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ITEM 7 / INVESTMENTS.....................................................................................................................................................................................Investments in CMBS..............................................................................................................................................................................................The following table presents our CMBS available for sale investments:Fair Value at Fair Value atDecember 31, December 31,(in millions) 2012 2011CMBS (traditional) $ 7,880 $ 6,333ReRemic/CRE CDO 219261Agency 1,486 1,290Other 54962Total $ 10,134 $ 7,946The following table presents our CMBS available for sale investments by year of vintage:Fair Value at Fair Value atDecember 31, December 31,(in millions) 2012 2011Year:2012 $ 1,427 $ –2011 1,347 1,4232010 8072982009 44422008 1612112007 and prior 6,348 5,972Total $ 10,134 $ 7,946The following table presents our CMBS available for sale investments by credit rating:Fair Value at Fair Value atDecember 31, December 31,(in millions) 2012 2011Rating:AAA $ 4,278 $ 3,693AA 1,591734A 827948BBB 1,266818Below investment grade 2,156 1,740Non-rated 1613Total $ 10,134 $ 7,946..................................................................................................................................................................................................................................AIG 2012 Form 10-K 147
ITEM 7 / INVESTMENTS.....................................................................................................................................................................................The following table presents the percentage of our CMBS available for sale investments by geographicregion based on amortized cost:Geographic region:New York 16% 15%California 910Texas 66Florida 45Virginia 33New Jersey 33Illinois 32Pennsylvania 22Nevada 22Georgia 22Massachusetts 22Washington 22All other * 4646Total 100% 100%* Includes Non-U.S. locations.The following table presents the percentage of our CMBS available for sale investments by industry basedon amortized cost:Industry:Office 27% 28%Multi-family * 23 26Retail 25 25Lodging 13 8Industrial 6 6Other 6 7Total 100% 100%* Includes Agency-backed CMBS.The fair value of CMBS holdings remained stable throughout 2012. The majority of our investments in CMBS are intranches that contain substantial protection features through collateral subordination. As indicated in the tables,downgrades have occurred on many CMBS holdings. The majority of CMBS holdings are traditional conduittransactions, broadly diversified across property types and geographical areas.Investments in CDOs..............................................................................................................................................................................................The following table presents our CDO available for sale investments by collateral type:December 31, December 31,2012 2011December 31, 2012 2011Fair value at Fair value atDecember 31, December 31,(in millions) 2012 2011Collateral Type:Bank loans (CLO) $ 2,579 $ 1,756Synthetic investment grade 2576Other 424390Subprime ABS 1010Total $ 3,038 $ 2,232..................................................................................................................................................................................................................................148 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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Page 113 and 114: ITEM 7 / RESULTS OF OPERATIONS.....
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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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