AIG 2006 Annual Report Download - page 53

American International Group, Inc. and Subsidiaries
Part I
Item 1.
Business
Financial Services
American International Group, Inc. (AIG), a Delaware corporation, is
a holding company which, through its subsidiaries, is engaged in a International Lease Finance Corporation (ILFC)
broad range of insurance and insurance-related activities in the AIG Financial Products Corp. and AIG Trading Group Inc. and
United States and abroad. AIG’s primary activities include both their respective subsidiaries (collectively, AIGFP)
General Insurance and Life Insurance & Retirement Services American General Finance, Inc. (AGF)
operations. Other significant activities include Financial Services AIG Consumer Finance Group, Inc. (AIGCFG)
and Asset Management. The principal business units in each of Imperial A.I. Credit Companies
AIG’s segments are as follows*:
Asset Management
General Insurance AIG SunAmerica Asset Management Corp. (SAAMCo)
American Home Assurance Company (American Home)
AIG Global Asset Management Holdings Corp. and its
National Union Fire Insurance Company of Pittsburgh, Pa. subsidiaries and affiliated companies (collectively, AIGGIG)
(National Union)
New Hampshire Insurance Company (New Hampshire)
Lexington Insurance Company (Lexington) At December 31, 2006, AIG and its subsidiaries had
The Hartford Steam Boiler Inspection and Insurance Com- approximately 106,000 employees.
pany (HSB) AIG’s Internet address for its corporate website is
Transatlantic Reinsurance Company www.aigcorporate.com. AIG makes available free of charge, through
United Guaranty Residential Insurance Company the Investor Information section of AIG’s corporate website, Annual
American International Underwriters Overseas, Ltd. (AIUO) Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and Proxy Statements on Schedule 14A and
Life Insurance & Retirement Services amendments to those reports or statements filed or furnished
Domestic: pursuant to Section 13(a), 14(a) or 15(d) of the Securities
American General Life Insurance Company (AIG American Exchange Act of 1934 (the Exchange Act) as soon as reasonably
General) practicable after such materials are electronically filed with, or
American General Life and Accident Insurance Company furnished to, the Securities and Exchange Commission (SEC). AIG
(AGLA) also makes available on its corporate website copies of the
The United States Life Insurance Company in the City of New charters for its Audit, Nominating and Corporate Governance and
York (USLIFE) Compensation Committees, as well as its Corporate Governance
The Variable Annuity Life Insurance Company (VALIC) Guidelines (which include Director Independence Standards), Direc-
tor, Executive Officer and Senior Financial Officer Code of Business
AIG Annuity Insurance Company (AIG Annuity)
Conduct and Ethics, Employee Code of Conduct and Related-Party
SunAmerica Life Insurance Company (SunAmerica Life)
Transactions Approval Policy. Except for the documents specifically
AIG SunAmerica Life Assurance Company incorporated by reference into this Annual Report on Form 10-K,
Foreign: information contained on AIG’s website or that can be accessed
American Life Insurance Company (ALICO) through its website is not incorporated by reference into this
AIG Star Life Insurance Co., Ltd. (AIG Star Life) Annual Report on Form 10-K.
AIG Edison Life Insurance Company (AIG Edison Life) Throughout this Annual Report on Form 10-K, AIG presents its
American International Assurance Company, Limited, together operations in the way it believes will be most meaningful, as well
with American International Assurance Company (Bermuda) as most transparent. Certain of the measurements used by AIG
Limited (AIA) management are ‘‘non-GAAP financial measures’’ under SEC rules
American International Reinsurance Company Limited (AIRCO) and regulations. Statutory underwriting profit (loss) and combined
Nan Shan Life Insurance Company, Ltd. (Nan Shan) ratios are determined in accordance with accounting principles
The Philippine American Life and General Insurance Company prescribed by insurance regulatory authorities. For an explanation
(Philamlife) of why AIG management considers these ‘‘non-GAAP measures’’
useful to investors, see Management’s Discussion and Analysis of
Financial Condition and Results of Operations.
*For information on AIG’s business segments, see Note 2 of Notes
to Consolidated Financial Statements.
Form 10-K 2006 AIG 3