General Insurance Financial Overview
AIG 200: Continued execution
of global, multi-year initiative
to achieve transformational
change
■ Estimated run-rate net general operating expense
exit savings of $1B by end of 2022
■ Achieved run-rate savings of $810M since program
began in 2020
1) Targets assume estimated amortization / depreciation related to the
capitalized assets of ~$10M-$15M and ~$25M-$30M for 2021 and 2022,
respectively. Targets assume that the unamortized balance will be
expensed at ~$50M per year from 2023-2027 and the remainder will trail off
in the periods thereafter.
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1
General
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Insurance
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Shared
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Services
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Information
Technology
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Finance
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The Standard Commercial Underwriting Platform will modernize global underwriting capabilities by
simplifying processes and tools to create a contemporary data architecture
Transform Japan business into a next-generation digital insurance company with the ability to offer
"anywhere, anytime, any device" experience
Improve decision-making in Private Client Group through modernizing legacy technology and moving
to digitized workloads
Create AIG Global Operations, a multifunctional, fully integrated operating model with digitally enabled
end-to-end process and increased scope and scale
Transform IT operating model
Build a modern, scalable and secure technology foundation to improve operational stability and
enable faster business technology deployment
Transform Finance operating model
Modernize infrastructure through technology solutions and simplify finance and actuarial processes,
while materially improving analytics capabilities
Procurement
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Create a highly efficient global procurement and sourcing organization to leverage our purchasing
power, maximize value, minimize risk, and support sustained profitable growth
Real Estate
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Optimize portfolio to ensure it is cost effective, resilient and reflective of global footprint
AIG 200 Costs to Achieve and General Operating Expense (GOE) Benefits
($M)
2020-
4Q21
Actual
2021
Actual 2022E
Total
Comments
Investment / Costs to Achieve
Capitalized assets, not in APTI initially
~$225
~$145 $175
$400
Restructuring and Other charges,
offset by Gain on Sale, in Net Income
~$420 ~$270
$480
$900
Total investment
~$645 ~$415
$655
$1,300
Run-rate net GOE savings, cumulative¹
~$810
~$420
$190
Net benefit to APTI
~$540
~$405
Amortized/depreciated in GOE / APTI when IT or capital
asset placed into service¹
Modest impact to APTI; primarily related to professional,
IT and other restructuring fees, offset by gain on sale on
divested entities
Estimated exit run-rate savings will emerge over a period
of time, which began in 2020, as a result of actions taken
in the AIG 200 program
Estimated APTI benefit as a result of actions taken in the
AIG 200 program
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