10-K
Annual Report
American International Group, Inc.
AIG PRA
NYSE
CIK: 5272
File #: 1-8787
Balance Sheet
375 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
Assets: | ||
Investments: | ||
Fixed maturity securities: | ||
Bonds available for sale, at fair value, net of allowance for credit losses of $162 in 2023 and $186 in 2022 (amortized cost: 2023 - $253,035; 2022 - $255,993)* | 231,733,000,000 | 226,156,000,000 |
Level 1 - Recurring Basis - U.S. government and government sponsored entities | 35,000,000 | 25,000,000 |
Level 2 - Recurring Basis - U.S. government and government sponsored entities | 5,581,000,000 | 6,594,000,000 |
Level 3 - Recurring Basis - U.S. government and government sponsored entities | 0 | 0 |
Levels 1, 2 and 3 - Recurring Basis - U.S. government and government sponsored entities | 5,616,000,000 | 6,619,000,000 |
Level 1 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 0 | 0 |
Level 2 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 9,816,000,000 | 11,275,000,000 |
Level 3 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 847,000,000 | 824,000,000 |
Levels 1, 2 and 3 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 10,663,000,000 | 12,099,000,000 |
Level 1 - Recurring Basis - Non-U.S. governments | 233,000,000 | 158,000,000 |
Level 2 - Recurring Basis - Non-U.S. governments | 12,213,000,000 | 13,326,000,000 |
Level 3 - Recurring Basis - Non-U.S. governments | 7,000,000 | 1,000,000 |
Levels 1, 2 and 3 - Recurring Basis - Non-U.S. governments | 12,453,000,000 | 13,485,000,000 |
Level 1 - Recurring Basis - Corporate debt | 0 | 0 |
Level 2 - Recurring Basis - Corporate debt | 136,753,000,000 | 134,992,000,000 |
Level 3 - Recurring Basis - Corporate debt | 1,679,000,000 | 2,847,000,000 |
Levels 1, 2 and 3 - Recurring Basis - Corporate debt | 138,432,000,000 | 137,839,000,000 |
Level 1 - Recurring Basis - RMBS | 0 | 0 |
Level 2 - Recurring Basis - RMBS | 12,804,000,000 | 11,264,000,000 |
Level 3 - Recurring Basis - RMBS | 7,640,000,000 | 7,553,000,000 |
Levels 1, 2 and 3 - Recurring Basis - RMBS | 20,444,000,000 | 18,817,000,000 |
Level 1 - Recurring Basis - CMBS | 0 | 0 |
Level 2 - Recurring Basis - CMBS | 13,495,000,000 | 13,267,000,000 |
Level 3 - Recurring Basis - CMBS | 633,000,000 | 926,000,000 |
Levels 1, 2 and 3 - Recurring Basis - CMBS | 14,128,000,000 | 14,193,000,000 |
Level 1 - Recurring Basis - CLO/ABS | 0 | 0 |
Level 2 - Recurring Basis - CLO/ABS | 13,959,000,000 | 10,356,000,000 |
Level 3 - Recurring Basis - CLO/ABS | 16,038,000,000 | 12,748,000,000 |
Levels 1, 2 and 3 - Recurring Basis - CLO/ABS | 29,997,000,000 | 23,104,000,000 |
Level 1 - Recurring Basis | 268,000,000 | 183,000,000 |
Level 2 - Recurring Basis | 204,621,000,000 | 201,074,000,000 |
Level 3 - Recurring Basis | 26,844,000,000 | 24,899,000,000 |
Levels 1, 2 and 3 - Recurring Basis | 231,733,000,000 | 226,156,000,000 |
Level 3 - Obligations of states, municipalities and political subdivisions | 824,000,000 | 799,000,000 |
Level 3 - Corporate debt | 1,803,000,000 | 2,527,000,000 |
Level 3 - RMBS | 4,656,000,000 | 5,235,000,000 |
Level 3 - CLO/ABS | 14,242,000,000 | 7,503,000,000 |
Level 3 - CMBS | 587,000,000 | 587,000,000 |
Level 3 - Market risk benefit assets | 912,000,000 | 796,000,000 |
U.S. government and government sponsored entities | 5,616,000,000 | 6,619,000,000 |
Obligations of states, municipalities and political subdivisions | 10,663,000,000 | 12,099,000,000 |
Non-U.S. governments | 12,453,000,000 | 13,485,000,000 |
Corporate debt | 138,432,000,000 | 137,839,000,000 |
RMBS | 20,444,000,000 | 18,817,000,000 |
CMBS | 14,128,000,000 | 14,193,000,000 |
CLO/ABS | 29,997,000,000 | 23,104,000,000 |
