SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021

SEGMENT INFORMATION

Schedule of continuing operations by operating segment including reconciling items

Three Months Ended September 30,	2021					2020
				Adjusted					Adjusted
		Adjusted		Pre-tax			Adjusted		Pre-tax
(in millions)		Revenues		Income (Loss)			Revenues		Income (Loss)
General Insurance
North America	$	2,907	$	(166)	(a)	$	2,494	$	(370)	(a)
International		3,516		186	(a)		3,359		(53)	(a)
Net investment income		791		791			839		839
Total General Insurance		7,214		811			6,692		416
Life and Retirement
Individual Retirement		1,560		292			1,479		532
Group Retirement		832		316			758		338
Life Insurance		1,211		134			1,189		32
Institutional Markets		841		135			564		106
Total Life and Retirement		4,444		877			3,990		1,008
Other Operations
Other Operations before consolidation and eliminations		301		(370)			223		(368)
AIG consolidation and eliminations		(206)		(192)			(149)		(140)
Total Other Operations		95		(562)			74		(508)
Total		11,753		1,126			10,756		916
Reconciling items to pre-tax income:
Changes in fair value of securities used to hedge guaranteed living benefits		14		26			14		15
Changes in benefit reserves and DAC, VOBA and SIA related to net
realized gains (losses)		-		9			-		78
Changes in the fair value of equity securities		(45)		(45)			119		119
Other income (expense) - net		(6)		-			22		-
Gain (loss) on extinguishment of debt		-		(51)			-		2
Net investment income on Fortitude Re funds withheld assets		495		495			458		458
Net realized gains on Fortitude Re funds withheld assets		190		190			32		32
Net realized losses on Fortitude Re funds withheld
embedded derivative		(209)		(209)			(656)		(656)
Net realized gains (losses)(b)		643		652			(524)		(512)
Income (loss) from divestitures		-		102			-		(24)
Non-operating litigation reserves and settlements		-		(3)			-		(1)
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		115			-		30
Net loss reserve discount benefit (charge)		-		(72)			-		31
Pension expense related to a one-time lump sum payment to former employees		-		(27)			-		-
Integration and transaction costs associated with acquiring or divesting
businesses		-		(11)			-		(1)
Restructuring and other costs		-		(104)			-		(100)
Non-recurring costs related to regulatory or accounting changes		-		(17)			-		(19)
Revenues and pre-tax income	$	12,835	$	2,176		$	10,221	$	368

Nine Months Ended September 30,	2021					2020
				Adjusted					Adjusted
		Adjusted		Pre-tax			Adjusted		Pre-tax
(in millions)		Revenues		Income (Loss)			Revenues		Income (Loss)
General Insurance
North America	$	7,980	$	(199)	(a)	$	7,699	$	(912)	(a)
International		10,524		755	(a)		9,970		59	(a)
Net investment income		2,294		2,294			1,945		1,945
Total General Insurance		20,798		2,850			19,614		1,092
Life and Retirement
Individual Retirement		4,556		1,441			4,178		1,386
Group Retirement		2,458		970			2,164		695
Life Insurance		3,839		114			3,608		112
Institutional Markets		2,617		417			2,987		311
Total Life and Retirement		13,470		2,942			12,937		2,504
Other Operations
Other Operations before consolidation and eliminations		884		(1,240)			1,145		(1,535)
AIG consolidation and eliminations		(511)		(462)			(255)		(174)
Total Other Operations		373		(1,702)			890		(1,709)
Total		34,641		4,090			33,441		1,887
Reconciling items to pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed living benefits		46		61			42		24
Changes in benefit reserves and DAC, VOBA and SIA related to net
realized gains (losses)		-		(74)			-		(205)
Changes in the fair value of equity securities		(36)		(36)			(16)		(16)
Other income (expense) - net		(14)		-			46		-
Loss on extinguishment of debt		-		(149)			-		(15)
Net investment income on Fortitude Re funds withheld assets		1,488		1,488			574		574
Net realized gains on Fortitude Re funds withheld assets		536		536			128		128
Net realized gains (losses) on Fortitude Re funds withheld
embedded derivative		117		117			(1,493)		(1,493)
Net realized gains(b)		1,192		1,220			1,332		1,375
Income (loss) from divestitures		-		108			-		(8,652)
Non-operating litigation reserves and settlements		-		(3)			6		5
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		199			-		71
Net loss reserve discount charge		-		(62)			-		(41)
Pension expense related to a one-time lump sum payment to former employees		-		(27)			-		-
Integration and transaction costs associated with acquiring or divesting
businesses		-		(55)			-		(7)
Restructuring and other costs		-		(304)			-		(324)
Non-recurring costs related to regulatory or accounting changes		-		(58)			-		(46)
Revenues and pre-tax income (loss)	$	37,970	$	7,051		$	34,060	$	(6,735)

(a) General Insurance North America’s and General Insurance International’s Adjusted pre-tax income does not include Net investment income as the investment portfolio results are managed at the General Insurance level. Net investment income is shown separately as a component of General Insurance’s total Adjusted pre-tax income results.

(b) Includes all net realized 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).