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Consolidated Loss Reserve Development Excluding Asbestos and Environmental Reserve

Development

The following table presents for each calendar year the loss reserves and the development thereof excluding those

with respect to asbestos and environmental claims for each calendar year.(a)

(in millions) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Net Reserves Held(b) $ 25,286 $ 28,651 $ 35,559 $ 45,742 $55,226 $60,451 $67,597 $71,062 $66,588 $69,157 $70,169

Discount (in Reserves

Held) 1,423 1,499 1,516 1,553 2,110 2,264 2,429 2,574 2,655 3,055 3,095

Net Reserves Held

(Undiscounted) 26,709 30,150 37,075 47,295 57,336 62,715 70,026 73,636 69,243 72,212 73,264

Undiscounted Liability as

of:

One year later 30,274 32,129 39,261 51,048 57,077 62,043 70,096 76,251 71,925 72,200

Two years later 32,438 35,803 46,865 52,364 57,653 62,521 72,423 78,994 71,510

Three years later 36,043 43,467 48,691 53,385 58,721 64,904 74,880 78,464

Four years later 42,348 45,510 50,140 54,908 61,195 66,833 74,643

Five years later 44,018 46,925 51,997 57,365 62,924 66,768

Six years later 45,201 48,584 54,272 58,981 63,131

Seven years later 46,685 50,786 55,753 59,350

Eight years later 48,761 52,199 56,138

Nine years later 50,077 52,570

Ten years later 50,454

Net Redundancy/

(Deficiency) (23,745) (22,420) (19,063) (12,055) (5,795) (4,053) (4,617) (4,828) (2,267) 12

Paid (Cumulative) as of:

One year later 10,861 10,632 11,999 14,718 15,047 14,356 16,183 24,028 15,618 15,686

Two years later 17,801 18,283 21,419 23,906 24,367 23,535 31,204 35,613 26,154

Three years later 23,430 25,021 28,129 30,320 31,163 33,555 39,503 44,333

Four years later 28,080 29,987 32,686 35,481 39,009 39,044 45,650

Five years later 31,771 33,353 36,601 41,600 42,791 43,098

Six years later 34,238 36,159 41,198 44,456 45,897

Seven years later 36,353 39,637 43,178 46,616

Eight years later 39,055 41,163 44,856

Nine years later 40,299 42,502

Ten years later 41,362

Remaining Reserves

(Undiscounted) 9,092 10,068 11,282 12,734 17,234 23,670 28,993 34,131 45,356 56,514

Remaining Discount 644 788 911 1,020 1,159 1,344 1,610 1,924 2,302 2,753

Remaining Reserves $ 8,448 $ 9,280 $ 10,371 $ 11,714 $16,075 $22,326 $27,383 $32,207 $43,054 $53,761

AIG 2011 Form 10-K 17