AIG 2009 Annual Report Download - page 80

American International Group, Inc., and Subsidiaries
Segment Results
The following table summarizes the operations of each reportable segment. (See also Note 4 to Consolidated Financial
Statements.)
Percentage Increase/
(Decrease)
Years Ended December 31,
(in millions) 2009 2008 2007 2009 vs. 2008 2008 vs. 2007
Total revenues :
General Insurance $ 35,039 $ 34,731 $ 41,162 1% (16)%
Domestic Life Insurance & Retirement Services 11,366 (19,634) 18,189 - -
Foreign Life Insurance & Retirement Services 32,937 16,659 31,795 98 (48)
Financial Services 9,576 (31,095) (1,309) - -
Other 9,163 8,449 14,170 8 (40)
Consolidation and eliminations (2,077) (2,214) (375) - -
Total 96,004 6,896 103,632 - (93)
Net realized capital gains (losses) :
General Insurance (530) (4,374) (242) - -
Domestic Life Insurance & Retirement Services (3,514) (36,412) (2,735) - -
Foreign Life Insurance & Retirement Services (1,339) (8,208) (125) - -
Financial Services 55 (498) (100) - -
Other (1,526) (3,213) (299) - -
Total (6,854) (52,705) (3,501) - -
Pre-tax income (loss) :
General Insurance 169 (2,451) 10,175 - -
Domestic Life Insurance & Retirement Services (1,179) (34,948) 3,070 - -
Foreign Life Insurance & Retirement Services 3,221 (3,332) 5,352 - -
Financial Services 517 (40,821) (9,515) - -
Other (15,769) (23,672) (1,699) - -
Consolidation and eliminations (607) (1,304) 751 - -
Total $(13,648) $(106,528) $ 8,134 -% -%
General Insurance Operations
AIG’s General Insurance subsidiaries are multiple line companies writing substantially all lines of property and
casualty insurance both domestically and abroad.
As previously noted, AIG believes it should present and discuss its financial information in a manner most
meaningful to its financial statement users. Accordingly, in its General Insurance business, AIG uses underwriting
profit (loss) to assess performance of the General Insurance business rather than statutory underwriting profit (loss).
In order to better align financial reporting with the manner in which AIG’s chief operating decision makers review
the businesses to make decisions about resources to be allocated and to assess performance, beginning in 2009, the
results for Transatlantic, 21st Century, and Mortgage Guaranty, previously reported as part of the General Insurance
operating segment, are now included in AIG’s Other operations category. In addition, the historical results of HSB
(which was sold on March 31, 2009), which were previously included in Commercial Insurance, are also now included
in AIG’s Other operations category. Additionally, beginning in 2009 General Insurance results include the equity
income (loss) from certain equity method investments which were previously included as part of AIG’s Other
operations category. Prior period amounts have been revised to conform to the current presentation.
AIG 2009 Form 10-K 72