AIG Earnings and Investment Portfolio Report
Non-GAAP Reconciliations
Accident Year Loss Ratio, as adjusted, and Accident Year Combined Ratio, as adjusted
Twelve Months
Twelve Months
General Insurance - International
Quarterly
Ended
December 31,
General Insurance - International -
Commercial Lines
Quarterly
Ended
December 31,
4Q19
4Q20
2019
2020
4Q19
4Q20
2019
2020
Loss ratio
58.4
55.9
58.6
60.5
Loss ratio
62.2
58.8
63.0
66.8
Catastrophe losses and reinstatement
premiums
Catastrophe losses and reinstatement
(3.2)
(2.1)
(3.2)
(5.3)
premiums
(3.0)
(4.0)
(3.5)
(8.5)
Prior year development
1.9
0.2
1.1
(0.7)
Prior year development
0.2
1.1
0.4
(1.8)
Adjustment for ceded premium under
Accident year loss ratio, as adjusted
59.4
55.9
59.9
56.5
reinsurance contract
0.1
Accident year loss ratio, as adjusted
57.1
54.0
56.6
54.5
Acquisition ratio
20.3
19.4
20.3
19.8
Acquisition ratio
General operating expense ratio
14.4
13.9
14.3
13.8
23.3
23.0
23.6
23.2
Expense ratio
34.7
33.3
34.6
33.6
General operating expense ratio
15.2
14.7
14.7
14.2
Expense ratio
38.5
37.7
38.3
37.4
Combined ratio
96.9
92.1
97.6
100.4
Combined ratio
96.9
93.6
96.9
97.9
year
Accident combined ratio, as adjusted
94.1
89.2
94.5
90.1
Accident year combined ratio, as adjusted
95.6
91.7
94.9
91.9
Twelve Months
General Insurance - International -
Ended
General Insurance - Global Commercial
Lines
Twelve Months
Personal Insurance
Quarterly
December 31,
Quarterly
Ended
December 31,
4Q19
4Q20
2019
2020
4Q19
4Q20
2019
2020
Loss ratio
54.5
52.7
54.3
53.7
Loss ratio
74.7
76.0
71.9
77.1
Catastrophe losses and reinstatement
Catastrophe losses and reinstatement
premiums
(3.3)
(2.9)
(1.8)
premiums
(6.2)
(11.6)
(5.0) (13.1)
Prior year development
3.5
(0.9)
1.9
0.4
Prior year development
(1.7)
(0.3)
0.3
0.5
Accident year loss ratio, as adjusted
54.7
51.8
53.3
52.3
Adjustments for ceded premium under
reinsurance contracts and other
0.4
0.1
Acquisition ratio
26.3
26.9
26.8
26.8
Accident year loss ratio, as adjusted
67.2
64.1
67.3
64.5
General operating expense ratio
16.0
15.4
15.1
14.8
Expense ratio
Acquisition ratio
16.6
16.4
17.1
16.8
42.3
42.3
41.9
41.6
General operating expense ratio
12.3
11.2
12.2
11.9
Expense ratio
28.9
27.6
29.3
28.7
Combined ratio
96.8
95.0
96.2
95.3
Accident year combined ratio, as adjusted
97.0
94.1
95.2
93.9
Combined ratio
103.6
103.6
101.2
105.8
Accident year combined ratio, as adjusted
96.1
91.7
96.6
93.2
AIG
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