AIG 2014 Annual Report Download - page 137

ITEM 7 / INVESTMENTS
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120
Other-than-temporary impairment charges by investment type and impairment type:
Other Fixed Equities/Other
(in millions) RMBS CDO/ABS CMBS Maturity Invested Assets*Total
For the Year Ended December 31, 2014
Impairment Type:
Severity $ - $ - $ - $ - $ 3 $ 3
Change in intent - - - 27 13 40
Foreign currency declines - - - 19 -19
Issuer-specific credit events 80 921 8 51 169
Adverse projected cash flows 16 - - - -16
Tota l $96 $ 9 $ 21 $ 54 $67 $247
For the Year Ended December 31, 2013
Impairment Type:
Severity $ - $ - $ - $ - $ 6 $ 6
Change in intent 1 - - 46 1 48
Foreign currency declines - - - 1 - 1
Issuer-specific credit events 36 5 50 27 52 170
Adverse projected cash flows 7 - - - - 7
Total $ 44 $ 5 $ 50 $ 74 $ 59 $ 232
For the Year Ended December 31, 2012
Impairment Type:
Severity $ - $ - $ - $ - $ 44 $ 44
Change in intent 4 - - 34 24 62
Foreign currency declines - - - 8 - 8
Issuer-specific credit events 433 7 208 24 259 931
Adverse projected cash flows 5 - - - - 5
Total $ 442 $ 7 $ 208 $ 66 $ 327 $ 1,050
* Includes other-than-temporary impairment charges on private equity funds, hedge funds and direct private equity investments.
Other-than-temporary impairment charges by investment type and credit rating:
Other Fixed Equities/Other
(in millions) RMBS CDO/ABS CMBS Maturity Invested Assets*Total
For the Year Ended December 31, 2014
Rating:
AAA $ - $ - $ - $ 4 $ - $ 4
AA 3 - - 2 - 5
A - - - 2 - 2
BBB 2 - - 11 -13
Below investment grade 91 521 35 -152
Non-rated - 4 - - 67 71
Tota l $96 $ 9 $ 21 $54 $67 $247
For the Year Ended December 31, 2013
Rating:
AAA $ 1 $ - $ - $ - $ - $ 1
AA 2 - - - - 2
A 1 - - - - 1
BBB 1 - - 44 - 45
Below investment grade 39 5 50 29 - 123
Non-rated - - - 1 59 60
Total $ 44 $ 5 $ 50 $ 74 $ 59 $ 232