SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

3. SEGMENT INFORMATION

We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources through two reportable segments: Commercial Insurance and Consumer Insurance as well as a Corporate and Other category. The Corporate and Other category consists of businesses and items not allocated to our reportable segments.

We evaluate performance based on revenue and pre-tax operating income (loss). Pre-tax operating income (loss) is derived by excluding certain items from net income (loss) attributable to AIG. See the table below for items excluded from pre-tax operating income (loss).

The following tables present our operations by reportable segment:

	2015				2014
				Pre-Tax				Pre-Tax
Three Months Ended September 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	5,715	$	569	$	6,425	$	952
Mortgage Guaranty		266		162		262		135
Institutional Markets		578		84		626		153
Total Commercial Insurance		6,559		815		7,313		1,240
Consumer Insurance
Retirement		2,203		635		2,472		1,094
Life		1,578		(40)		1,575		50
Personal Insurance		2,871		62		3,163		120
Total Consumer Insurance		6,652		657		7,210		1,264
Corporate and Other*		109		(613)		1,121		149
AIG consolidation and elimination		(141)		(11)		(168)		(68)
Total AIG consolidated revenues and pre-tax operating income		13,179		848		15,476		2,585
Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income (loss):
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		4		4		32		32
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(2)		-		(45)
Loss on extinguishment of debt		-		(346)		-		(742)
Net realized capital gains (loss)		(342)		(342)		536		536
Net gain (loss) on sale of divested businesses		-		(3)		-		17
Non-operating litigation reserves and settlements		-		30		653		636
Reserve development related to non-operating run-off insurance business		-		(30)		-		-
Restructuring and other costs		-		(274)		-		-
Other		(19)		-		-		-
Revenues and pre-tax income (loss)	$	12,822	$	(115)	$	16,697	$	3,019
	2015				2014
				Pre-Tax				Pre-Tax
Nine Months Ended September 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues	Income (Loss)
Commercial Insurance
Property Casualty	$	17,904	$	2,931	$	18,868	$	3,313
Mortgage Guaranty		791		464		769		421
Institutional Markets		2,374		382		2,028		552
Total Commercial Insurance		21,069		3,777		21,665		4,286
Consumer Insurance
Retirement		7,056		2,239		7,367		2,773
Life		4,823		280		4,745		500
Personal Insurance		8,602		106		9,356		278
Total Consumer Insurance		20,481		2,625		21,468		3,551
Corporate and Other*		2,270		(79)		3,218		39
AIG consolidation and elimination		(416)		(80)		(356)		(42)
Total AIG consolidated revenues and pre-tax operating income		43,404		6,243		45,995		7,834

Reconciling items from Total revenues and Pre-tax operating income (loss) to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		(39)		(39)		162		162
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(84)		-		(90)
Loss on extinguishment of debt		-		(756)		-		(1,014)
Net realized capital gains		1,125		1,125		546		546
Net gain (loss) on sale of divested businesses		(48)		(58)		1,602		2,189
Non-operating litigation reserves and settlements		91		86		691		145
Reserve development related to non-operating run-off insurance business		-		(30)		-		-
Restructuring and other costs		-		(274)		-		-
Other		(37)		-		-		-
Revenues and pre-tax income	$	44,496	$	6,213	$	48,996	$	9,772

* Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.