AIG Earnings and Investment Portfolio Report
Non-GAAP Reconciliations
Net Premiums Written - Change in Constant Dollar
General Insurance
Foreign exchange effect on worldwide premiums:
Change in net premiums written
Increase (decrease) in original currency
Foreign exchange effect
Increase (decrease) as reported in U.S. dollars
Reconciliation of Net Investment Income
Global -
Commercial Lines
4Q20
7 %
1
8
%
Quarterly
International -
Commercial Lines
4Q20
5 %
2
7 %
Twelve Months Ended
December 31,
(in millions)
Net investment income per Consolidated Statements of Operations
4Q19
4Q20
2019
2020
$
3,587
$
3,957 $
14,619
$
13,631
Changes in fair value of securities used to hedge guaranteed living benefits
Changes in the fair value of equity securities
(16)
(14)
(229)
(56)
(152)
(216)
(158)
(200)
Net investment income on Fortitude Re funds withheld assets
(479)
(1,053)
Net realized capital gains (losses) related to economic hedges and other
Total Net investment income - APTI Basis
43
(22)
158
(1)
$
3.462
$
3,226 $
14.390
$
12,321
Add: Investment expenses
Add: Consolidation and eliminations
144
129
525
541
166
307
385
572
AIG investment income, APTI basis
$
3.772
$
3.662 $
15,300
S
13.434
Consolidation and eliminations
(166)
(307)
(385)
(572)
Net realized capital (gains) losses related to economic hedges and other
Gross investment income, APTI basis
(43)
22
(158)
1
$
3.563
$
3.377 $
14.757 S
12.863
Less: Impact of Fortitude Re prior to deconsolidation
(510)
(1,951)
(521)
Gross investment income, APTI basis, excluding the impact of
Fortitude Re for all periods, including periods prior to deconsolidation
$
3,053
$
3,377 $
12,806 S
12,342
Total Net investment income -APTI Basis
$
3,462
$
3,226 $
Less: Impact of Fortitude Re prior to deconsolidation
(498)
14,390
(1,900)
$
12,321
(499)
Total Net investment income - APTI Basis, excluding the impact of
Fortitude Re for all periods, including periods prior to deconsolidation
$
2,964
$
3.226 $
12.490
11,822
AIG
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