PitchSend

Investor Presentaiton

Life and Retirement: Institutional Markets driven by disciplined growth with improved margins ($ in millions) Premiums and deposits Premiums Policy fees Net investment income Other income Total adjusted revenues Benefits, losses and expenses Adjusted pre-tax income (APTI) Annual actuarial assumption update APTI, excluding annual actuarial assumption update FY18 FY19 $3,032 $2,758 952 1,861 161 165 786 885 1 1 1,900 2,912 1,654 2,621 $246 $291 $0 $0 $246 $291 Key Takeaways ■ Premiums and deposits reflect significant growth in Pension Risk Transfer throughout the year, offset by lower Guaranteed Investment Contracts ■ Net investment income favorably impacted by increasing asset base driven by disciplined growth in the portfolio and favorable alternative asset returns ■ Maintained pricing and expense discipline while opportunistically growing the portfolio AIG Premiums and Deposits ($M) GAAP Reserves by Line of Business ($B) 8.6% $19.8 $21.5 $3,032 $2,758 $6.7 $6.4 $717 $0.7 $1,946 $53 $1.2 $5.0 $4.8 $1,665 $801 $285 $323 FY18 FY19 ■ Structured Settlements ■Stable Value Wrap $5.9 $4.4 $3.0 $3.2 4Q18 4Q19 ■COLI/BOLI ■ Pension Risk Transfer ■Guaranteed Investment Contracts 28

View entire presentation