AIG 2014 Annual Report Download - page 95

ITEM 7 / RESULTS OF OPERATIONS / COMMERCIAL INSURANCE
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Property Casualty Net Premiums Written by Region
The following table presents Property Casualty’s net premiums written by region:
Percentage Change in Percentage Change in
Years Ended December 31, U.S. dollars Original Currency
(in millions) 2014 2013 2012 2014 vs. 2013 2013 vs. 2012 2014 vs. 2013 2013 vs. 2012
Property Casualty:
Americas $ 13,799 $ 14,050 $ 13,718 (2)% 2 % (2)% 3 %
Asia Pacific 2,029 2,035 2,016 - 1 5 11
EMEA 5,192 4,795 4,614 8 4 7 4
Total net premiums written $ 21,020 $ 20,880 $ 20,348 1 % 3 % 1 % 4 %
PROPERTY CASUALTY NET PREMIUMS WRITTEN BY REGION
(in millions)
2014 and 2013 Comparison
The Americas net premiums written decreased in 2014 compared to 2013, primarily due to declines in new business growth
and rate pressure, particularly in the Casualty business. However, for 2014, the decrease in net premiums written was partially
offset by lower ceded premiums from catastrophe reinsurance transactions described above in 2014 compared to 2013.
Asia Pacific net premiums written decreased slightly in 2014 compared to 2013, primarily due to the strengthening of the U.S.
dollar against the Japanese yen. Excluding the effect of foreign exchange, net premiums written increased primarily due to
increases in targeted growth products, and changes to optimize our reinsurance structure as part of our decision to retain more
favorable risks while continuing to manage aggregate exposure, particularly in Japan.
EMEA net premiums written increased in 2014 compared to 2013, due to new business growth across all lines of businesses,
except for Specialty.
2013 and 2012 Comparison
The Americas net premiums written increased in 2013 compared to 2012, primarily due to rate increases, partially offset by
decreases in Casualty business reflecting the execution of our strategy to enhance risk selection and the effect of the timing of
the catastrophe reinsurance transactions.