AIG Earnings and Investment Portfolio Report
Other Operations: APTL increased principally due to higher consolidation and
eliminations from consolidated investment entities, the sale of Fortitude in 2Q20,
as well as higher interest expense from May 2020 bond issuance
AIG
($M)
Corporate and Other
Asset Management
Adjusted pre-tax loss before consolidation and eliminations
Consolidation and eliminations:
Consolidation and eliminations - Consolidated investment entities
Consolidation and eliminations - Other
Total Consolidation and eliminations
Adjusted pre-tax loss
Key Takeaways:
4Q19
4Q20
($301)
($519)
10
91
($291)
($428)
(126)
(285)
(8)
(7)
(134)
(292)
($425)
($720)
■ Fourth quarter APTL was $720M, including $292M of reductions from consolidation and eliminations,
compared to APTL of $425M, including $134M of reductions from consolidation and eliminations, in the
prior year quarter. The increase in consolidation and eliminations from 4Q19 reflects the impact of
consolidated investment entities
☐
Before consolidation and eliminations, the increase in APTL was primarily due to lower NII associated with
available for sale securities; the sale of Fortitude in 2Q20, which had APTI of $70M in 4Q19; and increased
interest expense related to debt issuances in 2Q20
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