8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 13, 2013

AMERICAN INTERNATIONAL GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-8787	13-2592361
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

180 Maiden Lane

New York, New York 10038

(Address of principal executive offices)

Registrant’s telephone number, including area code: (212) 770-7000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 7 — Regulation FD

Item 7.01. Regulation FD Disclosure.

American International Group, Inc. (the “Company”) is furnishing the Investor Presentation, dated November 13, 2013, attached as Exhibit 99.1 to this Current Report on Form 8-K (the “Investor Presentation”), which the Company may use from time to time in presentations to investors and other stakeholders. The Investor Presentation will also be available on the Company’s website at www.aig.com.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Investor Presentation dated November 13, 2013 (furnished and not filed for purposes of Item 7.01).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		AMERICAN INTERNATIONAL GROUP, INC. (Registrant)
Date:	November 13, 2013	By:	/s/ James J. Killerlane III
			Name:	James J. Killerlane III
			Title:	Associate General Counsel and Assistant Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Investor Presentation dated November 13, 2013 (furnished and not filed for purposes of Item 7.01).

EX-99.1

American International Group, Inc.

Investor Presentation

November 13, 2013

Exhibit 99.1

2

Cautionary Statement Regarding Projections and Other

Information About Future Events

This document and the remarks made within this presentation may include, and officers and representatives of American

International Group, Inc. (AIG) may from time to time make, projections, goals, assumptions and statements that may constitute

“forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of 1995. These projections, goals,

assumptions and statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by

their nature, are inherently uncertain and outside AIG’s control. These projections, goals, assumptions and statements include

statements

preceded

by,

followed

by

or

including

words

such

as

“believe,”

“anticipate,”

“expect,”

“intend,”

“plan,”

“view,”

“target”

or

“estimate”. It is possible that AIG’s actual results and financial condition will differ, possibly materially, from the results and financial

condition

indicated

in

these

projections,

goals,

assumptions

and

statements.

Factors

that

could

cause

AIG’s

actual

results

to

differ,

possibly materially, from those in the specific projections, goals, assumptions and statements include: changes in market conditions;

the occurrence of catastrophic events, both natural and man-made; significant legal proceedings; the timing and applicable

requirements of any new regulatory framework to which AIG is subject as a savings and loan holding company, as a systemically

important financial institution, and as a global systemically important insurer; concentrations in AIG’s investment portfolios; actions by

credit rating agencies; judgments concerning casualty insurance underwriting and insurance liabilities; judgments concerning the

recognition of deferred tax assets; and such other factors discussed in Part I, Item 2. Management’s Discussion and Analysis of

Financial Condition and Results of Operations (MD&A) in AIG’s Quarterly Report on Form 10-Q for the quarter ended September 30,

2013, in Part II, Item 1A. Risk Factors in AIG’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 and in Part I, Item

1A. Risk Factors and Part II, Item 7. MD&A in AIG’s Annual Report on Form 10-K for the year ended December 31, 2012.

AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions or

other

statements,

whether

written

or

oral,

that

may

be

made

from

time

to

time,

whether

as

a

result

of

new

information,

future

events

or

otherwise.

This

document

and

the

remarks

made

orally

may

also

contain

certain

non-GAAP

financial

measures.

The

reconciliation

of such measures to the most comparable GAAP measures in accordance with Regulation G is included in the Third Quarter 2013

Financial

Supplement

available

in

the

Investor

Information

section

of

AIG's

corporate

website,

www.aig.com,

as

well

as

this

presentation.

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that (i) any U.S. tax advice

contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the

purpose of avoiding penalties under the Internal Revenue Code; (ii) any such tax advice is written in connection with the promotion

or

marketing

of

the

matters

addressed;

and

(iii)

if

you

are

not

the

original

addressee

of

this

communication,

you

should

seek

advice

based on your particular circumstances from an independent advisor.

3

AIG –

An Established Global Insurance Franchise

Core

Insurance

Businesses

Strategies

Key Accomplishments

AIG Property

Casualty

Grow high value lines and optimize business mix

Nine months 2013 NPW growth of 6.6% in all

major lines excluding FX, Reinsurance, and

Casualty (9.3% for Commercial excluding above

items) compared to prior year period

Remediated certain segments of Casualty lines

Execute on technical

underwriting, improved claims management,

and analytics

Nine months 2013 Accident year loss ratio, as

adjusted, improvement of 6.3 pts since

beginning of 2011

Capitalize on global footprint; presence in over 90 countries

HSBC agreement / PICC joint venture

12.8% of nine months 2013 NPW from growth

economies

(1)

AIG Life and

Retirement

Maintain

balanced

portfolio

of

products

and

leverage

scale

advantage

Diversified sources of net flows and earnings

Optimize spread management through new business pricing and

active crediting rate management

Crediting rates reduced in fixed annuities &

group retirement

Deliver stable consistent earnings

Approximately

$0.8

bn

–

$1.4

bn

in

quarterly

pre-tax

operating

income

since

4Q11

Mortgage

Guaranty

Selectively underwrite based on multivariate model to achieve

higher risk adjusted returns

Earnings reflect new business; 55% of net

premiums earned in 3Q13 were from business

written after 2008

Actively manage legacy book

33% decline in delinquency ratio from 3Q12 to

6.4% at 3Q13

A platform for delivering sustainable profitable growth.

