AIG 2012 Annual Report Download - page 26

15FEB201317022769
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Life and Retirement made an equity investment of approximately $0.5 billion in PICC Group. AIG’s participation in the
Joint Venture will be managed by AIG Property Casualty.
Total Net Premiums Written $34.4 bn
Based on net premiums written in 2011, AIG Property Casualty is the largest U.S. commercial insurer in the U.S.
and Canada, the largest U.S. based property casualty insurer in Europe, and the largest foreign property casualty
insurer in Japan and China. In addition, AIG Property Casualty was first to market in many developing nations and
is well positioned to enhance its businesses in countries such as China, India and Brazil.
Americas
U.S./Canada
Bermuda
Latin America and the Caribbean
$17.6 bn
51% Asia Pacific
Japan
Other Asia Pacific nations
$10.4 bn
30%
EMEA
Europe
Middle East
Africa
$6.4 bn
19%
Competition
Operating in a highly competitive industry, AIG Property Casualty competes against approximately 3,300 stock
companies, specialty insurance organizations, mutual companies and other underwriting organizations. In
international markets, we compete for business with the foreign insurance operations of large U.S. insurers global
insurance groups and local companies in specific market areas and product types.
Insurance companies compete through a combination of risk acceptance criteria, product pricing, service and terms
and conditions. AIG Property Casualty distinguishes itself in the insurance industry primarily based on its
well-established brand, financial strength and large capital base, innovative products, expertise in providing
specialized coverages and customer service.
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AIG 2012 Form 10-K 9
ITEM 1 / BUSINESS / AIG PROPERTY CASUALTY