AIG 2011 Annual Report Download - page 22

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implement corrective actions on underperforming businesses. Management continues to review its underlying
businesses to ensure that they meet overall performance measures. Chartis will also continue to implement cost
savings initiatives.
Chartis maintains a significant international presence in both developed markets and growth economy nations
(primarily in Asia Pacific, the Middle East and Latin America). Based on net premiums written in 2010, Chartis is
the largest U.S. commercial insurer and the largest U.S.-based insurer in Europe, Japan and China. In addition,
Chartis was first to market in many developing nations and is well positioned to enhance its businesses in
countries such as China, India and Brazil.
The following chart presents Chartis Net premiums written (in millions) by region:
U.S. & Canada
Europe
Far East
Growth Economies
$3,178
9%
$17,443
50%
$5,960
17%
$8,259
24%
In 2011, 6 percent and 5 percent of Chartis direct premiums written (gross premiums less return premiums and
cancellations, excluding reinsurance assumed and before deducting reinsurance ceded) were in the states of
California and New York, respectively, and 18 percent and 7 percent in Japan and the United Kingdom,
respectively. No other state or foreign jurisdiction accounted for more than five percent of such premiums.
In January 2012, Chartis further aligned its regions into the following geographic areas:
•Americas: Includes the United States and Canada, as well as Central America, South America, the
Caribbean and Bermuda.
•Asia Pacific: Includes Japan and other Asia Pacific nations, including China, Thailand, Vietnam, Australia
and Indonesia.
•EMEA (Europe, Middle East and Africa): Includes the United Kingdom, Continental Europe, Eastern
Europe, Russia, the Middle East and Africa.
Chartis distributes its products and services through a variety of distribution channels. Commercial Insurance is
generally distributed through global, regional and local brokers, agents and wholesalers. Consumer Insurance is
generally distributed through insurance brokers, agents, direct to the consumer, and affinity groups. Direct to
consumer is a growing distribution channel for Chartis in many locations outside of the United States.
8 AIG 2011 Form 10-K
CHARTIS REGIONS
CHARTIS DISTRIBUTION CHANNELS