AIG 2007 Annual Report Download - page 27

AIG 2007 Annual Report 25
Foreign Life Insurance & Retirement Services
AIG’s Foreign Life Insurance & Retirement
Services operations are conducted principally
through the following market-leading companies:
American International Assurance Company,
Limited (AIA), is AIG’s flagship life insurance
company for Southeast Asia and the leading life
insurer in the region. Its extensive network of
branches, subsidiaries and affiliates spans Australia,
Brunei, China, Guam, Hong Kong, India,
Indonesia, Macau, Malaysia, New Zealand,
Singapore, South Korea, Thailand and Vietnam.
American Life Insurance Company (ALICO)
is among the largest international life insurance
companies in the world, with operations in more
than 50 countries. ALICO’s operations stretch
from Japan to Europe, the Middle East, Latin
America, South Asia and the Caribbean.
AIG Star Life Insurance Co., Ltd., and AIG
Edison Life Insurance Company contribute to
AIG’s growing life insurance presence in Japan
through the sale of life, accident and health,
and retirement services products via agents,
brokers and bank partners.
Nan Shan Life Insurance Company, Ltd., is
Taiwan’s second-largest life insurer in terms of
total premium.
The Philippine American Life and General
Insurance Company (Philamlife) is the largest
and most profitable life insurance company in
the Philippines.
Domestic Life Insurance & Retirement Services
In the United States, AIG’s Domestic Life
Insurance & Retirement Services businesses offer
a comprehensive range of life insurance, annuity,
and accident and health products for financial
planning, estate planning and wealth transfer.
They use a full complement of distribution
channels, including banks, national and regional
brokerage firms, independent financial planning
firms, independent and national marketing
organizations, brokerage general agencies,
independent insurance producers and general
agents, and worksite specialists. The principal
operations include the following:
AIG American General, one of the largest life
insurance organizations in the United States,
distributes a broad range of life insurance, annuity,
and accident and health products.
AIG Annuity Insurance Company is the largest
issuer of fixed annuities in the United States
and the leading provider of annuities sold
through banks.
AIG Retirement (formerly branded as AIG VALIC)
is the nation’s leading provider of group retirement
plans to K-12 educationand the third largest to
healthcareand higher education institutions.
AIG SunAmerica Retirement Markets is one
of the nation’s leading distributors of individual
variable annuities and income solutions.
Revenues by Major Business Segment*
(billions of dollars)
General
Insurance Life Insurance & Retirement
Services
Financial
Services Asset Management
49.2 51.7
(1.3)
5.6
53.6
50.9
7.8 4.5
2006
2007
* Includes net realized capital gains (losses).
The businesses in AIG’s Asset Management
Group leverage AIG’s deep knowledge of markets
around the world and expertise in a wide range
of asset classes.
AIG Investments manages equities, fixed income,
private equity, hedge fund of funds and real
estate investments for institutional, individual
and high-net-worth investors around the world.
AIG Investments ranks among the top seven
money managers in the world by institutional
assets under management.
AIG Private Bank Ltd., AIG’s Zurich-based private
banking subsidiary, provides personalized private
banking and structured wealth management solu-
tions, including investment advisory and asset
management products to a worldwide clientele.
AIG SunAmerica Asset Management Corp. manages
and/or administers retail mutual funds, as well
as the underlying assets in AIG SunAmerica
and AIG Retirement variable annuities sold to
individuals and institutional groups throughout
the United States.
The AIG Advisor Group, Inc., broker-dealers
provide financial products, technology support
and business-building programs to independent
financial advisors serving the retirement
planning needs of clients in the United States.
Life Insurance & Retirement Services
Serving millions of customers around the world, AIG’s growing global Life Insurance busi-
nesses make up the most extensive network of any life insurer. Strategies for enhancing
growth focus on developing new markets, expanding distribution channels and broadening
product offerings. AIG has one of the premier Retirement Services businesses in the
United States and it also has an extensive international retirement services network—both
poised to meet the asset accumulation, protection and lifetime income needs of individuals
around the world.
Asset Management
AIG’s Asset Management businesses
include institutional and individual asset
management, broker-dealer services, private
banking and spread-based investment
programs, as well as the management of
AIG insurance invested assets.