AIG 2011 Annual Report Download - page 25

18FEB201210514805 18FEB201210514929
settlements, terminal funding, corporate-owned life insurance, bank-owned life insurance and group benefits.
American General distributes its products through AGLA, Matrix Direct and various independent marketing
organizations, independent and career insurance agents, structured settlement brokers, benefit consultants and
direct-to-consumer platforms.
In 2012, American General and Chartis combined their U.S. group benefits businesses under the name AIG
Benefit Solutions. This business will continue to market a wide range of insurance and benefits products for
employees, employers and affinity groups. In the near term, results of operations for the respective businesses will
continue to be reported separately as part of American General and Chartis.
SunAmerica’s Domestic Retirement Services operations consist of five business units:
VALIC is a leading provider of defined contribution retirement savings plans sponsored by education,
not-for-profit and government organizations. Primary products include fixed and variable group annuities, and
group mutual funds. VALIC also offers group administrative and compliance services, and individual annuity and
mutual fund products. VALIC utilizes career and independent financial advisors to provide enrollment support
and comprehensive financial planning services.
Western National is a leading provider of fixed deferred annuities to bank customers. Primary products include
single and flexible premium deferred fixed annuities. Western National maintains its leading industry position in
bank distribution through its collaborative product design process and efficient and flexible administration
platform.
SARM is a leading provider of deferred variable annuities, which provide comprehensive retirement income
solutions. Variable annuities provide market participation through a diverse menu of equity and fixed income
portfolios, guaranteed death benefits and a suite of guaranteed retirement income solutions. SARM distributes
products through banks and national, regional and independent broker-dealer firms.
Brokerage Services and Retail Mutual Funds includes the operations of SunAmerica Asset Management, which
provides retail mutual funds and administration services for variable annuity funds sponsored by VALIC and
SARM, and Advisor Group, which is one of the largest networks of independent financial advisors in the U.S.
Domestic Retirement Services also includes the operations of SunAmerica Affordable Housing Partners, runoff
GICs and certain individual annuity portfolios.
The following charts present SunAmerica premiums and premiums, deposits and other considerations by line of
business:
Premiums Premiums, Deposits and Other Considerations
Life insurance
Payout annuities
80%
20%
15%
31%
13%
3% 30%
8%
Life insurance
Payout annuities
Individual fixed annuities
Group retirement products
Individual variable
annuities
Brokerage services and
retail mutual funds
Premiums represent premiums received on traditional life insurance policies and deposits on life contingent
payout annuities. Premiums, deposits and other considerations is a non-GAAP measure which includes life
insurance premiums as well as deposits on annuity contracts and mutual funds, but excludes policy fees.
AIG 2011 Form 10-K 11
DOMESTIC RETIREMENT SERVICES