Mortgage-backed, asset-backed and collateralized | 64,569,000,000 | 56,114,000,000 |
Non-Investment Grade | 17,100,000,000 | 22,300,000,000 |
Fortitude Holdings - Carrying Value | 17,384,000,000 | 18,821,000,000 |
Fortitude Holdings - Estimated Fair Value | 17,384,000,000 | 18,821,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 36,000,000 | 0 |
Consolidated VIE - Securitization Vehicles | 148,000,000 | 3,672,000,000 |
Consolidated VIE | 184,000,000 | 3,672,000,000 |
Other bond securities, at fair value (See Note 5) | 5,241,000,000 | 4,485,000,000 |
Level 1 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 0 | 0 |
Level 2 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 90,000,000 | 111,000,000 |
Level 3 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 1,000,000 | 0 |
Levels 1, 2 and 3 - Recurring Basis - Obligations of states, municipalities and political subdivisions | 91,000,000 | 111,000,000 |
Level 1 - Recurring Basis - Non-U.S. governments | 0 | 0 |
Level 2 - Recurring Basis - Non-U.S. governments | 37,000,000 | 66,000,000 |
Level 3 - Recurring Basis - Non-U.S. governments | 0 | 0 |
Levels 1, 2 and 3 - Recurring Basis - Non-U.S. governments | 37,000,000 | 66,000,000 |
Level 1 - Recurring Basis - Corporate debt | 0 | 0 |
Level 2 - Recurring Basis - Corporate debt | 2,697,000,000 | 1,976,000,000 |
Level 3 - Recurring Basis - Corporate debt | 211,000,000 | 416,000,000 |
Levels 1, 2 and 3 - Recurring Basis - Corporate debt | 2,908,000,000 | 2,392,000,000 |
Level 1 - Recurring Basis - RMBS | 0 | 0 |
Level 2 - Recurring Basis - RMBS | 105,000,000 | 113,000,000 |
Level 3 - Recurring Basis - RMBS | 158,000,000 | 173,000,000 |
Levels 1, 2 and 3 - Recurring Basis - RMBS | 263,000,000 | 286,000,000 |
Level 1 - Recurring Basis - CMBS | 0 | 0 |
Level 2 - Recurring Basis - CMBS | 244,000,000 | 303,000,000 |
Level 3 - Recurring Basis - CMBS | 17,000,000 | 28,000,000 |
Levels 1, 2 and 3 - Recurring Basis - CMBS | 261,000,000 | 331,000,000 |
Level 1 - Recurring Basis - CLO/ABS | 0 | 0 |
Level 2 - Recurring Basis - CLO/ABS | 512,000,000 | 389,000,000 |
Level 3 - Recurring Basis - CLO/ABS | 1,169,000,000 | 910,000,000 |
Levels 1, 2 and 3 - Recurring Basis - CLO/ABS | 1,681,000,000 | 1,299,000,000 |
Level 1 - Recurring Basis | 0 | 0 |
Level 2 - Recurring Basis | 3,685,000,000 | 2,958,000,000 |
Level 3 - Recurring Basis | 1,556,000,000 | 1,527,000,000 |
Levels 1, 2 and 3 - Recurring Basis | 5,241,000,000 | 4,485,000,000 |
Obligations of states, municipalities and political subdivisions - Available for sale fixed maturity securities, including short-term investments | 91,000,000 | 111,000,000 |
Non-U.S. governments - Available for sale fixed maturity securities, including short-term investments | 37,000,000 | 66,000,000 |
Corporate debt - Available for sale fixed maturity securities, including short-term investments | 2,908,000,000 | 2,392,000,000 |
RMBS - Available for sale fixed maturity securities, including short-term investments | 263,000,000 | 286,000,000 |
CMBS - Available for sale fixed maturity securities, including short-term investments | 261,000,000 | 331,000,000 |
CLO/ABS - Available for sale fixed maturity securities, including short-term investments | 1,681,000,000 | 1,299,000,000 |
Mortgage-backed, asset-backed and collateralized - Available for sale fixed maturity securities, including short-term investments | 2,205,000,000 | 1,916,000,000 |
Available for sale fixed maturity securities, including short-term investments | 5,241,000,000 | 4,485,000,000 |
Fortitude Holdings - Carrying Value | 4,867,000,000 | 4,182,000,000 |
Fortitude Holdings - Estimated Fair Value | 4,867,000,000 | 4,182,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 45,000,000 | — |
