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ITEM 7 / INVESTMENTS.....................................................................................................................................................................................Investments in RMBS..............................................................................................................................................................................................The following table presents our RMBS available for sale investments by year of vintage:Fair Value at Fair Value atDecember 31, December 31,(in millions) 2012 2011Total RMBS2012 $ 1,630 $ –2011 7,545 9,2472010 2,951 3,9252009 3786202008 4317142007 and prior * 21,457 20,098Total RMBS $ 34,392 $ 34,604Agency2012 $ 1,395 $ –2011 5,498 7,0052010 2,812 3,7742009 3215492008 4317142007 and prior 3,117 4,315Total Agency $ 13,574 $ 16,357Alt-A2010 $ 53 $ 642007 and prior 7,871 5,744Total Alt-A $ 7,924 $ 5,808Subprime2007 and prior $ 2,151 $ 1,456Total Subprime $ 2,151 $ 1,456Prime non-agency2012 $ 235 $ –2011 2,047 2,2412010 86882009 58712007 and prior 7,910 8,194Total Prime non-agency $ 10,336 $ 10,594Total Other housing related $ 407 $ 389* Includes approximately $10.9 billion of securities that were purchased at a significant discount to amortized cost commencing in the secondquarter of 2011...................................................................................................................................................................................................................................AIG 2012 Form 10-K 145
ITEM 7 / INVESTMENTS.....................................................................................................................................................................................The following table presents our RMBS available for sale investments by credit rating:Fair Value at Fair Value atDecember 31, December 31,(in millions) 2012 2011Rating:Total RMBSAAA $ 16,048 19,436AA 795979A 411409BBB 744773Below investment grade (a) 16,283 12,999Non-rated 1118Total RMBS (b) $ 34,392 34,604Agency RMBSAAA $ 13,464 16,357AA 110–Total Agency $ 13,574 16,357Alt-A RMBSAAA $ 57126AA 195414A 83161BBB 314251Below investment grade (a) 7,275 4,856Non-rated ––Total Alt-A $ 7,924 5,808Subprime RMBSAAA $ 38105AA 170127A 12918BBB 185221Below investment grade (a) 1,629985Non-rated ––Total Subprime $ 2,151 1,456Prime non-agencyAAA $ 2,487 2,850AA 317429A 196189BBB 208287Below investment grade (a) 7,017 6,831Non-rated 1118Total prime non-agency $ 10,336 10,594Total Other housing related $ 407389(a) Commencing in the second quarter of 2011, we began purchasing certain RMBSs that had experienced deterioration in credit quality sincetheir origination. See Note 7 to the Consolidated Financial Statements, Investments – Purchased Credit Impaired (PCI) Securities, for additionaldiscussion.(b) The weighted average expected life was 6 years at both December 31, 2012 and December 31, 2011, respectively.Our underwriting practices for investing in RMBS, other asset-backed securities and CDOs take into considerationthe quality of the originator, the manager, the servicer, security credit ratings, underlying characteristics of themortgages, borrower characteristics, and the level of credit enhancement in the transaction...................................................................................................................................................................................................................................146 AIG 2012 Form 10-K
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American International Group, Inc.2
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KEY FACTS & FIGURES52,000+ $65.7 bi
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■We said we would return to profi
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Financial HighlightsYears Ended Dec
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~63,000AIG EMPLOYEES AROUND THE WOR
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$115.1 millionAVERAGE CLAIMS PAID E
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$10,000MAXIMUM DONATION MADE BY AIG
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American International Group, Inc.F
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AMERICAN INTERNATIONAL GROUP, INC.A
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ITEM 1 / BUSINESS / AIG............
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ITEM 1 / BUSINESS / AIG............
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ITEM 1 / BUSINESS / AIG PROPERTY CA
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ITEM 1 / BUSINESS / AIG PROPERTY CA
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ITEM 1 / BUSINESS / AIG LIFE AND RE
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ITEM 1 / BUSINESS / OTHER OPERATION
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ITEM 1 / BUSINESS / OTHER OPERATION
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1 / BUSINESS..................
