Investor Presentaiton
Life and Retirement: Institutional Markets driven by disciplined
growth with improved margins
($ in millions)
4Q18
4Q19
Premiums and deposits
Premiums
Policy fees
Net investment income
Other income
Total adjusted revenues
$848
$545
Key Takeaways
816
501
40
41
205
1
1,062
769
Benefits, losses and expenses
1,012
691
227
0
■ Premiums and deposits are lower than 4Q18 as Pension Risk
Transfer issuance declined
■ 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
Adjusted pre-tax income (APTI)
$50
$78
Premiums and Deposits ($M)
GAAP Reserves by Line of Business ($B)
$848
8.6%
$19.8
$21.5
AIG
$6.7
$545
$6.4
$0.7
$761
$1.2
$5.0
$4.8
$450
$5.9
$4.4
$87
4Q18
■ Structured Settlements
■Stable Value Wrap
$94
$1
4Q19
$3.0
$3.2
4Q18
4Q19
■ Pension Risk Transfer
■COLI/BOLI
■ Guaranteed Investment Contracts
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