AIG 2009 Annual Report Download - page 175

American International Group, Inc., and Subsidiaries
AIGFP Trading Investments
The following table presents the fair value of AIGFP’s fixed maturity trading investments:
2009 2008
At December 31,
Fair Percent Fair Percent
(in millions) Value of Total Value of Total
U.S. government and government sponsored entities $ 6,292 33% $ 9,594 37%
Non-U.S. governments 247 1 500 2
Corporate debt 1,342 7 3,530 13
State, territories and political subdivisions 365 2 --
Mortgage-backed, asset-backed and collateralized 11,016 57 12,445 48
Total $19,262 100% $26,069 100%
The following table presents the credit ratings of AIGFP’s fixed maturity trading investments:
At December 31, 2009 2008
Rating:
AAA 64% 74%
AA 13 10
A12 11
BBB 33
Below investment grade 82
Total 100% 100%
The following table presents the fair value of AIGFP’s trading investments in RMBS, CMBS, CDO/ABS and
other collateralized securities:
2009 2008
At December 31,
Fair Percent Fair Percent
(in millions) Value of Total Value of Total
RMBS $ 2,806 26% $ 3,679 30%
CMBS 2,219 20 2,020 16
CDO/ABS and other collateralized 5,991 54 6,746 54
Total $11,016 100% $12,445 100%
Other-Than-Temporary Impairments
As a result of AIG’s periodic evaluation of its securities for other-than-temporary impairments in value, AIG
recorded impairment charges in earnings of $7.8 billion, $48.6 billion and $4.6 billion (including $643 million related
to AIGFP recorded in other income) in 2009, 2008, and 2007 respectively. Refer to Note 6 to the Consolidated
Financial Statements for a discussion of AIG’s other-than-temporary impairment accounting policy.
167 AIG 2009 Form 10-K