AIG 2014 Annual Report Download - page 70
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53
The MD&A is organized as follows:
INDEX TO ITEM 7
Pa
g
e
USE OF NON-GAAP MEASURES 54
EXECUTIVE OVERVIEW 56
Executive Summary 57
Strategic Outlook 61
RESULTS OF OPERATIONS 69
Segment Results 71
Commercial Insurance 73
Consumer Insurance 87
Corporate and Other 102
INVESTMENTS 106
Overview 106
Investment Highlights 106
Investment Strategies 106
Investments by Legal Entity 107
Credit Ratings 110
Impairments 119
INSURANCE RESERVES 122
Non-Life Insurance Com
p
anies 122
Life Insurance Com
p
anies DAC and Reserves 138
LIQUIDITY AND CAPITAL RESOURCES 143
Overview 143
Anal
y
sis of Sources and Uses of Cash 145
Liquidit
y
and Capital Resources of AIG Parent and Subsidiaries 147
Credit Facilities 151
Contin
g
ent Liquidit
y
Facilities 152
Contractual Obli
g
ations 152
Off-Balance Sheet Arran
g
ements and Commercial Commitments 153
Debt 155
Credit Ratin
g
s 157
Re
g
ulation and Su
p
ervision 157
Dividends and Repurchases of AIG Common Stock 158
Dividend Restrictions 158
ENTERPRISE RISK MANAGEMENT 159
Overview 159
Credit Risk Mana
g
ement 162
Market Risk Mana
g
ement 163
Li
q
uidit
y
Risk Mana
g
ement 167
CRITICAL ACCOUNTING ESTIMATES 176
GLOSSARY 204
ACRONYMS 207
Throughout the MD&A, we use certain terms and abbreviations which are summarized in the Glossary and Acronyms.
We have incorporated into this discussion a number of cross-references to additional information included throughout this
Annual Report on Form 10-K to assist readers seeking additional information related to a particular subject.