General Insurance Financial Overview
4Q20 and 4Q21 noteworthy
items
4Q20
4Q21
EPS -
EPS -
($M, except per share amounts)
CATS excluding General Insurance COVID-193
General Insurance COVID-19 CATS
APTI
AATI¹
APTI
AATI¹
Diluted²
diluted²
$377
$298 $0.34
$194
$153
$0.18
178
141
0.16
Reinstatement premiums related to current year catastrophes
(5)
(4)
(0.00)
(2)
(2)
(0.00)
(49)
(39)
(0.04)
42
33
0.04
Favorable (unfavorable) PYD4
Investment performance:
1) Computed using a U.S. statutory tax rate of 21%. Adjusted after-tax income
attributable to AIG common shareholders (AATI) is derived by excluding the
tax-effect of Adjusted pre-tax income (APTI), dividends on preferred stock and
noncontrolling interests.
2) Computed using weighted average diluted shares on an AATI basis, which is
provided on page 7 of the 4Q21 Financial Supplement.
3) 4Q21 includes $189M of CATS, pre-tax in General Insurance and $5M of CATS,
pre-tax in Other Operations primarily related to Blackboard.
4) 4Q21 includes $44M of favorable PYD, pre-tax in General Insurance.
5) The annualized expected rate of return for both 4Q20 and 4Q21 is 6% for
alternative investments and 4% for FVO fixed maturity securities, respectively,
pre-tax.
6) Presented on a consolidated AIG basis, which consists of General Insurance,
Life and Retirement and Other Operations, including consolidation and
eliminations.
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Better than expected alternative investment returns –
consolidated 5,6
Better/(worse) than expected fair value changes on fixed maturity
securities - other accounted under fair value option (FVO)5
491
388
0.45
676
484
0.57
41
32
0.04
(73)
(58)
(0.07)
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