AIG Earnings and Investment Portfolio Report
Non-GAAP Reconciliations
Accident Year Loss Ratio, as adjusted, and Accident Year Combined Ratio, as adjusted
General Insurance
Twelve Months
Twelve Months
Ended
December 31,
Quarterly
Ended
December 31,
General Insurance - North America
Quarterly
4Q19
4Q20
2019
2020
4Q19
4Q20
2019
2020
Loss ratio
65.6
70.2
65.2
71.0
Loss ratio
74.0
88.9
73.1
84.6
Catastrophe losses and reinstatement
premiums
Catastrophe losses and reinstatement
(6.5)
(9.0)
(4.8)
(10.3)
premiums
(10.4)
(18.0)
(6.8)
(16.7)
Prior year development
2.2
(0.9)
1.1
0.1
Prior year development
2.6
(2.2)
1.0
1.2
Adjustments for ceded premium under
Adjustments for ceded premium under
reinsurance contracts and other
0.3
0.1
reinsurance contracts and other
0.7
0.2
(0.1)
Accident year loss ratio, as adjusted
61.6
60.3
61.6
60.8
Accident year loss ratio, as adjusted
66.9
68.7
67.5
69.0
Acquisition ratio
21.4
19.8
21.8
20.4
Acquisition ratio
19.1
15.6
19.8
16.7
General operating expense ratio
12.8
12.8
12.6
12.9
General operating expense ratio
10.1
10.4
10.2
11.3
Expense ratio
34.2
32.6
34.4
33.3
Expense ratio
29.2
26.0
30.0
28.0
Combined ratio
99.8
102.8
99.6
104.3
Combined ratio
103.2
114.9
103.1
112.6
Accident year combined ratio, as adjusted
95.8
92.9
96.0
94.1
Accident year combined ratio, as adjusted
96.1
94.7
97.5
97.0
Twelve Months
Twelve Months
General Insurance - North America -
Commercial Lines
Quarterly
Ended
December 31,
General Insurance - North America -
Ended
Personal Insurance
Quarterly
December 31,
4Q19
4Q20
2019
2020
4Q19
4Q20
2019
2020
Loss ratio
84.7
89.3
79.0
85.4
Loss ratio
45.7
86.0
57.0
80.9
Catastrophe losses and reinstatement
Catastrophe losses and reinstatement
premiums
(8.7)
(17.4)
(6.3)
(16.7)
premiums
(14.8)
(22.6)
(8.1)
(16.9)
Prior year development
(3.2)
(1.4)
0.3
2.2
Prior year development
17.8
(8.0)
2.8
(4.0)
Adjustments for ceded premium under
Adjustments for ceded premium under
reinsurance contracts and other
Accident year loss ratio, as adjusted
0.7
0.2
reinsurance contract
0.6
0.3
73.5
70.5
73.2
70.9
Accident year loss ratio, as adjusted
49.3
55.4
52.0
60.0
Acquisition ratio
13.5
14.0
14.6
14.3
Acquisition ratio
34.0
27.1
33.8
28.1
General operating expense ratio
10.6
9.1
10.5
10.3
General operating expense ratio
8.9
20.1
9.2
15.7
Expense ratio
24.1
23.1
25.1
24.6
Expense ratio
42.9
47.2
43.0
43.8
Combined ratio
108.8
112.4
104.1
110.0
Combined ratio
88.6
133.2
100.0
124.7
Accident year combined ratio, as adjusted
97.6
93.6
98.3
95.5
Accident year combined ratio, as adjusted
92.2
102.6
95.0
103.8
AIG
38View entire presentation