AIG Earnings and Investment Portfolio Report
Other Operations: APTL increased principally due to the sale of Fortitude in
2Q20, lower NII associated with available for sale securities (excluding Fortitude),
the impact of consolidated investment entities on consolidation and eliminations,
as well as higher interest expense from May 2020 bond issuance
($M)
Corporate and Other
Asset Management
FY'19
($1,378)
FY'20
($2,041)
66
78
Adjusted pre-tax loss before consolidation and eliminations
($1,312)
($1,963)
Consolidation and eliminations:
Consolidation and eliminations - Consolidated investment entities
Consolidation and eliminations - Other
(327)
(457)
23
(9)
Total Consolidation and eliminations
(304)
(466)
Adjusted pre-tax loss
($1,616)
($2,429)
AIG
Key Takeaways:
■ Other Operations APTL was $2.4B, including $0.5B of reductions from consolidation and eliminations,
compared to $1.6B, including $0.3B of reductions from consolidation and eliminations, in the prior year
quarter. The increase in consolidation and eliminations reflects the impact of consolidated investment
entities
■ Before consolidation and eliminations, the increase in APTL was primarily due to the sale of Fortitude in
2Q20, lower NII associated with available for sale securities (excluding Fortitude), and increased interest
expense related to debt issuances in 2Q20
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