1)

Growth economies are those within Central Europe, Middle East, Africa, Latin America and Asia Pacific, excluding Japan.

4

AIG –

Building on Capital Strength

Active Capital Management

Paid $0.10/sh. quarterly cash dividend in

September 2013; $1 billion share repurchase

authorization

Nine months 2013 debt calls and tenders of

$3.4 billion (face amount) and approximately

$192 million shares repurchased

Since May 2011, deployed approximately

$18 billion through share repurchases,

dividends and liability management

Robust Statutory Capital

Year-end

2012

fleet

RBC

ratios

(1)

:

–

AIG

PC

U.S.:

443%

(ACL)

–

AIG L&R: 532% (CAL)

Year-end 2012 fleet adjusted

statutory

capital

(1)

:

–

AIG PC U.S.: $24 billion

–

AIG L&R: $21 billion

Growth in BVPS

September 30, 2013 BVPS (ex. AOCI)

$62.68 –

up 8% from 12/31/12

Strong Liquidity

& Cash Flows

Nine months 2013 distributions from

insurance subsidiaries of $4.6 billion

Additional tax sharing payments to Parent

$12.7 billion of AIG Parent liquidity

Monetization of

Deferred Tax Assets

Net DTA of $16.7 billion at Dec. 31, 2012

Note: Data as of September 30, 2013 unless otherwise noted.

AIG

Property

Casualty

$48.8 bn

AIG Life and

Retirement

$37.9 bn

Other

$9.7 bn

(2)

Mortgage

Guaranty

$2.4 bn

AIG Shareholders’

Equity -

$98.8 bn at September 30, 2013

1)

The

inclusion

of

fleet

RBC

measures

and

fleet

adjusted

statutory

capital

is

intended

solely

for

the

information

of

investors

and

is

not

intended

for

the

purpose

of

ranking

any

insurance

company

or

for

use

in

connection

with

any

marketing,

advertising

or

promotional

activities.

ACL

is

defined

as

Authorized Control Level and CAL is defined as Company Action Level.

2)

Other includes AIG Parent (including the deferred tax asset valuation allowance), Global Capital Markets, Direct Investment book, AIG Life Holdings,

Inc. (a non-operating holding company) and assets and liabilities held for sale, net of consolidation and eliminations.

AIG Property Casualty

*

*

*

*

*

*

*

*

*

*

*

6

45,000 employees who serve clients worldwide

52% of premiums written outside of U.S. and Canada in 2012

$115 million average claims paid each business day in 2012

#1 commercial insurance

organization in

U.S./Canada, with

established and growing

position in Latin America

(2)

#1 U.S.-based property casualty

insurance organization in Europe, with

established and growing positions in

the Middle East and Africa

(2)

#1 foreign property

casualty insurance

organization in Japan

and China

(2)

Asia Pacific

2012 NPW: $10.4 bn

30% of total NPW

AIG Property Casualty –

A Truly Global Franchise

AIG Property Casualty is a diversified global P&C market leader with 2012 NPW of over $34 billion.

1)

EMEA region consists of Europe, Middle East and Africa.

2)

As measured by net premiums written.

EMEA

(1)

2012 NPW: $6.4 bn

19% of total NPW

Americas

2012 NPW: $17.6 bn

51% of total NPW

7

AIG Property Casualty –

Financial Highlights

Full Year

Nine

Months

2013

($ in billions)

2010

2011

2012

Net premiums written

$31.6

$34.8

$34.4

$26.4

Net investment income

4.4

4.3

4.8

3.8

Pre-tax

operating

income

(loss)

(1)

(1.1)

1.2

1.8

3.7

Accident

year

loss

ratio,

as

adjusted

(2)

69.2

68.7

65.2

62.9

Expense ratio

31.1

30.5

34.7

34.3

Accident year combined ratio, as adjusted

(2)

100.3

99.2

99.9

97.2

Cash & invested assets

(3)

123.2

127.0

131.4

124.9

Shareholders’

equity

42.8

47.3

48.9

48.8

Shareholders’

equity, excluding AOCI

40.8

44.3

43.7

45.6

1)

Pre-tax operating income (loss) includes both underwriting income (loss) and net investment income, but excludes net realized capital (gains) losses, other

(income) expense, legal settlements related to legacy crisis matters and bargain purchase gain. Underwriting income (loss) is derived by reducing net

premiums earned by claims and claims adjustment expenses incurred, acquisition expenses and general operating expenses. “Legacy crisis matters”

include favorable and unfavorable settlements related to events leading up to and resulting from AIG’s September 2008 liquidity crisis and legal fees

incurred by AIG as the plaintiff in connection with such legal matters.

2)

Excludes catastrophe losses and related reinstatement premiums, prior year development, net of premium adjustments, and the impact of reserve

discounting.

3)

Includes intercompany invested assets that are eliminated in consolidation.

$

$

$

$

$

$

$

$

$

$

$

$

8

AIG Property Casualty –

Business Overview

AIG Property Casualty offers a broad product platform.

