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The Registrant adopted this standard on January 1, 2012 and included the Condensed Consolidating Statement ofComprehensive Income (Loss).The Registrant includes in its statement of income (loss) dividends from its subsidiaries and equity in undistributedincome (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-ownedsubsidiaries.On December 1, 2009, the Registrant and the Federal Reserve Bank of New York (FRBNY) completed twotransactions that reduced the outstanding balance and the maximum amount of credit available under the FRBNYCredit Facility by $25 billion. In connection with one of those transactions, the Registrant assigned $16 billion of itsobligation under the FRBNY Credit Agreement to a subsidiary. The Registrant subsequently settled its obligation tothe subsidiary with a $15.5 billion non-cash dividend from the subsidiary. The difference was recognized over theremaining term of the FRBNY Credit Agreement as a reduction to interest expense. The remaining difference wasderecognized by AIG through earnings due to the repayment in January 2011 of all amounts owed under, and thetermination of, the FRBNY Credit Facility.Certain prior period amounts have been reclassified to conform to the current period presentation.The five-year debt maturity schedule is incorporated by reference from Note 15 to Consolidated FinancialStatements.The Registrant files a consolidated federal income tax return with certain subsidiaries and acts as an agent for theconsolidated tax group when making payments to the Internal Revenue Service. The Registrant and its subsidiarieshave adopted, pursuant to a written agreement, a method of allocating consolidated Federal income taxes. Amountsallocated to the subsidiaries under the written agreement are included in Due to Affiliates in the accompanyingCondensed Balance Sheets.Income taxes in the accompanying Condensed Balance Sheets are comprised of the Registrant’s current anddeferred tax assets, the consolidated group’s current income tax receivable, deferred taxes related to tax attributecarryforwards of AIG’s U.S. consolidated income tax group and a valuation allowance to reduce the consolidateddeferred tax asset to an amount more likely than not to be realized. See Note 24 to the Consolidated FinancialStatements for additional information.The consolidated U.S. deferred tax asset for net operating loss, capital loss and tax credit carryforwards andvaluation allowance are recorded by the Parent Company, which files the consolidated U.S. Federal income taxreturn, and are not allocated to its subsidiaries. Generally, as, and if, the consolidated net operating losses and othertax attribute carryforwards are utilized, the intercompany tax balance will be settled with the subsidiaries...................................................................................................................................................................................................................................AIG 2012 Form 10-K 363
Supplementary Insurance InformationAt December 31, 2012, 2011 and 2010 and for the years then endedSchedule IIILiabilityfor UnpaidClaims andClaimsLosses AmortizationDeferred Adjustment Reserve Policy Premiums and Loss of DeferredPolicy Expense, for and and Net Expenses Policy Other NetAcquisition Future Policy Unearned Contract Policy Investment Incurred, Acquisition Operating PremiumsSegment (in millions) Costs Benefits (a) Premiums Claims (b) Fees Income Benefits Costs Expenses Written2012AIG Property CasualtyAIG Life and RetirementMortgage GuarantyOther$ 2,441 $ 90,011 $ 22,161 $ 24 $ 34,873 $ 4,820 $ 25,785 $ 4,761 $ 7,317 $ 34,4365,672 32,288 – 856 5,219 10,755 9,977 931 2,079 –44 1,957 376 – 715 146 659 17 177 85825 75 – 9 (5) 4,622 (82) – (338) –$ 8,182 $ 124,331 $ 22,537 $ 889 $ 40,802 $ 20,343 $ 36,339 $ 5,709 $ 9,235 $ 35,2942011AIG Property Casualty $ 2,375 $ 91,686 $ 23,236 $ 26 $ 35,689 $ 4,348 $ 27,949 $ 4,324 $ 6,539 $ 34,840AIG Life and Retirement 6,502 30,607 – 880 5,218 9,882 9,132 1,142 2,085 –Mortgage Guaranty 25 3,104 229 – 792 132 834 20 167 801Other 35 65 – 5 (4) 393 2 – (333) –$ 8,937 $ 125,462 $ 23,465 $ 911 $ 41,695 $ 14,755 $ 37,917 $ 5,486 $ 8,458 $ 35,6412010AIG Property Casualty $ 2,099 $ 90,026 $ 23,573 $ 21 $ 32,521 $ 4,392 $ 27,867 $ 3,894 $ 6,207 $ 31,612AIG Life and Retirement 7,258 28,192 – 686 5,230 10,768 8,754 1,086 2,206 –Mortgage Guaranty 32 3,907 230 – 975 1,941 500 26 245 756Divested Businesses – – – – 9,266 3,963 8,719 814 1,821 –Other 42 294 – 5 37 (130) 39 1 (316) –$ 9,431 $ 122,419 $ 23,803 $ 712 $ 48,029 $ 20,934 $ 45,879 $ 5,821 $ 10,163 $ 32,368(a) Liability for unpaid claims and claims adjustment expense with respect to the General Insurance operations are net of discounts of$3.25 billion, $3.18 billion and $3.22 billion at December 31, 2012, 2011 and 2010, respectively.(b)Reflected in insurance balances payable in the accompanying Consolidated Balance Sheet...................................................................................................................................................................................................................................364 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 / LIQUIDITY AND CAPITAL RESO
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ITEM 7 / INVESTMENTS...............
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ITEM 7 / ENTERPRISE RISK MANAGEMENT
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ITEM 7 / CRITICAL ACCOUNTING ESTIMA
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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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Page 365 and 366: SignatureTitle/s/ ARTHUR C. MARTINE
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Page 393 and 394: CERTIFICATIONSI, Robert H. Benmosch
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