AIG 2015 Annual Report Download - page 108

ITEM 7 / RESULTS OF OPERATIONS / CONSUMER INSURANCE
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EMEA net premiums written increased in 2015 compared to 2014, primarily in automobile and in warranty service programs,
partially offset by decreases in Accident and Health.
2014 and 2013 Comparison
Americas net premiums written increased in 2014 compared to 2013, primarily due to an increase in all product lines in our
Latin America operations and growth in U.S. personal property and automobile businesses. These were partially offset by a
decrease in U.S. Accident and Health due to our continued focus on maintaining underwriting discipline.
Asia Pacific net premiums written increased in 2014 compared to 2013, primarily due to production increases in Japan
Accident and Health and in property and automobile business outside of Japan.
EMEA net premiums written increased in 2014 compared to 2013, due to growth in the automobile business and warranty
service programs, partially offset by a decrease in the Accident and Health business.
Personal Insurance Underwriting Ratios
The following tables present the Personal Insurance combined ratios based on GAAP data and reconciliation to the
accident year combined ratio, as adjusted:
Years Ended December 31, Increase (Decrease)
2015 2014 2013
2015 vs. 2014 2014 vs. 2013
Loss ratio 55.1 54.2 56.8 0.9 (2.6)
Catastrophe losses and reinstatement premiums (1.3) (1.1) (0.7) (0.2) (0.4)
Prior year development net of premium adjustments 0.2 0.7 1.3 (0.5) (0.6)
Accident year loss ratio, as adjusted 54.0 53.8 57.4 0.2 (3.6)
Acquisition ratio 28.3 27.2 26.2 1.1 1.0
General operating expense ratio 17.9 18.5 18.5 (0.6) -
Expense ratio 46.2 45.7 44.7 0.5 1.0
Combined ratio 101.3 99.9 101.5 1.4 (1.6)
Catastrophe losses and reinstatement premiums (1.3) (1.1) (0.7) (0.2) (0.4)
Prior year development net of premium adjustments 0.2 0.7 1.3 (0.5) (0.6)
Accident year combined ratio, as adjusted 100.2 99.5 102.1 0.7 (2.6)