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ITEM 1A / RISK FACTORS.............
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ITEM 1B / UNRESOLVED STAFF COMMENTS
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ITEM 5 / MARKET FOR REGISTRANT’S
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ITEM 6 / SELECTED FINANCIAL DATA...
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ITEM 6 / SELECTED FINANCIAL DATA...
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ITEM 7 / MANAGEMENT’S DISCUSSION
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ITEM 7 / USE OF NON-GAAP MEASURES..
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ITEM 7 / EXECUTIVE SUMMARY.........
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ITEM 7 / RESULTS OF OPERATIONS.....
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ITEM 7 / GLOSSARY..................
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ITEM 7 / GLOSSARY..................
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ITEM 7A / QUANTITATIVE AND QUALITAT
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ITEM 8 / INDEX TO FINANCIAL STATEME
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AMERICAN INTERNATIONAL GROUP, INC.C
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ITEM 8 / NOTE 1. BASIS OF PRESENTAT
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ITEM 8 / NOTE 2. SUMMARY OF SIGNIFI
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ITEM 8 / NOTE 3. SEGMENT INFORMATIO
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ITEM 8 / NOTE 3. SEGMENT INFORMATIO
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ITEM 8 / NOTE 4. DIVESTED BUSINESSE
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ITEM 8 / NOTE 4. DIVESTED BUSINESSE
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ITEM 8 / NOTE 5. BUSINESS COMBINATI
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ITEM 8 / NOTE 6. FAIR VALUE MEASURE
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ITEM 8 / NOTE 7. INVESTMENTS.......
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ITEM 8 / NOTE 8. LENDING ACTIVITIES
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ITEM 8 / NOTE 9. REINSURANCE.......
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ITEM 8 / NOTE 10. DEFERRED POLICY A
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ITEM 8 / NOTE 10. DEFERRED POLICY A
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ITEM 8 / NOTE 11. VARIABLE INTEREST
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ITEM 8 / NOTE 11. VARIABLE INTEREST
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ITEM 8 / NOTE 12. DERIVATIVES AND H
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ITEM 8 / NOTE 13. LIABILITY FOR UNP
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ITEM 8 / NOTE 14. VARIABLE LIFE AND
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ITEM 8 / NOTE 15. DEBT OUTSTANDING.
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ITEM 8 / NOTE 15. DEBT OUTSTANDING.
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ITEM 8 / NOTE 16. CONTINGENCIES, CO
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ITEM 8 / NOTE 17. TOTAL EQUITY.....
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ITEM 8 / NOTE 18. NONCONTROLLING IN
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ITEM 8 / NOTE 19. EARNINGS (LOSS) P
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ITEM 8 / NOTE 20. STATUTORY FINANCI
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ITEM 8 / NOTE 21. SHARE-BASED COMPE
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ITEM 8 / NOTE 21. SHARE-BASED COMPE
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ITEM 8 / NOTE 22. EMPLOYEE BENEFITS
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ITEM 8 / NOTE 24. INCOME TAXES.....
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ITEM 8 / NOTE 26. QUARTERLY FINANCI
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ITEM 8 / NOTE 27. INFORMATION PROVI
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PART II............................
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PART IV............................
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SignatureTitle/s/ ARTHUR C. MARTINE
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ExhibitNumber Description Location(
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Condensed Financial Information of
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Condensed Financial Information of
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Notes to Condensed Financial Inform
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Supplementary Insurance Information
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Valuation and Qualifying AccountsFo
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Subsidiaries of RegistrantExhibit 2
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Percentageof VotingSecuritiesJurisd
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Percentageof VotingSecuritiesJurisd
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CONSENT OF INDEPENDENT REGISTERED P
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CERTIFICATIONSI, Robert H. Benmosch
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CERTIFICATIONExhibit 32In connectio
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SECURITIES REGISTERED PURSUANT TO S
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American International Group, Inc.1
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