AIG Earnings and Investment Portfolio Report
Life and Retirement: Individual and Group Retirement APTI reflect strong equity markets,
offset largely by base spread compression and lower income from FVO bonds
Individual Retirement*
Key Takeaways
FY20 vs FY19 APTI results reflect
Favorable impacts from:
Lower GOE
Unfavorable impacts from:
Premiums and
Deposits ($M)
Net Flows
($M)
Assets Under
Administration
($B)
APTI ($M)
"
Equity markets resulting in higher fees and favorable alternatives, mainly from
private equity returns
"
$10,370
(-30% vs. FY19)
($4,728)
$ 163.4
$1,938
(+5% vs. FY19) (-2% vs. FY19)
Base Net Investment Spreads
Total Net Investment Spreads
3.58%
3.05%
3.04%
2.63%
2.16%
1.86%
1.53%
2.00%
Fixed Annuities
Variable and Index
Annuities
Fixed Annuities
Variable and Index
Annuities
■FY19 FY20
■FY19 FY20
Group Retirement
$1,013
(+10% vs. FY19) (+8% vs. FY19)
Assets Under
Premiums and
Deposits ($M)
Net Flows
($M)
Administration
($B)
APTI ($M)
$7,496
(-10% vs. FY19)
($1,940)
$ 130.1
Base Net Investment Spreads
1.81%
1.61%
Total Net Investment Spreads
2.16%
2.09%
■FY19 FY20
Lower FVO assets, offset in part by favorable impact from lower interest rates
and tighter credit spreads
Unfavorable impact from annual actuarial assumption update
Base spread compression
Total investment spreads
Other Key Metrics
Favorable impacts from:
Assets under administration growth
Unfavorable impacts from:
Net flows
Key Takeaways
FY20 vs FY19 APTI results reflect
Favorable impacts from:
"
Equity markets resulting in higher fees, lower DAC amortization and favorable
alternatives, mainly from private equity returns
Favorable impact from annual actuarial assumption update
Unfavorable impacts from:
Lower FVO assets, offset in part by favorable impact from lower interest rates
and tighter credit spreads
Base spread compression
Total investment spreads
Other Key Metrics
Favorable impacts from:
Net flows
Assets under administration growth
■FY19 FY20
AIG
* Includes Retail Mutual Funds
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