AIG 2005 Annual Report Download - page 48

46 Five Year Summary of Selected Financial Information
Five Year Summary
of Selected Financial Information
Compound
Annual
(in millions, except per share amounts and ratios) Growth Rate
Years Ended /As of December 31, 2005 2004 2003 2002 2001 2001–2005
Balance Sheet Data:
Total cash and invested assets(a) $ 691,767 $ 649,825 $ 528,550 $ 435,454 $ 364,918 17.3%
Total assets 853,370 801,145 675,602 561,598 490,614 14.8
Total reserves(b) 167,369 153,036 129,944 102,166 91,217 16.4
Total General Insurance reserves 57,476 47,254 36,228 29,347 26,005 21.9
Total liabilities 766,867 721,273 606,180 501,163 438,551 15.0
Total shareholders’ equity 86,317 79,673 69,230 58,303 49,881 14.7
Income Statement Data:
Revenues(c) $108,905 $ 97,666 $ 79,421 $ 66,171 $ 59,958 16.1%
Loss ratio 81.09 78.78 73.06 83.12 79.33
Expense ratio 23.60 21.52 19.62 21.81 24.27
Combined ratio(d) 104.69 100.30 92.68 104.93 103.60
Return on Equity (ROE):(e)
ROE, GAAP basis 12.34% 13.27% 12.54% 10.59% 8.59%
Per Common Share Data:
Net income(f)
Basic $ 4.03 $ 3.77 $ 3.10 $ 2.20 $ 1.56 26.8%
Diluted 3.99 3.73 3.07 2.17 1.54 26.9
Dividends(g) .63 .29 .24 .18 .16 40.9
Book value 33.24 30.69 26.54 22.34 19.07 14.9
Market price 68.23 65.67 66.28 57.85 79.40 (3.7)
Market capitalization at December 31,(h) $177,169 $ 170,507 $ 172,888 $ 150,965 $ 207,665 (3.9)%
(a) Refer to the table on page 43 of this report for the composition of total cash and invested assets.
(b) Including net General Insurance reserves for losses and loss expenses, Life Insurance & Retirement Services future policy benefits, and policy and contract
claims.
(c) Represents the sum of General Insurance net premiums earned, Life Insurance & Retirement Services GAAP premiums, net investment income, Financial
Services interest, lease and finance charges, Asset Management advisory fees and management fees, and net investment income from guaranteed investment
contracts, and realized capital gains (losses).
(d) Excluding catastrophe losses, 2005 and 2002 reserve charges, 2004 change in estimate for asbestos and environmental exposures, and 2001 WTC losses,
the combined ratios were 93.19, 95.35, 92.41, 95.77 and 98.95 for 2005, 2004, 2003, 2002 and 2001, respectively.
(e) Return on equity (ROE) is net income, expressed as a percentage of average shareholders’ equity.
(f) See Note 1(dd) of Notes to Financial Statements.
(g) Dividends have not been restated to reflect dividends paid by American General Corporation, which was acquired by AIG on August 29, 2001.
(h)Market capitalization is based on the number of AIG shares outstanding multiplied by the closing price per share at December 31 on the New York Stock
Exchange.