Global –

Unique ability to serve multinational clients

Innovative –

Often first to market in new products and services, such as CyberEdge

Maximizing value –

Run-off lines actively managed for highest return on capital

Capital

Strength

–

U.S.

fleet

adjusted

statutory

capital

of

$24

billion

at

year-end

2012

Commercial Insurance

Nine Months 2013 NPW –

$16.0 bn

Consumer Insurance

Nine Months 2013 NPW –

$10.4 bn

1)

The

inclusion

of

fleet

RBC

measures

and

fleet

adjusted

statutory

capital

is

intended

solely

for

the

information

of

investors

and

is

not

intended

for

the

purpose of ranking any insurance company or for use in connection with any marketing, advertising or promotional activities.

(1)

9

AIG Property Casualty –

Strategic Focus

Strategic levers driving shareholder value creation.

Business

Mix

Underwriting

Excellence

Claims

Service

Operational

Effectiveness

Capital

Management

Balance growth with

profitability and risk

Growth in Risk

Adjusted Profitability

(RAP) accretive

products and

geographies

Achieve scale in key

markets over a

reasonable period of

time

Rationalize/price for

capital intensive

product lines

Globalize

standards for

underwriting and

pricing

Expand

underwriter toolkit

Balance between

art and science

intertwined with

finer segmentation

Global Claims

Initiative leading to

claims cost savings

Improved claims

practices in medical

and anti-fraud

driven by data

analytics

Build advanced

claims IT

architecture

Simplify and

standardize legacy

operating models

Reduce overhead

with cost

optimization and

shared service hubs

Use RAP as a key

performance

indicator

Leverage capital

maintenance

agreements with

AIG

Increase

underwriting

leverage

10

AIG Property Casualty –

Strong Brands and Customer Loyalty

AIG Property Casualty continues to be recognized for excellence.

AIG Clients as a Percentage of Each Category (As of 6/1/13)

Confirmit

2013 Achievement in Customer

Excellence

Reader’s Digest

2013 Trusted Brand Award for

Auto Insurance

World Travel Fair

2013 Best Quality Service, Travel Insurance

Company (3

rd

Consecutive Year)

Business Insurance

2013 Innovation Awards

2012 Buyer’s Choice Awards

Motordata Research Consortium

2013

Insurer

of

the

Year

-

Best

Automotive

Claims

Management

Service

(2

Consecutive

Year)

Nanfang

Daily

2013

Most

Trustworthy

Financial

Brand

(2

Consecutive Year)

Global Finance

2013 Best Global Insurers Awards

British Insurance Award

2013 Underwriter of the Year

Indonesia Insurance Awards

2013 Corporate Social Responsibility,

Human Capital, Information Technology,

and Marketing Awards

Willis Survey

#1 Performing U.S. Carrier after

Storm Sandy

PropertyCasualty360

2013 Best Overall Commercial

Insurance Provider

Risk & Försäkring

2013 Insurance Company of the Year

Australian Business Award

2013 Service Excellence

UK Insurance Claims Award

2013 Innovation of the Year

Reaction Magazine

2013 Best Insurance Company in

North America

Celent Model Insurer Award

2011

-

2013

MarketScout

2012 Entrepreneurial Award

JD Power and Associates

2012 Claims & Customer Satisfaction

Australia and New Zealand

Institute of Insurance & Finance

(ANZIIF)

nd

2013 Innovation of the Year – Cyber Edge

nd

11

AIG Property Casualty –

Product Diversification

Commercial Insurance

Consumer Insurance

Casualty

General Liability

Commercial Auto

Workers’

Compensation

Excess Casualty

Crisis Management

Property

Industrial,

Energy

and

Commercial

Property

Global

Property

including

high

deductible

Specialty

Aerospace

Environmental

Political Risk

Trade Credit

Marine

Surety

Financial Lines

D&O, E&O

Fidelity

Employment Practices

Cyber Security

Kidnap and Ransom

Accident and

Health

Personal Accident

Supplemental Medical

Travel

Life

Personal Lines

Automobile

Homeowners

Extended Warranty

Specialty (e.g., identity theft, credit

card protection)

Private Client Group

12

AIG Property Casualty –

Growth Economies

Growth economies accounted for 12.8% of NPW for nine months 2013,

up 13.4% from nine months 2012

Growth economies are those within Central Europe, Middle East, Africa,

Latin America and Asia Pacific, excluding Japan

#1 foreign property casualty insurance organization in China

(1)

Strategic investments in PICC for P&C and Life & Retirement products

10 year Bancassurance agreement with HSBC in Turkey

1) Ranking as of December 31, 2012, as measured by net premiums written.

13

AIG Property Casualty –

Investment Composition & Ratings

1)

Includes intercompany invested assets that are eliminated in consolidation.

Total

Cash

&

Invested

Assets

-

$124.9

billion

(1)

Bond Portfolio -

$101.0 billion

(1)

-

by Agency Credit Rating

(As of September 30, 2013)

States,

municipalities,

and political

subdivisions

19%

U.S.

