AIG 200 Strategic Update

General Insurance: 3.7 pt improvement in North America Commercial Lines AYCR, as adjusted; Personal Insurance impacted by Travel and Syndicate 2019 ($M) Net premiums written Commercial Lines Personal Insurance 1Q20 $2,699 2,154 545 1Q21 $2,930 2,787 143 Net premiums earned $2,731 $2,388 Commercial Lines Personal Insurance 1,957 774 2,037 351 ($103) ($202) Commercial Lines (18) (136) Personal Insurance (85) (66) Note: Impact of CATS, pre-tax ($185) ($361) Underwriting loss Key Takeaways: ■ NA Commercial Lines NPW grew 29% over 1Q20 reflecting continued strong rate increases across most lines, improved retention and higher new business volumes. NA Personal Insurance NPW decreased 74% reflecting the combined impact of the creation of Syndicate 2019 and cessions placed on the PCG business, which occurred in 2Q20, and the impact of COVID-19 on Travel premiums ■ NA Commercial Lines AYCR, as adjusted, improved 3.7 pts reflecting improved business mix along with rate increases ■ NA Personal Insurance AYCR, as adjusted, increased 7.9 pts due to the impact of COVID-19 most notably on the Travel business and the change in business mix driven by changes to PCG business as described above. The GOE ratio was impacted negatively by the reduction in net premiums earned, offset slightly by a lower acquisition ratio ■ CATS of $361M primarily related to winter storms ■ Favorable PYD of $58M with $53M in Commercial Lines and $5M in Personal Insurance; PYD includes $52M of favorable amortization from the ADC North America Combined Ratios Total Commercial Lines Personal Insurance 103.8% 108.4% 100.9% 106.7% 111.0% 118.8% 6.8% 15.2% 6.3% 15.4% 7.9% 14.5% (0.7%) 2.4% (3.0%) (2.6%) 5.1% (1.6%) 97.7% 95.6% 97.6% AYCR, as 93.9% 98.0% Change 105.9% AYCR, as primarily 11.0% adjusted, 12.0% 11.2% adjusted, 10.6% 18.5% 10.8% driven by the 20.1% improved 16.8% 16.3% improved 15.8% 29.6% impact of 23.1% 2.1 pts 3.7 pts COVID-19 on Travel and the AYLR, as formation of 66.6% 66.8% 70.1% adjusted, 67.3% 57.8% 64.3% Syndicate improved 2019 2.8 pts 1Q20 AIG 1Q21 1Q20 CYCR CAT Ratio PYD Ratio AYCR, As adjusted 1Q21 1Q20 GOE Ratio Acquisition Ratio AYLR, As adjusted 1Q21 8

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