AIG 2015 Annual Report Download - page 82

ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE
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Property Casualty Net Premiums Written
The following table presents Property Casualty’s net premiums written by major line of business:
Years Ended December 31,
Percentage Change in Percentage Change in
U.S. dollars Original Currency
(in millions) 2015
2014 2013 2015 vs. 2014 2014 vs. 2013 2015 vs. 2014 2014 vs. 2013
Casualty $ 6,957 $ 7,649 $8,154 (9)%(6) %
(6)%(6)%
Property 5,160 5,136 4,718 - 9 6 10
Specialty 3,653 3,714 3,737 (2) (1)
3 -
Financial lines 4,666 4,521 4,271 3 6 9 6
Total Property Casualty net
premiums written $ 20,436 $ 21,020 $20,880 (3)% 1 %
2 % 1 %
PROPERTY CASUALTY NET PREMIUMS WRITTEN BY LINE OF BUSINESS
(in millions)
2015 and 2014 Comparison
Property Casualty net premiums written decreased in 2015 compared to 2014, primarily due to strengthening of the U.S. dollar
against the Major Currencies. Excluding the effect of foreign exchange, net premiums written increased in 2015 from 2014,
primarily due to new business growth across all regions in all lines except for U.S. Casualty. Additionally, the increase in net
premiums written in U.S. Financial lines reflected higher renewal in certain targeted growth products. The following paragraphs
discuss the changes within our lines of business exclusive of the effect of foreign exchange.
Casualty net premiums written decreased in 2015 compared to 2014, reflecting continued execution of our strategy to
enhance the portfolio mix, particularly in the U.S., and rate pressure. Additionally, net premiums written included return
premiums related to the loss sensitive businesses of $49 million for 2015 compared to additional premiums of $105 million in
2014. An increase in new business in targeted growth products in 2015, particularly in EMEA, was more than offset by the
declines in the U.S.