Governments

2%

Non-U.S.

governments

15%

Corporate debt

27%

RMBS

10%

CMBS

2%

CDO/ABS

5%

Equities

3%

Other

invested

assets

11%

Loans

1%

Cash and short-

term

investments

5%

AAA

22%

AA

29%

A

26%

BBB

13%

BB

2%

B

2%

<B

6%

AIG Life and Retirement

*

*

*

*

*

*

*

*

*

*

*

15

AIG Life and Retirement –

Operating from a Position of Strength

Market Leader

Long standing leading market positions

Scale advantage in key product lines

Product Diversity

& Capacity for

Growth

Comprehensive portfolio of life insurance, A&H, annuity, group retirement,

group benefits, institutional products and mutual funds

Year-end

2012

fleet

RBC

ratio

at

532%

(CAL)

supports

sales

growth

(1)

Multi-channel

Distribution

Distribution organization leverages broad product portfolio across all channels

Over 300,000 financial professionals

Capital and

Expense

Efficiencies

Simplified legal structure enhances capital efficiencies, expense savings and

ease

of

doing

business

–

10

insurance

legal

entities

consolidated

to

3

Fleet

adjusted

statutory

capital

of

$21

billion

at

year-end

2012

(1)

1)

The

inclusion

of

fleet

RBC

measures

and

fleet

adjusted

statutory

capital

is

intended

solely

for

the

information

of

investors

and

is

not

intended

for

the

purpose

of

ranking

any

insurance

company

or

for

use

in

connection

with

any

marketing,

advertising

or

promotional

activities.

CAL

is

defined

as

Company

Action Level.

16

AIG Life and Retirement –

Financial Highlights

Full Year

Nine

Months

2013

($ in billions)

2010

2011

2012

Premiums

and

deposits

(1)

$19.5

$24.4

$21.0

$20.8

Net investment income

10.8

9.9

10.7

8.0

Pre-tax operating income

(2)

4.1

3.3

4.2

3.7

Cash & invested assets

(3)

183.8

194.2

205.3

196.3

Assets under management

248.5

256.9

290.4

304.4

Shareholders’

equity

33.4

34.2

40.0

37.9

Shareholders’

equity, excluding AOCI

30.0

29.5

31.6

33.8

1)

Premiums and deposits includes amounts received on traditional life insurance policies, group benefits policies and deposits on life contingent payout

annuities as well as deposits received on universal life, investment-type annuity contracts, GICs and mutual funds.

2)

Pre-tax operating income (loss) is derived by excluding the following items from pre-tax income (loss): legal settlements related to legacy crisis matters,

changes in fair values of fixed maturity securities designated to hedge living benefit liabilities (net of interest expense), net realized capital (gains) losses,

and changes in benefit reserves and DAC, VOBA, and SIA related to net realized capital (gains) losses.

3)

Includes intercompany invested assets that are eliminated in consolidation.

17

AIG Life and Retirement –

Diversified Business Mix

1)

Premiums and deposits includes amounts received on traditional life insurance policies, group benefits policies and deposits on life contingent payout

annuities as well as deposits received on universal life, investment-type annuity contracts, GICs and mutual funds.

2)

Pre-tax operating income (loss) is derived by excluding the following items from pre-tax income (loss): legal settlements related to legacy crisis matters,

changes in fair values of fixed maturity securities designated to hedge living benefit liabilities (net of interest expense), net realized capital (gains) losses,

and changes in benefit reserves and DAC, VOBA, and SIA related to net realized capital (gains) losses. Pre-tax operating income (loss) is not separately

presented

for

Brokerage

services

and

retail

mutual

funds

included

in

the

Retail

operating

segment

and

Group

benefits

included

in

the

Institutional

operating

segment,

which

collectively

represent

approximately

1%

of

total

AIG

Life

and

Retirement

pre-tax

operating

income.

Nine Months 2013

Premiums

and

Deposits

-

$20.8

billion

(1)

Retail: 69%

Institutional: 31%

Nine Months 2013

Pre-tax

Operating

Income

-

$3.7

billion

(2)

Retail: 63%

Institutional: 37%

Group

Retirement

23%

Institutional

Markets

13%

Retirement

Income

Solutions

12%

Fixed

Annuities

37%

Life Insurance

and A&H

14%

Retail Mutual

Funds &

Brokerage

Services

18%

Group

Retirement

25%

Institutional

Markets

3%

Retirement

Income

Solutions

29%

Fixed

Annuities

10%

Life Insurance

and A&H

12%

Group

Benefits

3%

18

AIG Life and Retirement –

Assets Under Management

Assets

Under

Management

-

$304.4

billion

at

September

30,

2013

Year-over-year growth in AUM reflects strong sales generated by robust demand for our retail products,

equity market performance and continued execution of our Institutional growth strategies.

