General Insurance Financial Overview
Life and Retirement: Life
Insurance had favorable
impact from annual actuarial
assumption update, partially
offset by unfavorable
mortality; strong reserve
growth for Institutional
Markets
New Business Sales ($M) Premiums and Deposits ($M)
$453
n.m.
Life Insurance
APTI ($M)
$4,650
(+5% vs. FY'20)
$106
(-25% vs. FY'20)
☐
41%
New Business Sales Mix
FY'20
.
59%
44%
FY'21
56%
FY'21 vs FY'20 APTI reflects
Favorable impacts from:
■ Year-over-year change for annual actuarial
assumption updates
Higher alternative investments income
Unfavorable impacts from:
■ Adverse mortality
Other Key Metrics
Favorable impacts from:
Premiums and deposits continue to benefit from
solid international life sales
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Domestic (U.S.)
■International
Institutional Markets
APTI ($M)
$582 (+33% vs. FY'20)
FY'21 vs FY'20 APTI reflects
Premiums and Deposits ($M)
GAAP Reserves ($B)
Higher alternative investments income
$4,948
$30.2
◉
$27.3
$4,846
$1,000
$7.5
$76
$1
$8.1
$2.7
$2,124
$0.1
$2.2
$5.1
$2
$5.1
$71
$3,658
Favorable impacts from:
Higher base net investment income driven by
reserve growth
Other Key Metrics
Favorable impacts from:
■ Continued year-over-year reserve growth, notably in
PRT business
$11.5
$2,320
$8.2
$329
$214
$3.6
$3.5
FY'20
FY'21
-$1
FY'20
FY'21
■ SS
■ PRT ■COLI/BOLI
■ HNW
- SVW
GIC
Definitions: SS = Structured Settlements | PRT = Pension Risk Transfer | COLI/BOLI = Corporate and Bank-owned Life Insurance | HNW = High Net
Worth | SVW Stable Value Wrap | GIC = Guaranteed Investment Contracts
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