General Insurance Financial Overview
Non-GAAP Reconciliations-
Accident Year Loss Ratio,
as adjusted, and Accident
Year Combined Ratio, as
adjusted
General Insurance - International
Loss ratio
Catastrophe losses and reinstatement premiums
Prior year development, net of reinsurance and prior year
premiums
Accident year loss ratio, as adjusted
Acquisition ratio
General operating expense ratio
Expense ratio
Twelve Months Ended
Quarterly
December 31,
General Insurance - International-
Commercial Lines
Quarterly
Twelve Months
Ended
December 31,
4Q20 4Q21
2020
2021
4Q20 4Q21
2020
2021
55.9
54.5
60.5
56.6
Loss ratio
58.8
(2.1)
(0.6)
(5.3)
(2.3)
0.2
0.4
(0.7)
0.1
Catastrophe losses and reinstatement premiums
Prior year development, net of reinsurance and
prior year premiums
57.6
(4.0) (1.1)
66.8
61.6
(8.5) (3.1)
1.1 (0.3)
(1.8)
(3.0)
54.0
54.3
54.5
54.4
Accident year loss ratio, as adjusted
55.9 56.2
56.5
55.5
23.0
22.3
23.2
22.2
Acquisition ratio
19.4 18.0
19.8
18.7
14.7
13.3
14.2
13.3
General operating expense ratio
13.9 12.5
13.8
12.5
37.7
35.6
37.4
35.5
Expense ratio
33.3 30.5
33.6
31.2
Combined ratio
93.6
90.1
97.9
92.1
Combined ratio
91.7
89.9
91.9
89.9
Accident year combined ratio, as adjusted
Accident year combined ratio, as adjusted
89.2
92.1 88.1
86.7
100.4
90.1
92.8
86.7
AIG Copyright ® 2022 by American International Group, Inc. All rights reserved.
No part of this document may be reproduced, republished or reposted
without the permission of AIG.
Twelve Months
General Insurance - International-
Ended
General Insurance - Global
Twelve Months
Ended
Personal Insurance
Quarterly
December 31,
Commercial Lines
Quarterly
December 31,
4Q20
4Q21
2020
2021
4Q20 4Q21
2020
2021
Loss ratio
52.7
50.6
53.7
50.4
Loss ratio
76.0 65.8
77.1
71.4
Catastrophe losses and reinstatement premiums
(1.8)
(1.1)
Prior year development, net of reinsurance and prior year
premiums
(0.9)
1.1
0.4
3.7
Catastrophe losses and reinstatement premiums
Prior year development, net of reinsurance and
prior year premiums
(11.6)
(3.7)
(13.1)
(6.8)
(0.3)
(0.2)
0.5
(2.9)
Accident year loss ratio, as adjusted
51.8
51.7
52.3
53.0
Accident year loss ratio, as adjusted
64.1 61.9
64.5
61.7
Acquisition ratio
26.9
27.9
26.8
26.5
Acquisition ratio
16.4
16.0
16.8
16.8
General operating expense ratio
15.4
14.5
14.8
14.3
General operating expense ratio
11.2 10.0
11.9
10.6
Expense ratio
42.3
42.4
41.6
40.8
Expense ratio
27.6 26.0
28.7
27.4
Combined ratio
103.6 91.8
105.8
98.8
Combined ratio
95.0
93.0
95.3
91.2
Accident year combined ratio, as adjusted
94.1
94.1
93.9
93.8
Accident year combined ratio, as adjusted
91.7 87.9
93.2
89.1
37View entire presentation