Consolidated VIE - Securitization Vehicles | 0 | — |
Consolidated VIE | 45,000,000 | — |
Equity securities, at fair value (See Note 5) | 728,000,000 | 575,000,000 |
Level 1 - Recurring Basis | 632,000,000 | 518,000,000 |
Level 2 - Recurring Basis | 40,000,000 | 18,000,000 |
Level 3 - Recurring Basis | 56,000,000 | 39,000,000 |
Levels 1, 2 and 3 - Recurring Basis | 728,000,000 | 575,000,000 |
Equity securities | 728,000,000 | 575,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 8,000,000 | 51,000,000 |
Consolidated VIE - Securitization Vehicles | 0 | 0 |
Consolidated VIE | 8,000,000 | 51,000,000 |
Mortgage and other loans receivable, net of allowance for credit losses of $38,473 in 2023 and $38,351 in 2022* | 51,553,000,000 | 49,605,000,000 |
Level 1 - Estimated Fair Value | 0 | 0 |
Level 2 - Estimated Fair Value | 272,000,000 | 89,000,000 |
Level 3 - Estimated Fair Value | 48,264,000,000 | 45,755,000,000 |
Estimated Fair Value | 48,536,000,000 | 45,844,000,000 |
Carrying Value | 51,553,000,000 | 49,442,000,000 |
Excluding AIGFP Operating | 51,553,000,000 | 49,605,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 0 | 0 |
Consolidated VIE - Securitization Vehicles | 2,063,000,000 | 2,221,000,000 |
Consolidated VIE | 2,063,000,000 | 2,221,000,000 |
Other invested assets (portion measured at fair value: 2023 - $11,733; 2022 - $12,042)* | 16,217,000,000 | 15,953,000,000 |
Recurring Basis | 11,733,000,000 | 12,042,000,000 |
Direct private equity | 10,600,000,000 | 10,400,000,000 |
Level 1 - Fair value on a non-recurring basis | 0 | 0 |
Level 2 - Fair value on a non-recurring basis | 0 | 0 |
Level 3 - Fair value on a non-recurring basis | 80,000,000 | 12,000,000 |
Fair value on a non-recurring basis | 80,000,000 | 12,000,000 |
Level 1 - Estimated Fair Value | 0 | 0 |
Level 2 - Estimated Fair Value | 913,000,000 | 848,000,000 |
Level 3 - Estimated Fair Value | 6,000,000 | 6,000,000 |
Estimated Fair Value | 919,000,000 | 854,000,000 |
Carrying Value | 919,000,000 | 854,000,000 |
Hedge Funds | 700,000,000 | 1,400,000,000 |
Fortitude Re Funds Withheld Assets | 156,000,000 | 156,000,000 |
DaVinciRe Holdings Ltd | 300,000,000 | — |
Unconsolidated VIE | 9,100,000,000 | 9,300,000,000 |
Parent Company | 758,000,000 | 1,930,000,000 |
Short-term investments, including restricted cash of $4 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $10,772; 2022 - $5,708)* | 17,200,000,000 | 12,376,000,000 |
Recurring Basis | 10,772,000,000 | 5,708,000,000 |
Level 1 - Recurring Basis | 2,635,000,000 | 2,821,000,000 |
Level 2 - Recurring Basis | 8,137,000,000 | 2,887,000,000 |
Level 3 - Recurring Basis | 0 | 0 |
Levels 1, 2 and 3 - Recurring Basis | 10,772,000,000 | 5,708,000,000 |
Level 1 - Estimated Fair Value | 0 | 0 |
Level 2 - Estimated Fair Value | 6,428,000,000 | 6,668,000,000 |
Level 3 - Estimated Fair Value | 0 | 0 |
Estimated Fair Value | 6,428,000,000 | 6,668,000,000 |
Carrying Value | 6,428,000,000 | 6,668,000,000 |
Assets held-for-sale - Carrying Value | 11,000,000 | — |
Fortitude Holdings - Carrying Value | 176,000,000 | 75,000,000 |
Fortitude Holdings - Estimated Fair Value | 176,000,000 | 75,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 125,000,000 | 191,000,000 |
Consolidated VIE - Securitization Vehicles | 10,000,000 | 281,000,000 |
Consolidated VIE | 135,000,000 | 472,000,000 |
Parent Company | 7,782,000,000 | 3,389,000,000 |
Total investments | 322,672,000,000 | 309,150,000,000 |
Parent Company | 8,540,000,000 | 5,319,000,000 |
Cash | 2,155,000,000 | 2,043,000,000 |
Level 1 - Estimated Fair Value | 2,155,000,000 | 2,043,000,000 |
Level 2 - Estimated Fair Value | 0 | 0 |
