AIG Earnings and Investment Portfolio Report
Life and Retirement: Life Insurance APTI reflects COVID-19 mortality impact, offset in part by strong
private equity returns and favorable impacts from lower interest rates and tighter credit spreads;
Institutional Markets APTI reflects strong private equity returns and growth in reserves
($M)
New Business Sales
Domestic US
International
Premiums and Deposits
APTI
Life Insurance
Institutional Markets
$104
(-5% vs. 4Q19)
65%
35%
$1,156
(+5% vs. 4Q19)
$30
(-55% vs. 4Q19)
$127 (+55% vs. 4Q19)
($M)
APTI
Premiums and Deposits ($M)
GAAP Reserves ($B)
$27.3
$8.1
$23.6
$1,287
$6.7
$0.1
$2.2
$0.6
$2.1
$850
$5.1
$5.0
Key Takeaways
4Q20 vs 4Q19 APTI results reflect
Favorable impacts from:
◉
Equity markets returns from favorable alternatives, mainly higher private
equity returns
Lower interest rates and tighter credit spreads
■ Lower GOE
Unfavorable impacts from:
"
Mortality, driven by COVID-19
Lower reinvestment rates
Other Key Metrics
Unfavorable impacts from:
"
New business sales impact on APTI
Key Takeaways
4Q20 vs 4Q19 APTI results reflect
Favorable impacts from:
"
Equity markets returns from favorable alternatives, mainly higher private
equity returns
Higher base investment income, growth in reserves
Other Key Metrics
Favorable impacts from:
"
Growth in reserves, including 4Q20 GIC issuance
$551
$6-$1
$4
$8.2
$5.9
$450
$369
$94
4Q19
$64
4Q20
Structured Settlements
PRT
$3.2
4Q19
■COLI/BOLI
PPVUL/PPVA
$3.6
4Q20
■SVW
GIC
AIG
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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