AIG 2010 Annual Report Download - page 85

American International Group, Inc., and Subsidiaries
Results of Operations
AIG reports the results of its operations through three reportable segments: Chartis (formerly General
Insurance), SunAmerica (formerly Domestic Life Insurance & Retirement Services), and Financial Services.
Through these reportable segments, AIG provides insurance, financial and investment products and services to
both businesses and individuals in more than 130 countries. AIG’s subsidiaries serve commercial, institutional and
individual customers through an extensive property-casualty and life insurance and retirement services network.
AIG’s Financial Services businesses include commercial aircraft and equipment leasing and the wind-down of
Capital Markets operations, both in the United States and abroad. AIG’s Other operations category consists of
businesses and items not allocated to AIG’s reportable segments.
Consolidated Results
The following table presents AIG’s consolidated results of operations:
Percentage Increase/(Decrease)
Years Ended December 31,
(in millions) 2010 2009 2008 2010 vs. 2009 2009 vs. 2008
Revenues:
Premiums and other considerations $ 48,029 $ 51,239 $ 63,137 (6)% (19)%
Net investment income 20,930 18,987 10,453 10 82
Net realized capital losses (279) (5,210) (46,794) - -
Unrealized market valuation gains (losses) on
Capital Markets super senior credit default
swap portfolio 598 1,418 (28,602) (58) -
Other income 8,023 8,918 (5,034) (10) -
Total revenues 77,301 75,352 (6,840) 3 -
Benefits, claims and expenses:
Policyholder benefits and claims incurred 45,874 50,015 51,036 (8) (2)
Policy acquisition and other insurance expenses 15,820 15,864 20,833 - (24)
Interest expense 7,859 14,238 15,713 (45) (9)
Restructuring expenses and related asset
impairment and other expenses 574 1,149 771 (50) 49
Net (gain) loss on sale of divested businesses
and properties (17,767) 1,271 - - -
Other expenses 7,005 7,122 7,836 (2) (9)
Total benefits, claims and expenses 59,365 89,659 96,189 (34) (7)
Income (loss) from continuing operations before
income tax expense (benefit) 17,936 (14,307) (103,029) - -
Income tax expense (benefit) 5,859 (1,489) (9,683) - -
Income (loss) from continuing operations 12,077 (12,818) (93,346) - -
Income (loss) from discontinued operations, net of
income tax expense (benefit) (2,064) 505 (7,041) -
Net income (loss) 10,013 (12,313) (100,387) - -
Less: Net income (loss) attributable to
noncontrolling interests 2,227 (1,364) (1,098) -
Net income (loss) attributable to AIG $ 7,786 $ (10,949) $ (99,289) -% -%
AIG 2010 Form 10-K 69