19

AIG Life and Retirement –

Leading Market Positions

Note: All rankings represent six months 2013 LIMRA rankings

#3

in

Total

Annuity

Sales

#1

in Fixed-Rate Deferred Annuity Sales

#4

in

Structured

Settlement

Annuity

Sales

#6

in

Total

Variable

Annuity

Sales

#7

in

Term

Life

Sales

#2

in

K-12

403(b)

Assets

#3

in

Total

403(b)

Assets

Excellence in Service, Marketing and Technology

Market Tools

2013 Achievement in Customer

Excellence (ACE award for 7

Consecutive Year)

DALBAR

2012 Annuity Service Excellence

Award (6   Consecutive Year)

2012 #1 Ranking for Annuity Client

Quarterly Statements

(12

Consecutive Year)

PlanSponsor Magazine

2012 Best-in-Class Awards for

Participant Services (Recognized

in 6 Categories)

International MarCom Awards

2012 and 2013 Platinum and Gold

Awards (42 in total)

Insurance & Financial

Communications

Association

2012 and 2013 Best in Show and

Awards of Excellence (15 in total)

InformationWeek 500

2012 and 2013 Top Technology

Innovators

Best’s Review

2012 and 2013 Innovators

Showcase

Market Positions

th

th

th

20

AIG Life and Retirement –

Broad Multichannel Distribution Network

Affiliated: 43%

Non-affiliated: 57%

B-Ds

29%

Banks

13%

IMOs

11%

2012 Sales by Channel

Diversified Distribution Network

AGLA agents

Advisor Group

VALIC financial advisors

AIG Direct

Banks

Advisor Group

2%

AGLA

5%

Direct & Other

3%

VALIC FAs

33%

Broker-dealers

Independent marketing organizations

Benefit

Brokers

4%

Benefit Brokers

21

AIG Life and Retirement –

Variable Annuities

Changing competitive environment offers a unique opportunity.

Commentary

From 2009 through 2012, industry consolidation accelerated with the top four firms increasing their share from 53% to 64%.

Certain competitors pulled back on their product offerings in 2013, exemplified by their decreased market share for six months 2013.

AIG L&R has significantly grown its market share thereby improving its industry ranking from #15 in 2009 to #5 for six months 2013.

AIG L&R believes there is significant remaining growth opportunity in VA due to its market share of only 7.6%.

AIG L&R is further positioned for growth because of its manageable risk profile, characterized by only $21.2 billion in total individual VA contracts with

Guaranteed Minimum Withdrawal Benefits at September 30, 2013, 67% of which contain benefits with strong de-risking features

such

as

VIX

indexing

of

rider

fees,

volatility

control

funds

and

required

minimum

allocations

to

fixed

accounts

(2)

.

1)

Source: Morningstar VA Sales report.  VA non-captive industry sales data excludes captive agent & direct response distribution and a pro rata elimination of

internal

sales.

Rankings

use

most

current

data

from

Morningstar,

Inc.

and

can

reflect

updated

numbers

from

prior

periods.

2)

An additional $3.9 billion of group variable annuities (written by VALIC) have Guaranteed Minimum Withdrawal Benefits, 38% of which contain benefits with

strong de-risking features.

Variable

Annuity

“Non-Captive”

Industry

Sales

(1)

($

millions)

Six Months 2013

FY 2012

FY 2011

FY 2010

FY 2009

Rank

Sales

Share

Rank

Sales

Share

Rank

Sales

Share

Rank

Sales

Share

Rank

Sales

Share

Jackson National

1

10,280

21.9%

1

19,724

21.0%

3

17,494

17.0%

2

14,654

16.3%

3

10,002

12.4%

Lincoln Financial Group

2

7,134

15.2%

4

10,419

11.1%

4

9,323

9.0%

4

8,948

9.9%

4

7,928

9.8%

Prudential Financial

3

5,702

12.2%

2

17,853

19.0%

2

18,199

17.6%

1

19,845

22.1%

1

14,635

18.1%

MetLife

4

3,752

8.0%

3

11,818

12.6%

1

21,715

21.0%

3

12,889

14.3%

2

10,535

13.1%

AIG L&R

5

3,551

7.6%

6

4,561

4.9%

9

3,212

3.1%

11

2,072

2.3%

15

891

1.1%

TOTAL

46,867

93,832

103,201

89,950

80,687

22

AIG Life and Retirement –

Investment Composition & Ratings

1)

Includes intercompany invested assets that are eliminated in consolidation.

Total

Cash

&

Invested

Assets

-

$196.3

billion

(1)

Bond

Portfolio

-

$156.6

billion

(1)

-

by

Agency

Credit

Rating

(As of September 30, 2013)

23

AIG Life and Retirement –

Net Investment Spread Management

Base

Yields

(1)

Cost

of

Funds

(2)

Base

Net

Investment

Spreads

(1)

1)

Includes

the

investment

return

on

surplus

other

than

alternative

investment

and

yield

enhancement

activities.

2)

Excludes the amortization of sales inducement assets. At September 30, 2013, a total of 75% of fixed annuity

and universal life account values are at contractual minimum guaranteed crediting rates vs. 61% at December 31,

2012.

Mortgage Guaranty

(United Guaranty Corporation)

*

*

*

*

*

*

*

*

*

*

*

25

United Guaranty –

Financial Highlights

Full Year

Nine

Months

2013

($ in millions)

2010

2011

2012

Net premiums written

$756

$801

$858

$793

Net investment income

149

132

146

99

Pre-tax operating income (loss)

(1)

$353

$(97)

$9

$157

Combined ratio

79.1

128.9

119.2

90.4

Cash & invested assets

(2)

$4,486

$4,081

$4,222

$3,889

Shareholders’

equity

2,238

2,425

2,311

2,376

Shareholders’

equity, excluding AOCI

$2,186

$2,332

$2,193

$2,344

1)

Pre-tax

operating

income

(loss)

is

derived

by

excluding

net

realized

capital

(gains)

losses

from

pre-tax

income

(loss).

