AIG Earnings and Investment Portfolio Report
FY'19 and FY'20 noteworthy items
FY'19 - Income/ (Loss)
FY'20 - Income / (Loss)
($M, except per share amounts)
Pre-tax After-tax1
EPS
diluted²
-
Pre-tax After-tax1
EPS -
diluted²
CATS excluding General Insurance COVID-19 CATS
($1,273)
($1,006)
($1.13)
($1,358) ($1,073)
($1.23)
General Insurance COVID-19 CATS
Favorable/(unfavorable) PYD
Charge related to annual actuarial assumption update in
Life and Retirement
(1,093)
(863)
(0.99)
294
232
0.26
74
58
0.07
(173)
(137)
(0.15)
(107)
(85)
(0.10)
Investment Performance:
Better than expected alternative investment returns³,4
451
356
0.40
572
452
0.52
Better than expected fair value changes on Fixed Maturity
Securities Other accounted under FVO³
20
16
0.02
157
124
0.14
Total noteworthy items - APTI basis
($681)
($538)
($0.60) ($1,755) ($1,386)
($1.59)
1) Computed using a U.S. statutory tax rate of 21%.
2) Computed using weighted average diluted shares on an operating basis, which is provided on page 6 of the 4Q20 Financial Supplement.
3) The annualized expected rate of return for FY'19 and FY'20 is 8% and 6% for alternative investments and 6% and 4% for FVO fixed maturity securities, respectively.
AIG 4) Alternative investment returns reflect General Insurance and Life and Retirement alternative investment income only and exclude other operations, which includes the
impact of consolidation and eliminations. On an AIG consolidated basis, better than expected alternative investment returns were $395M, pre-tax, in FY'19 and $460M, pre-
tax, in FY'20.
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