AIG 2014 Annual Report Download - page 128
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ITEM 7 / INVESTMENTS
111
See Enterprise Risk Management herein for a discussion of credit risks associated with Investments.
The following table presents the composite AIG credit ratings of our fixed maturity securities calculated on the basis
of their fair value:
Available for Sale Other Total
December 31, December 31, December 31, December 31, December 31, December 31,
(in millions) 2014 2013 2014 2013 2014 2013
Rating:
Other fixed maturity
securities
AAA $ 15,463 $ 17,437 $ 5,322 $ 5,510 $ 20,785 $ 22,947
AA 36,730 39,478 224 261 36,954 39,739
A 56,693 56,838 242 445 56,935 57,283
BBB 75,607 75,668 250 478 75,857 76,146
Below investment grade 10,651 9,904 303 321 10,954 10,225
Non-rated 1,035 311 - - 1,035 311
Tota l $ 196,179 $ 199,636 $ 6,341 $ 7,015 $ 202,520 $ 206,651
Mortgage-backed, asset-
backed and collateralized
AAA $ 24,783 $ 21,982 $ 2,313 $ 3,120 $ 27,096 $ 25,102
AA 4,078 3,404 1,549 2,357 5,627 5,761
A 7,606 6,906 494 660 8,100 7,566
BBB 3,813 3,973 620 679 4,433 4,652
Below investment grade 23,376 22,333 8,314 8,683 31,690 31,016
Non-rated 24 40 81 109 105 149
Tota l $ 63,680 $ 58,638 $ 13,371 $ 15,608 $ 77,051 $ 74,246
Total
AAA $ 40,246 $ 39,419 $ 7,635 $ 8,630 $ 47,881 $ 48,049
AA 40,808 42,882 1,773 2,618 42,581 45,500
A 64,299 63,744 736 1,105 65,035 64,849
BBB 79,420 79,641 870 1,157 80,290 80,798
Below investment grade 34,027 32,237 8,617 9,004 42,644 41,241
Non-rated 1,059 351 81 109 1,140 460
Tota l $ 259,859 $ 258,274 $ 19,712 $ 22,623 $ 279,571 $ 280,897
Available-for-Sale Investments
The following table presents the fair value of our available-for-sale securities:
Fair Value at Fair Value at
December 31, December 31,
(in millions) 2014 2013
Bonds available for sale:
U.S. government and government sponsored entities $ 2,992 $ 3,195
Obligations of states, municipalities and political subdivisions 27,659 29,380
Non-U.S. governments 21,095 22,509
Corporate debt 144,433 144,552
Mortgage-backed, asset-backed and collateralized:
RMBS 37,520 36,148
CMBS 12,885 11,482
CDO/ABS 13,275 11,008
Total mortgage-backed, asset-backed and collateralized 63,680 58,638
Total bonds available for sale* 259,859 258,274