2)

Includes intercompany invested assets that are eliminated in consolidation.

26

United Guaranty –

A Market Leader

Risk based pricing driving profitable new business.

UGC’s risk-based pricing plan, Performance Premium, utilizes over a dozen variables to evaluate loan risk and price the

mortgage insurance policy.

New insurance written (NIW) increased 34% in 3Q13 compared with 3Q12. Nine months 2013 NIW increased 51% to $39.1

billion compared with nine months 2012. Growth accomplished while maintaining consistently high quality risk in force.

Vintage

Year

(1)

Average

FICO Score

LTV Ratio

2010

760

90

2011

757

91

2012

758

91

Nine Months

2013

754

92

New Insurance Written

($ in billions)

1)

Domestic First-lien only.

27

United Guaranty –

Shrinking Legacy In-Force

New business generated after 2008 represents 62% of primary domestic RIF at September 30, 2013, the highest among

peers

active

before

2009

(1)

.

Due to proactive management of delinquent book through UGC’s Letter Campaign, at September 30, 2013, the portion of

defaults

that

have

missed

12

or

more

payments

declined

to

44%

from

49%

at

the

end

of

2011,

the

lowest

among

peers

active

before

2009

(1)

.

Note: Data presented above is for Domestic First Lien operations.

1)

Peers

include

Mortgage

Guaranty

Insurance

Company

(MGIC),

Radian

Guaranty,

Incorporated

and

Genworth

Mortgage

Insurance

Company.

Primary Delinquency Rate

Primary Risk-in-force (RIF) –

$35.5 billion

As of September 30, 2013 (by vintage year)

2004 & Prior

8%

2005

6%

2006

6%

2007

12%

2008

6%

2009

3%

2010

3%

2011

9%

2012

23%

2013

24%

28

United Guaranty –

Financial Strength

UGC

has

the

lowest

default

rate

and

highest

portion

of

RIF

from

loans

originated

after

2008

among

peers

active

before

2009

(2)

.

UGC’s primary statutory insurance subsidiary, United Guaranty Residential Insurance Company (UGRIC), maintains an S&P

rating

of

BBB+

and

Moody's

rating

of

Baa1

with

stable

outlooks

(3)

.

UGC operating earnings reflect increasing contribution from new business.

At

September

30,

2013

UGRIC

has

over

$2.9

billion

of

assets

with

90%

in

cash

and

unaffiliated

investments.

Capitalization and Risk

Source: Statutory filing data.

1)

Risk-to-capital estimates for all companies, including United Guaranty, are preliminary estimates for September 30, 2013.

2)

Peers’

risk to capital ratios are those of their respective flagship insurance companies. Essent was not active before 2009.

3)

As of the date of this presentation.

At June 30, 2013

At Sept. 30, 2013

Default

Rate (%)

Post 2008

RIF (%)

Risk-to-

Capital

(1)

United Guaranty

6.4

62

18.6

Genworth

8.7

41

23.2

MGIC

11.5

39

20.0

Radian

7.8

57

19.8

Essent

0.1

100

18.0

Asset Composition

Capital Strength

*

*

*

*

*

*

*

*

*

*

30

Capital Position and Ratings

Book Value Per Share

Capital Structure

$66.38

1)

Includes AIG Notes, Bonds, Loans and Mortgages Payable, and AIGLH

Notes and Bonds Payable and junior subordinated debt.

2)

All ratings have stable outlooks, except for the S&P rating for AIG-Senior

Debt, which is negative, as of the date of this presentation.

3)

Ratings only reflect those of the core insurance companies.

($ in billions, except per share data)

$124.1

Leverage Ratios:

Dec. 31,

2012

Sept. 30,

2013

Financial Debt + Hybrids /

Capitalization

20.5%

17.6%

Financial Debt / Capitalization

12.9%

12.6%

$67.10

$120.7

$53.53

S&P

Moody’s

Fitch

AM Best

AIG –

Senior

Debt

A-

Baa1

BBB

NR

AIG PC

(3)

–

FSR

A+

A1

A

A

AIG L&R

(3)

–

FSR

A+

A2

A+

A

Credit

Ratings

(2)

31

Financial Flexibility –

A Source of Strength

AIG Parent Cash, Short-Term Investments &

Unencumbered Securities

Insurance Company Distributions

($ in millions)

($ in billions)

AIG Parent cash, short-term investments and unencumbered fixed maturity securities of $12.7 billion includes $5.9 billion allocated

toward

future

maturities

of

liabilities

and

contingent

liquidity

stress

needs

of

the

Direct

Investment

book

and

Global

Capital

Markets

as

of

September

30,

2013.

AIG

Parent

also

maintains

available

capacity

of

$4.1

billion

under

its

syndicated

credit

facility

and

contingent

liquidity

facility

as

of

September

30,

2013.

