Investor Presentaiton
Other Operations and Legacy Portfolio
($ in millions)
4Q18
4Q19
Other Operations Results:
Total adjusted revenues
$182
$220
Benefits, losses and expenses:
Policyholder benefits and losses incurred
15
10
Acquisition expenses
5
4
Other Operations Key Takeaways
General operating expenses
332
342
Interest expense:
Interest
―
Corporate
264
260
Interest
Other1
Total Interest expense
Total benefits, losses and expenses
17
57
■ Other Operations APTL before consolidation
and eliminations increased slightly due to an
increase in interest expense from consolidated
investment entities of $44 million
281
317
633
673
Adjusted pre-tax loss before consolidation
($451)
($453)
and eliminations
Consolidation, eliminations and other adjustments
31
(133)
Adjusted pre-tax loss
($420)
($586)
($ in millions)
4Q18
4Q19
Legacy Portfolio Results:
General Insurance run-off lines
$7
($8)
Life and Retirement run-off lines
(137)
103
Legacy Investments
(20)
82
Adjusted pre-tax income
($150)
$177
Noteworthy Items (pre-tax):
Catastrophe losses, net of reinsurance in General
Insurance
$28
($2)
Legacy Portfolio Key Takeaways
☐
Legacy Life and Retirement APTI increased
due to higher NII and 4Q18 $105M loss
recognition expense on certain Accident and
Health cancer and disability blocks
Legacy Investments adjusted pre-tax income
increased primarily due to higher NII and lower
GOE
Annual actuarial assumption update charge in Life
and Retirement
($105)
1) Interest expense-other primarily represents interest expense on consolidated investment entities.
AIG
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