SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2020

SEGMENT INFORMATION

Schedule of continuing operations by operating segment including reconciling items

												Adjusted
				Net	Underwriting							Pre-tax
	Adjusted			Investment		Income		Interest	Amortization			Income
(in millions)		Revenues		Income		(Loss)		Expense		of DAC		(Loss)
2020
General Insurance
North America	$	10,302			$	(1,301)			$	1,365
International		13,360				277				2,173
Net investment income		2,925	$	2,925		-				-
Total General Insurance	$	26,587	$	2,925	$	(1,024)	$	-	$	3,538	$	1,901
Life and Retirement
Individual Retirement		5,714		4,131		-		72		590		1,938
Group Retirement		2,970		2,236		-		42		7		1,013
Life Insurance		4,877		1,526		-		30		30		142
Institutional Markets		3,714		988		-		11		5		438
Total Life and Retirement		17,275		8,881		-		155		632		3,531
Other Operations		1,385		1,087		-		1,306		50		(1,963)
AIG consolidation and eliminations		(562)		(572)		-		(70)		-		(466)
Total	$	44,685	$	12,321	$	(1,024)	$	1,391	$	4,220	$	3,003
Reconciling items to pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed
living benefits		56		56		-		-		-		41
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains (losses)		-		-		-		-		(9)		12
Changes in the fair value of equity securities		200		200		-		-		-		200
Other income (expense) - net		49		99		-		99		-		-
Loss on extinguishment of debt		-		-		-		-		-		(12)
Net investment income on Fortitude Re funds withheld assets(a)		1,053		1,053		-		-		-		1,053
Net realized capital gains (losses) on Fortitude Re funds withheld assets(a)		463		-		-		-		-		463
Net realized capital gains (losses) on Fortitude Re funds withheld
embedded derivative(a)		(2,645)		-		-		-		-		(2,645)
Net realized capital gains (losses)(b)		(148)		(98)		-		(33)		-		(97)
Loss from divested businesses		-		-		-		-		-		(8,525)
Non-operating litigation reserves and settlements		23		-		-		-		-		21
Unfavorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		-		-		-		-		221
Net loss reserve discount charge		-		-		-		-		-		(516)
Integration and transaction costs associated with acquiring or divesting
businesses		-		-		-		-		-		(12)
Restructuring and other costs		-		-		-		-		-		(435)
Non-recurring costs related to regulatory or accounting changes		-		-		-		-		-		(65)
Revenues and pre-tax income (loss)	$	43,736	$	13,631	$	(1,024)	$	1,457	$	4,211	$	(7,293)
2019
General Insurance
North America	$	12,136			$	(365)			$	1,923
International		14,302				454				2,559
Net investment income		3,444	$	3,444		-				-
Total General Insurance	$	29,882	$	3,444	$	89	$	-	$	4,482	$	3,533
Life and Retirement
Individual Retirement		5,643		4,122		-		77		449		1,977
Group Retirement		2,947		2,240		-		44		81		937
Life Insurance		4,825		1,483		-		30		137		331
Institutional Markets		2,941		888		-		11		5		308
Total Life and Retirement		16,356		8,733		-		162		672		3,553
Other Operations		3,060		2,598		-		1,260		64		(1,312)
AIG consolidation and eliminations		(388)		(385)		-		(55)		-		(304)
Total	$	48,910	$	14,390	$	89	$	1,367	$	5,218	$	5,470

Reconciling items to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		228		228		-		-		-		194
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains (losses)		-		-		-		-		(54)		56
Changes in the fair value of equity securities		158		158		-		-		-		158
Other income (expense) - net		46		85		-		87		-		-
Loss on extinguishment of debt		-		-		-		-		-		(32)
Net realized capital gains (losses)(b)		395		(242)		-		(37)		-		456
Loss from divested businesses		-		-		-		-		-		(75)
Non-operating litigation reserves and settlements		9		-		-		-		-		2
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		-		-		-		-		267
Net loss reserve discount charge		-		-		-		-		-		(955)
Integration and transaction costs associated with acquiring or divesting
businesses		-		-		-		-		-		(24)
Restructuring and other costs		-		-		-		-		-		(218)
Non-recurring costs related to regulatory or accounting changes		-		-		-		-		-		(12)
Revenues and pre-tax income	$	49,746	$	14,619	$	89	$	1,417	$	5,164	$	5,287
2018
General Insurance
North America	$	11,815			$	(2,430)			$	1,744
International		15,690				(707)				2,852
Net investment income		2,843	$	2,843		-				-
Total General Insurance	$	30,348	$	2,843		(3,137)	$	-		4,596	$	(294)
Life and Retirement
Individual Retirement		5,332		3,821		-		82		630		1,678
Group Retirement		2,894		2,175		-		42		95		936
Life Insurance		4,522		1,450		-		29		(30)		472
Institutional Markets		1,932		792		-		13		5		257
Total Life and Retirement		14,680		8,238		-		166		700		3,343
Other Operations		2,866		2,406		-		1,091		94		(1,489)
AIG consolidation and eliminations		103		114		-		83		-		39
Total	$	47,997	$	13,601	$	(3,137)	$	1,340	$	5,390	$	1,599
Reconciling items to pre-tax income:
Changes in fair value of securities used to hedge guaranteed
living benefits		(128)		(128)		-		-		-		(154)
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains (losses)		-		-		-		-		(4)		6
Changes in the fair value of equity securities		(184)		(184)		-		-		-		(184)
Other income (expense) - net		(53)		-		-		-		-		-
Loss on extinguishment of debt		-		-		-		-		-		(7)
Net realized capital losses(b)		(254)		(203)		-		(31)		-		(199)
Income from divested businesses		-		-		-		-		-		38
Non-operating litigation reserves and settlements		11		-		-		-		-		(19)
Unfavorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		-		-		-		-		(675)
Net loss reserve discount benefit		-		-		-		-		-		371
Integration and transaction costs associated with acquiring or divesting
businesses		-		-		-		-		-		(124)
Restructuring and other costs		-		-		-		-		-		(395)
Non-recurring costs related to regulatory or accounting changes		-		-		-		-		-		-
Revenues and pre-tax income	$	47,389	$	13,086	$	(3,137)	$	1,309	$	5,386	$	257

(a) Represents activity subsequent to the deconsolidation of Fortitude Re on June 2, 2020.

(b) Includes all net realized capital gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets).

Schedule of year-end identifiable assets and capital expenditures by segment

	Year-End Identifiable Assets				Capital Expenditures
(in millions)		2020		2019		2020		2019
General Insurance	$	156,590	$	156,358	$	156	$	105
Life and Retirement		396,275		371,742		107		104
Other Operations		33,616		(3,036)		90		95
Total Assets	$	586,481	$	525,064	$	353	$	304

Schedule of entity's consolidated total revenues and real estate and other fixed assets by major geographic area

							Real Estate and Other Fixed Assets,
	Total Revenues*						Net of Accumulated Depreciation
(in millions)		2020		2019		2018		2020		2019		2018
North America	$	30,204	$	36,930	$	31,376	$	1,230	$	1,333	$	1,479
International		13,532		12,816		16,013		610		620		693
Consolidated	$	43,736	$	49,746	$	47,389	$	1,840	$	1,953	$	2,172

*Revenues are generally reported according to the geographic location of the segment. International revenues consists of revenues from our General Insurance International operating segment.