AIG Earnings and Investment Portfolio Report
4Q19 and 4Q20 noteworthy items
($M, except per share amounts)
CATS excluding General Insurance COVID-19 CATS
General Insurance COVID-19 CATS
Favorable/(unfavorable) PYD
4Q19 - Income / (Loss)
Pre-tax After-tax¹
4Q20 - Income / (Loss)
EPS
Pre-tax After-tax¹
diluted²
EPS-
diluted²
($413)
($326)
($0.36)
($377) ($298) ($0.34)
(178)
(141)
(0.16)
153
121
0.13
(49)
(39)
(0.04)
Investment performance:
Better than expected alternative investment returns³,4
59
47
0.05
613
484
0.56
Better than expected fair value changes on fixed maturity
securities other accounted under FVO3
29
23
0.03
41
32
0.04
Total noteworthy items - APTI basis
($172)
($136)
($0.15)
$50
$40
$0.05
1) Computed using a U.S. statutory tax rate of 21%.
2) Computed using weighted average diluted shares on an operating basis, which is provided on page 6 of the 4Q20 Financial Supplement.
3) The annualized expected rate of return for 4Q19 and 4Q20 is 8% and 6% for alternative investments and 6% and 4% for FVO fixed maturity securities, respectively.
AIG 4) Alternative investment returns reflect General Insurance and Life and Retirement alternative investment income only and exclude Other Operations, which includes the
impact of consolidation and eliminations. On an AIG consolidated basis, better than expected alternative investment returns were $37M, pre-tax, in 4Q19 and $491M, pre-tax, 9
in 4Q20.View entire presentation