AIG 2010 Annual Report Download - page 129

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American International Group, Inc., and Subsidiaries
improved sales from individual rollovers. Individual fixed annuity deposits decreased primarily due to the low
interest rate environment in 2010. Variable annuity sales increased due to competitive product enhancements,
reinstatements at a number of key broker-dealers, and increased wholesaler productivity. Payout annuity sales
increased in 2010 compared to 2009 as a result of improved structured settlement and immediate annuity sales.
2009 and 2008 Comparison
Total sales and deposits decreased in 2009 compared to 2008. Deposits were negatively affected in 2009 by lower
AIG ratings and the lingering effects of negative AIG publicity. Life insurance sales and deposits decreased
significantly in 2009 compared to 2008 primarily due to lower financial strength ratings, the lingering effects of
negative AIG publicity and the sale of AIG Life Canada. For individual variable annuities, the decrease in 2009
compared to 2008 is also attributable to a general decline in industry sales volumes. Individual fixed and variable
annuity sales have decreased due to the temporary suspension of product sales at certain selling organizations due
to the effect of negative publicity relating to AIG. However, deposits for individual fixed annuities increased in the
second half of 2009 primarily due to increased demand for guaranteed products as well as reinstatement of sales
at certain financial institutions that had previously suspended sales. Payout annuities sales decreased primarily due
to lower financial strength ratings and the lingering effects of negative AIG publicity.
AIG 2010 Form 10-K 113