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STATUTORY FINANCIAL DATA AND RESTRICTIONS (Tables)

12 Months Ended

Dec. 31, 2020

STATUTORY FINANCIAL DATA AND RESTRICTIONS

Schedule of statutory capital and surplus and net income (loss) for AIG property casualty and AIG life and retirement operations in accordance with statutory accounting practices

(in millions)		2020		2019		2018
Years Ended December 31,
Statutory net income (loss)^(a)(b):
General Insurance companies:
Domestic	$	915	$	1,481	$	(1,030)
Foreign		949		1,384		558
Total General Insurance companies	$	1,864	$	2,865	$	(472)
Life and Retirement companies:
Domestic	$	680	$	325	$	671
Foreign		14		3,336		(553)
Total Life and Retirement companies	$	694	$	3,661	$	118
At December 31,
Statutory capital and surplus^(a)(b):
General Insurance companies:
Domestic	$	17,926	$	17,418
Foreign		15,592		16,409
Total General Insurance companies	$	33,518	$	33,827
Life and Retirement companies:
Domestic	$	10,960	$	9,228
Foreign		671		5,231
Total Life and Retirement companies	$	11,631	$	14,459
Aggregate minimum required statutory capital and surplus:
General Insurance companies:
Domestic	$	3,817	$	4,177
Foreign		7,303		8,080
Total General Insurance companies	$	11,120	$	12,257
Life and Retirement companies:
Domestic	$	3,574	$	3,357
Foreign		207		1,137
Total Life and Retirement companies	$	3,781	$	4,494

(a) Excludes discontinued operations and other divested businesses. Statutory capital and surplus and net income (loss) with respect to foreign operations are as of November 30.

(b) The 2020 amounts reflect our best estimate of the statutory net income, capital and surplus as of the date of AIG’s Form 10-K filing. In aggregate, the 2019 General Insurance companies and Life and Retirement companies statutory net income decreased by $4 million and the 2019 General Insurance companies and Life and Retirement companies statutory capital and surplus increased by $132 million, compared to the amounts previously reported in our Annual Report on Form 10-K for the year ended December 31, 2019, due to finalization of statutory filings and revision of prior period numbers.

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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