AIG 2011 Annual Report Download - page 121

SunAmerica Results
The following table presents SunAmerica results:
Percentage Change
Years Ended December 31,
(in millions) 2011 2010 2009 2011 vs. 2010 2010 vs. 2009
Domestic Life Insurance:
Revenue:
Premiums $ 2,513 $ 2,520 $ 2,671 -% (6)%
Policy fees 1,478 1,576 1,581 (6) -
Net investment income 3,925 4,313 3,819 (9) 13
Other income 3- - NM NM
Operating expenses:
Policyholder benefits and claims incurred 4,510 4,277 4,161 5 3
Interest credited to policyholder account balances 851 843 866 1 (3)
Amortization of deferred acquisition costs 534 784 716 (32) 9
Other acquisition and insurance expenses 954 991 1,032 (4) (4)
Operating income 1,070 1,514 1,296 (29) 17
Net realized capital gains (losses) 363 (75) (712) NM 89
Benefit (amortization) of DAC, VOBA and SIA related to
net realized capital gains (losses) (29) (45) 35 36 NM
Pre-tax income $ 1,404 $ 1,394 $ 619 1% 125%
Domestic Retirement Services:
Revenue:
Policy fees $ 1,227 $ 1,134 $ 1,075 8% 5%
Net investment income 5,957 6,455 5,734 (8) 13
Other income 206 - - NM NM
Operating expenses:
Policyholder benefits and claims incurred 104 (1) 227 NM NM
Interest credited to policyholder account balances 3,595 3,637 3,838 (1) (5)
Amortization of deferred acquisition costs 694 491 952 41 (48)
Other acquisition and insurance expenses 806 928 780 (13) 19
Operating income 2,191 2,534 1,012 (14) 150
Net realized capital losses (357) (1,176) (2,802) 70 58
Benefit (amortization) of DAC, VOBA and SIA related to
net realized capital losses (328) (40) 73 NM NM
Goodwill impairment charges -- (81) NM NM
Pre-tax income (loss) $ 1,506 $ 1,318 $ (1,798) 14% NM%
Total SunAmerica:
Revenue:
Premiums $ 2,513 $ 2,520 $ 2,671 -% (6)%
Policy fees 2,705 2,710 2,656 - 2
Net investment income 9,882 10,768 9,553 (8) 13
Other income 209 - - NM NM
Operating expenses:
Policyholder benefits and claims incurred 4,614 4,276 4,388 8 (3)
Interest credited to policyholder account balances 4,446 4,480 4,704 (1) (5)
Amortization of deferred acquisition costs 1,228 1,275 1,668 (4) (24)
Other acquisition and insurance expenses 1,760 1,919 1,812 (8) 6
Operating income 3,261 4,048 2,308 (19) 75
Net realized capital gains (losses) 6(1,251) (3,514) NM 64
Benefit (amortization) of DAC, VOBA and SIA related to
net realized capital gains (losses) (357) (85) 108 (320) NM
Goodwill impairment charges -- (81) NM NM
Pre-tax income (loss) $ 2,910 $ 2,712 $ (1,179) 7% NM%
AIG 2011 Form 10-K 107