Other Sources of Value

*

*

*

*

*

*

*

*

*

*

33

Direct Investment Book

(1)

Global Capital Markets

(1)

Assets

$23.7

$8.0

Liabilities

$20.8

$3.4

Net Asset Value

$2.9

$4.6

Legacy Matched                            

Assets & Liabilities

Market

Derivatives

(2)

Legacy AIGFP                    Stable Value                      

CDS Portfolio

Wraps

Hedging

Platform

Third-Party

Derivatives

Notional ($ bn)

--

$80

Multi-

Sector

Corporate

Arbitrage

$8

$28

$3

$12

Weighted

Average Life

(Years)

--

6.9

5.8

2.5

4.8

8.3

Strategy

Assets managed to ensure

liabilities can be met as they

come due, even under stress

scenarios

Primarily hedges of

DIB assets and

liabilities          

Bulk of risk related

to interest rates,

foreign exchange

and equities has

been hedged

Remaining credit

risk viewed as

attractive risk-

reward

Since 4Q 2012,

notional value of

$10 billion has

been novated to

AIG Life and

Retirement

Further novations

are expected to

occur over time

“Clearing house”

for

operating company

hedging and risk

management needs

Direct Investment Book and Global Capital Markets

Note: Data as of September 30, 2013.

1)

The DIB consists of a portfolio of assets and liabilities held directly by AIG Parent in the Matched Investment Program (MIP) and certain subsidiaries not

related

to

AIG’s

core

insurance

operations

(including

certain

non-derivative

assets

and

liabilities

of

AIGFP).

The

DIB

and

GCM

are

included

in

Other

Operations in AIG’s Consolidated Balance Sheet.

2)

The overall hedging activity for the assets and liabilities of the DIB is executed by GCM. The value of hedges related to the non-derivative assets and

liabilities of AIGFP in the DIB is included within the assets and liabilities and operating results of GCM and is not included within the DIB operating results,

assets or liabilities. 

($ in billions)

AIG

Hedging

&

Go Forward

34

Direct Investment Book Long-Term Debt

($ in billions)

$8.2

$8.2

$6.7

$5.6

$4.4

$0.4

$3.5

$3.5

$3.5

$3.5

$3.5

$3.5

$0.2

$5.8

$5.7

$5.1

$4.5

$4.2

$3.9

$3.3

$1.2

$1.1

$1.1

$0.8

$0.6

$0.5

$0.3

$18.7

$18.5

$16.3

$14.5

$12.7

$8.3

$3.8

0%

1%

13%

23%

32%

55%

80%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

$0

$5

$10

$15

$20

$25

as of 9/30/2013

2013

2014

2015

2016

2017

2018

MIP notes payable

Series AIGFP matched notes and bonds payable

GIAs, at fair value

Notes and bonds payable, at fair value

% Maturing

35

Deferred Tax Asset Overview

AIG has substantial tax attribute carryforwards that are available under U.S. tax law to offset future U.S.

federal

income

tax

obligations.

Amounts

are

presented

on

a

U.S.

GAAP

basis.

As of 12/31/11

As of 12/31/12

($ in billions)

Type

Gross

Attributes

Deferred

Tax Asset

Gross

Attributes

Deferred

Tax Asset

Utilization/Limitations

Net

Operating

Loss

Carryforward

Non-Life

& Life

$45.2

$15.8

$39.5

$13.8

Use against AIG P&C, ILFC, UGC,

AIG L&R and AIG Parent income

Limited use (35%) against AIG L&R

taxable income; remainder applied

to FTC’s

2025–2031 Expiration

Capital Loss

Carryforward

Valuation

Allowance

Life

$20.8

$7.3

($7.2)

$16.6

$5.8

($5.1)

Can only apply against capital gains

from AIG L&R

2013–2014 Expiration

Foreign

Tax Credits

General

$4.2

$4.7

Limited to tax on lower of taxable

income or foreign source income

2015–2022 Expiration

Other

Deferred Tax

Liabilities

($1.8)

($2.5)

Net Deferred

Tax Assets

$18.3

$16.7

Appendix

*

*

*

*

*

*

*

*

*

*

37

AIG Consolidated Financial Highlights

1)

Computed as Annualized After-tax operating income divided by Average AIG Shareholders' equity, excluding AOCI.

Nine Months

($ in millions, except per share amounts)

2012

2013

Inc.

(Dec.)

Revenues

$50,440

$48,029

(5%)

Net income attributable to AIG

7,396

7,107

(4%)

After-tax operating income attributable to AIG

$6,345

$5,058

(20%)

Diluted earnings per common share:

Income from continuing operations

$4.05

$4.74

17%

Income from discontinued operations

$0.16

$0.06

(63%)

Net income attributable to AIG

$4.21

$4.80

14%

After-tax operating income attributable to AIG

$3.61

$3.41

(6%)

Book value per common share

$68.87

$67.10

(3%)

Book

value

per

common

share

-

Ex.