Level 3 - Estimated Fair Value | 0 | 0 |
Estimated Fair Value | 2,155,000,000 | 2,043,000,000 |
Carrying Value | 2,155,000,000 | 2,043,000,000 |
Assets held-for-sale - Carrying Value | 3,000,000 | — |
Consolidated VIE - Real Estate and Investment Entities | 61,000,000 | 71,000,000 |
Consolidated VIE - Securitization Vehicles | 0 | 0 |
Consolidated VIE | 61,000,000 | 71,000,000 |
Parent Company | 10,000,000 | 5,000,000 |
Accrued investment income | 2,588,000,000 | 2,376,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 2,000,000 | 0 |
Consolidated VIE - Securitization Vehicles | 7,000,000 | 9,000,000 |
Consolidated VIE | 9,000,000 | 9,000,000 |
Premiums and other receivables, net of allowance for credit losses and disputes of $139 in 2023 and $169 in 2022 | 10,561,000,000 | 13,243,000,000 |
Fortitude RE | 30,612,000,000 | 30,751,000,000 |
Excluding Fortitude | 36,914,000,000 | 38,971,000,000 |
As Previously Reported - Fortitude RE | — | 32,159,000,000 |
Cumulative effect adjustments - Fortitude RE | — | (1,408,000,000) |
As Previously Reported - Excluding Fortitude | — | 39,434,000,000 |
Cumulative effect adjustments - Excluding Fortitude | — | (463,000,000) |
Deferred income taxes | 14,445,000,000 | 14,804,000,000 |
Parent Company | 4,566,000,000 | 4,992,000,000 |
As Previously Reported | — | 15,144,000,000 |
Cumulative effect adjustments | — | (340,000,000) |
Deferred policy acquisition costs | 12,085,000,000 | 12,857,000,000 |
As Previously Reported | — | 15,518,000,000 |
Cumulative effect adjustments | — | (2,661,000,000) |
Market risk benefit assets, at fair value | 912,000,000 | 796,000,000 |
Recurring Basis | 912,000,000 | 796,000,000 |
Level 1 - Recurring Basis | 0 | 0 |
Level 2 - Recurring Basis | 0 | 0 |
Level 3 - Recurring Basis | 912,000,000 | 796,000,000 |
As Previously Reported | — | 0 |
Cumulative effect adjustments | — | 796,000,000 |
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $45 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $754; 2022 - $621)* | 13,089,000,000 | 12,384,000,000 |
Recurring Basis | 754,000,000 | 621,000,000 |
Level 1 - Estimated Fair Value | 45,000,000 | 24,000,000 |
Level 2 - Estimated Fair Value | 0 | 9,000,000 |
Level 3 - Estimated Fair Value | 0 | 0 |
Estimated Fair Value | 45,000,000 | 33,000,000 |
Carrying Value | 45,000,000 | 33,000,000 |
Fortitude Holdings - Carrying Value | 758,000,000 | 782,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 94,000,000 | 102,000,000 |
Consolidated VIE - Securitization Vehicles | 2,000,000 | 70,000,000 |
Consolidated VIE | 96,000,000 | 172,000,000 |
Parent Company | 909,000,000 | 250,000,000 |
As Previously Reported | — | 12,714,000,000 |
Cumulative effect adjustments | — | (330,000,000) |
Separate account assets, at fair value | 91,005,000,000 | 84,853,000,000 |
Level 1 - Recurring Basis | 87,814,000,000 | 81,655,000,000 |
Level 2 - Recurring Basis | 3,191,000,000 | 3,198,000,000 |
Level 3 - Recurring Basis | 0 | 0 |
Levels 1, 2 and 3 - Recurring Basis | 91,005,000,000 | 84,853,000,000 |
Assets held for sale | 2,268,000,000 | 0 |
Assets held-for-sale - AIG Life | 2,143,000,000 | — |
Assets held-for-sale - Other | 125,000,000 | — |
Assets held-for-sale | 2,268,000,000 | — |
Total assets | 539,306,000,000 | 522,228,000,000 |
General Insurance - Reportable Subsegments | 139,371,000,000 | 147,083,000,000 |
Life and Retirement - Reportable Subsegments | 375,197,000,000 | 352,694,000,000 |
Other Operations - Reportable Subsegments | 24,738,000,000 | 22,451,000,000 |
Equity Method Investee | 59,359,000,000 | 134,435,000,000 |
Fortitude Holdings - Carrying Value | 29,575,000,000 | 30,438,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 4,554,000,000 | 4,988,000,000 |
