AIG 2014 Annual Report Download - page 35

ITEM 1 / BUSINESS / CONSUMER INSURANCE
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platforms, corporate initiatives, certain compensation plan expenses, corporate level net realized capital gains and losses,
certain litigation-related charges and credits, net gain (loss) on sale of divested businesses that did not meet the criteria for
discontinued operations accounting treatment, and equity in the earnings of AerCap.
Run-off Insurance Business consists primarily of run-off lines of business, including excess workers’ compensation,
asbestos and legacy environmental (1986 and prior); certain environmental liability businesses written prior to 2004 and
certain long-duration business, primarily in Japan and the U.S.
Other Businesses include investments in life settlements, real estate investment operations, institutional asset management
operations, equipment financing operations and our remaining consumer finance business.
Aircraft Leasing consists of ILFC. On May 14, 2014, we completed the sale of 100 percent of the common stock of ILFC to
AerCap Ireland Limited, a wholly owned subsidiary of AerCap, in exchange for total consideration of approximately $7.6 billion,
including cash and 97.6 million newly issued AerCap common shares (the AerCap Transaction). As a result of the AerCap
Transaction, we own approximately 46 percent of the outstanding common stock of AerCap. We account for our interest in
AerCap using the equity method of accounting. See Note 4 to the Consolidated Financial Statements for additional
information on the AerCap Transaction.
Retained Interests includes fair value gains and losses on (i) AIA ordinary shares retained following the AIA initial public
offering prior to their sale in 2012 and (ii) Maiden Lane III LLC (ML III) assets prior to their liquidation in 2012.
OUR EMPLOYEES
At December 31, 2014, we had approximately 65,000 employees. We believe that our relations with our employees are
satisfactory.