AOCI

$60.59

$62.68

3%

ROE

–

After-tax

operating

income

(1)

9.0%

7.6%

38

Non-GAAP Reconciliation –

Pre-tax Operating Income

39

Non-GAAP Reconciliation –

Full Year & Nine Months Pre-tax Operating

Income

Nine Months

2010

2011

2012

2013

Income from continuing operations, before tax

$                        (93)

$                       1,820

$                       1,837

$                    3,801

Adjustments to arrive at pre-tax operating income:

Net realized capital (gains) losses

38

(607)

2

(73)

Bargain purchase gain

(332)

-

-

-

Gain on sale of properties

(669)

-

-

-

Legal settlements

-

-

(17)

(3)

Other (income) loss

-

5

(2)

(7)

Pre-tax operating income

$                   (1,056)

$                       1,218

$                       1,820

$                    3,718

Nine Months

2010

2011

2012

2013

Income from continuing operations, before tax

$                    2,701

$                       2,956

$                       3,780

$                    4,530

Adjustments to arrive at pre-tax operating income:

Legal settlements

-

-

(154)

(467)

Changes in fair value of securities designated to hedge

living benefit liabilities, net of interest expense

-

-

(37)

128

Change in benefit reserves and DAC, VOBA and SIA

related to net realized capital (gains) losses

104

327

1,201

1,482

Net realized capital (gains) losses

1,251

(6)

(630)

(1,984)

Pre-tax operating income

$                    4,056

$                       3,277

$                       4,160

$                    3,689

Nine Months

2010

2011

2012

2013

Income from continuing operations, before tax

$                        397

$                           (77)

$                             15

$                        162

Adjustments to arrive at pre-tax operating income:

Net realized capital (gains) losses

(44)

(20)

(6)

(5)

Pre-tax operating income

$                        353

$                           (97)

$                               9

$                        157

United Guaranty

($ in millions)

Full Year

AIG Property Casualty

($ in millions)

Full Year

AIG Life and Retirement

($ in millions)

Full Year

40

Nine Months

($ in millions)

2012

2013

Net income attributable to AIG

$7,396

$7,107

Income from discontinued operations, net of income tax expense

(280)

(84)

Net losses on sale of divested businesses

2

31

Uncertain tax positions and other tax adjustments

343

726

Legal reserves (settlements) related to legacy crisis matters

482

(61)

Deferred income tax valuation allowance releases

(1,795)

(2,697)

Changes

in

fair

values

of

AIG

Life

and

Retirement

fixed

maturity

securities  

designated to hedge living benefit liabilities, net of interest expense

(31)

83

Change in benefit reserves and DAC, VOBA and SIA related to net

realized capital gains

729

1,065

Loss on extinguishment of debt

6

298

Net realized capital gains

(489)

(1,410)

Non-qualifying derivative hedging gains, excluding net realized

capital gains

(18)

-

After-tax operating income attributable to AIG

$6,345

$5,058

Non-GAAP Reconciliation –

After-tax operating income

41

Non-GAAP Reconciliation –

BVPS ex. AOCI, Premiums &

Deposits, Accident Year Combined Ratio, As Adjusted

2011

2012

2012

2013

Total AIG shareholders’ equity

101,538

$           

98,002

$               

101,666

$             

98,793

$             

Less: AOCI

(6,481)

(12,574)

(12,215)

(6,509)

Total AIG shareholders’ equity, excluding AOCI

95,057

$             

85,428

$               

89,451

$               

92,284

$             

Total common shares outstanding

1,896,821,482

1,476,321,935

1,476,295,743

1,472,343,722

Book value per common share

53.53

$              

66.38

$                 

68.87

$                 

67.10

$              

Book value per common share, excluding AOCI

50.11

$              

57.87

$                 

60.59

$                 

62.68

$              

Nine Months

2010

2011

2012

2013

Premiums and deposits

19,505

$             

24,392

$                

20,994

$                

20,767

$             

Deposits

(16,405)

(21,338)

(17,934)

(18,304)

Other

(580)

(541)

(632)

(473)

Premiums

2,520

$              

2,513

$                  

2,428

$                  

1,990

$              

Nine Months

2010

2011

2012

2013

Loss ratio

85.7

78.3

73.9

66.2

Catastrophe losses and reinstatement premiums

(3.3)

(9.2)

(7.5)

(2.3)

Prior year development net of premium adjustments

(14.9)

(0.3)

(1.4)

(0.9)

Change in discount

1.7

(0.1)

0.2

(0.1)

Accident year loss ratio, as adjusted

69.2

68.7

65.2

62.9

Acquisition ratio

18.3

18.1

19.9

19.8

General operating expense ratio

12.8

12.4

14.8

14.5

Expense ratio

31.1

30.5

34.7

34.3

Combined ratio

116.8

108.8

108.6

100.5

Catastrophe losses and reinstatement premiums

(3.3)

(9.2)

(7.5)

(2.3)

Prior year development net of premium adjustments

(14.9)

(0.3)

(1.4)

(0.9)

Change in discount

1.7

(0.1)

0.2

(0.1)

Accident year combined ratio, as adjusted

100.3

99.2

99.9

97.2

December 31,

September 30,

AIG Property Casualty

Accident Year Combined Ratio, As Adjusted

AIG Life and Retirement Premiums and Deposits

($ in millions)

Book Value Per Common Share - Ex. AOCI

($ in millions, except per share data)

Full Year

Full Year

*

*

*

*

*

*

*

*

*

*