AIG Earnings and Investment Portfolio Report
Life and Retirement: Life Insurance 2020 APTI declined driven by higher mortality due to
COVID-19, offset in part by strong equity markets; Institutional Markets APTI reflects strong
private equity returns and growth in reserves
($M)
New Business Sales
Domestic US
International
Premiums and Deposits
APTI
($M)
APTI
Life Insurance
Institutional Markets
$455
(-9% vs. FY19)
59%
41%
$4,413
(+3% vs. FY19)
$142
(-57% vs. FY19)
Key Takeaways
FY20 APTI vs FY19 results reflect
Favorable impacts from:
Equity markets resulting in favorable alternatives, mainly from private
equity returns
Lower GOE
Unfavorable impacts from:
"
"
Lower FVO assets, offset in part by favorable impact from lower
interest rates and tighter credit spreads
Unfavorable impact from annual actuarial assumption update
Mortality, driven by COVID-19
Lower reinvestment rates
Other Key Metrics
Unfavorable impacts from:
New business sales impact on APTI
$438 (+42% vs. FY19)
Premiums and Deposits ($M)
GAAP Reserves ($B)
$27.3
$4,846
$23.6
$8.1
$6.7
$0.1
$2,124
$2.2
$0.6
$2,822
$2.1
$5.1
$2
$71
$717
$5.0
$64 $53
$1,665
$2,320
$8.2
$5.9
$323
FY19
Structured Settlements
AIG
$329
FY20
PRT
■COLI/BOLI
$3.2
FY19
PPVUL/PPVA
$3.6
FY20
■SVW
GIC
Key Takeaways
FY20 vs F19 APTI results reflect
Favorable impacts from:
"
Equity markets resulting in favorable alternatives, mainly from private
equity returns
Higher base investment income, growth in reserves
Unfavorable impacts from:
Lower FVO assets, offset in part by favorable impact from lower
interest rates and tighter credit spreads
Other Key Metrics
Favorable impacts from:
"
Growth in reserves
Definitions: GIC = Guaranteed Investment Contracts | SVW = Stable Value Wrap | COLI/BOLI = Corporate and Bank-owned life insurance | PRT = Pension
Risk Transfer | PPVUL/PPVA = Private placement variable life and annuities
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