Common Equity
Return on Common Equity
(in millions)
Return On Common Equity Computations
Twelve Months Ended
Quarterly
December 31,
4Q20
4Q21
2020
2021
Actual or Annualized net income (loss) attributable to AIG
Actual or Annualized adjusted after-tax income attributable to
common shareholders (a)
AIG common shareholders (b)
Average AIG Common Shareholders' equity (c)
Less: Average AOCI
Add: Average cumulative unrealized gains and losses related to
Fortitude Re funds withheld assets
Less: Average DTA*
Average adjusted common shareholders' equity (d)
ROCE (a+c)
Adjusted return on common equity (b÷d)
$
(240) $
14,956 $
(5,973) $
9,359
St St
3,308 $
64,750 $
5,356 $
2,201 $
4,430
64,925
$
63,225
$
64,704
12,245
7,647
7,529
9,096
4,525
2,879
2,653
3,200
8,015
6,152
8,437
7,025
49,015 $
54,005 $
49,912 $
51,783
(0.4%)
23.0%
(9.4%)
14.5%
6.7%
9.9%
4.4%
8.6%
Life and Retirement
(in millions)
Adjusted pre-tax income
Quarterly
Twelve Months Ended
December 31,
4Q20
4Q21
1,027
$
969
$
2020
3,531
2021
$
3,911
Interest expense on attributed financial debt
70
72
285
291
Adjusted pre-tax income including attributed interest expense
957
897
3,246
3,620
Income tax expense
185
181
640
724
Adjusted after-tax income
772
$
716
2,606
$
2,896
Dividends declared on preferred stock
2
2
8
8
Adjusted after-tax income attributable to common
shareholders (a)
$
770
$
714
$
2,598
$
2,888
Ending adjusted segment common equity
$
19,172
$
20,525
es
$
19,172
$
20,525
Average adjusted segment common equity (b)
19,297
20,880
19,128
20,369
Return on adjusted segment common equity (a+b)
16.0 %
13.7 %
13.6 %
14.2 %
Total segment shareholder's equity
$
29,688
$
28,063
Less: Preferred equity
128
138
29,688
128
28,063
138
Total segment common equity
29,560
27,925
29,560
27,925
Less: Accumulated other comprehensive income (AOCI)
Add: Cumulative unrealized gains and losses related to
14,613
10,029
14,613
10,029
Fortitude Re funds withheld assets
4,225
2,629
4,225
2,629
Total adjusted segment common equity
S
19,172
$
20,525
19,172
20,525
AIG Copyright © 2022 by American International Group, Inc. All rights reserved.
No part of this document may be reproduced, republished or reposted
without the permission of AIG.
* Represents deferred tax assets only related to U.S. net operating loss and foreign tax credit carryforwards on a U.S. GAAP basis and excludes other balance sheet
deferred tax assets and liabilities.
35View entire presentation