AIG 2014 Annual Report Download - page 25

ITEM 1 / BUSINESS / AIG
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8
Global Footprint
Our Non-Life Insurance Companies net premiums written (NPW) of $34.5 billion in 2014 reflected our expansive global
footprint. Based on NPW in 2013, we are the largest commercial insurer in the U.S., the largest U.S. based property
casualty insurer in Europe, and the largest foreign property casualty insurer in China. In addition, AIG was first to market
in many emerging markets and is well positioned to enhance its businesses in countries such as Brazil, China through
strategic relationships with People’s Insurance Company (Group) of China Limited (PICC Group), and India with the Tata
Group.
Our Life Insurance Companies premiums and deposits (P&D) of $32.6 billion in 2014 demonstrate a substantial presence
in the U.S. and a meaningful share of the Japan market. P&D is a non-GAAP financial measure that includes direct and
assumed amounts received on traditional life insurance policies, group benefit policies and deposits on life-contingent
payout annuities, as well as deposits received on universal life, investment-type annuity contracts and mutual funds. See
Item 7. MD&A — Results of Operations for Institutional Markets, Retirement and Life for a reconciliation of P&D to
premiums.
We have a significant international presence in both developed markets and growth economy nations, specifically in Asia
Pacific, Central Europe, the Middle East, Africa and Latin America. We distribute our products through three major geographic
regions:
• Americas: Includes the United States, Canada, Latin America, the Caribbean and Bermuda.
• Asia Pacific: Includes Japan, China, Korea, Singapore, Malaysia, Thailand, Australia, Indonesia and other Asia Pacific
nations.
• EMEA (Europe, Middle East and Africa): Includes the United Kingdom, Continental Europe, the Russian Federation,
India, the Middle East and Africa.
In 2014, 6.3 percent of our property casualty direct premiums were written in the state of California and 15.7 percent and 7.5
percent were written in Japan and the United Kingdom, respectively. No other state or foreign jurisdiction accounted for more
than five percent of such premiums.
EMEA
Europe
Middle East
Africa
$7.3 bn NPW (21%)
Americas
U.S., Canada
Latin America and the Caribbean
$18.6 bn NPW (54%)
$31.7 bn P&D (97%)
Asia Pacific
Japan
Other Asia Pacific nations
$8.6 bn NPW (25%)
$904 mn P&D (3%)