AIG Earnings and Investment Portfolio Report
Commercial Lines
4Q19
$3,191
1,554
4Q20
$3,204
1,662
Personal Insurance
1,637
1,542
Net premiums earned
$3,424
$3,390
Commercial Lines
1,720
1,771
General Insurance: Strong 3.9 pt improvement in International AYCR, as
adjusted, due to improved business mix along with rate increases
($M)
Net premiums written
Key Takeaways:
■ International Commercial Lines NPW grew 7% from the prior year quarter
reflecting strong rate momentum and improving retention across most lines.
International Personal Insurance NPW decreased due to the impact from
COVID-19 on the Travel business
■ International Commercial Lines AYCR, as adjusted, improved 4.9 pts due to
enhanced risk selection along with rate increases
Personal Insurance
1,704
1,619
■ International Personal Insurance AYCR, as adjusted, improved 2.9 pts reflecting
lower claims frequency and changes in business mix
Underwriting income
$108
$218
Commercial Lines
52
138
Personal Insurance
56
80
Note: Impact of CATS, pre-tax
($98)
($68)
■ CATS of $68M; ($4M) CAT recovery related to non-COVID-19 CATS and $72M
related to COVID-19 CATS
■ Favorable PYD of $6M driven by $21M favorable PYD in Commercial Lines
offset by $15M unfavorable PYD in Personal Insurance
International Combined Ratios
Total
Commercial Lines
Personal Insurance
93.6%
96.9%
96.9%
92.1%
96.8%
95.0%
3.3%
3.2%
2.1%
3.0%
4.0%
(1.9%)
(0.2%)
(0.2%)
(3.5%)
0.9%
(1.1%)
95.6%
91.7%
94.1%
97.0%
94.1%
AYCR, as
AYCR, as
89.2%
AYCR, as
15.2%
adjusted,
14.7%
14.4%
16.0%
adjusted,
13.9%
adjusted,
15.4%
improved
improved
improved
23.3%
20.3%
3.9 pts
23.0%
4.9 pts
19.4%
26.3%
2.9 pts
26.9%
AYLR, as
AYLR, as
57.1%
adjusted,
59.4%
adjusted,
54.0%
55.9%
improved
improved
3.1 pts
3.5 pts
4Q19
4Q20
4Q19
4Q20
CYCR
CAT Ratio PYD Ratio AYCR, As adjusted
GOE Ratio
Acquisition Ratio
4Q19
AYLR, As adjusted
AYLR, as
54.7%
adjusted,
51.8%
improved
2.9 pts
4Q20
AIG
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