Consolidated VIE - Securitization Vehicles | 2,230,000,000 | 6,253,000,000 |
Consolidated VIE | 6,784,000,000 | 11,241,000,000 |
Unconsolidated VIE - Securitization Vehicles | 3,600,000,000 | — |
Unconsolidated VIE - Real Estate and Investment Entities | 9,125,000,000 | 9,145,000,000 |
Unconsolidated VIE - Other Investment Companies | 58,000,000 | 247,000,000 |
Unconsolidated VIE | 9,183,000,000 | 9,392,000,000 |
Unconsolidated VIE - RMBS, CMBS, Oher ABS, And CLOs | 3,000,000,000 | — |
Parent Company | 58,802,000,000 | 57,026,000,000 |
As Previously Reported | — | 526,634,000,000 |
Cumulative effect adjustments | — | (4,406,000,000) |
Liabilities: | ||
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022 | 70,393,000,000 | 75,167,000,000 |
U.S. Workers' Compensation (before discount) - Reportable Subsegments | 9,091,000,000 | — |
U.S. Excess Casualty - Reportable Subsegments | 6,593,000,000 | — |
U.S. Other Casualty - Reportable Subsegments | 7,788,000,000 | — |
U.S. Financial Lines - Reportable Subsegments | 7,294,000,000 | — |
U.S. Property and Special Risks - Reportable Subsegments | 5,897,000,000 | — |
U.S. Personal Insurance - Reportable Subsegments | 2,930,000,000 | — |
UK/Europe Casualty and Financial lines - Reportable Subsegments | 9,398,000,000 | — |
UK/Europe Property and Special Risks - Reportable Subsegments | 4,578,000,000 | — |
UK/Europe and Japan Personal Insurance - Reportable Subsegments | 2,154,000,000 | — |
Reportable Subsegments | 55,723,000,000 | — |
Reconciling Items - Discount on workers' compensation lines | (2,337,000,000) | — |
Reconciling Items - Other Product Lines | 14,739,000,000 | — |
Reconciling Items - Unallocated loss adjustment expenses | 2,268,000,000 | — |
Unearned premiums | 17,387,000,000 | 18,338,000,000 |
Future policy benefits for life and accident and health insurance contracts | 58,576,000,000 | 51,914,000,000 |
Reportable Segments - Universal Life - Life and Retirement - Life Insurance | 3,731,000,000 | 3,300,000,000 |
Other Operations before consolidation and eliminations - Universal Life | 55,000,000 | 55,000,000 |
Universal Life | 3,786,000,000 | 3,355,000,000 |
As Previously Reported | — | 59,223,000,000 |
Cumulative effect adjustments | — | (7,309,000,000) |
Life and Retirement | — | 51,914,000,000 |
Policyholder contract deposits (portion measured at fair value: 2023 - $7,997; 2022 - $5,408) | 161,979,000,000 | 155,984,000,000 |
Recurring Basis | 7,997,000,000 | 5,408,000,000 |
Level 1 - Recurring Basis | 0 | 0 |
Level 2 - Recurring Basis | 55,000,000 | 41,000,000 |
Level 3 - Recurring Basis | 7,942,000,000 | 5,367,000,000 |
Levels 1, 2 and 3 - Recurring Basis | 7,997,000,000 | 5,408,000,000 |
Level 3 | 1,500,000,000 | 1,100,000,000 |
Life and Retirement | 161,979,000,000 | 155,984,000,000 |
Life and Retirement - Individual Retirement | 93,467,000,000 | 87,418,000,000 |
Life and Retirement - Group Retirement | 41,069,000,000 | 43,076,000,000 |
Life and Retirement - Life Insurance | 10,439,000,000 | 10,258,000,000 |
Life and Retirement - Institutional Markets | 13,742,000,000 | 11,718,000,000 |
Life and Retirement - Other | 3,262,000,000 | 3,514,000,000 |
As Previously Reported | — | 158,891,000,000 |
Cumulative effect adjustments | — | (2,907,000,000) |
Market risk benefit liabilities, at fair value | 5,705,000,000 | 4,736,000,000 |
Recurring Basis | 5,705,000,000 | 4,736,000,000 |
Level 1 - Recurring Basis | 0 | 0 |
Level 2 - Recurring Basis | 0 | 0 |
Level 3 - Recurring Basis | 5,705,000,000 | 4,736,000,000 |
As Previously Reported | — | 0 |
Cumulative effect adjustments | — | 4,736,000,000 |
Other policyholder funds | 3,356,000,000 | 3,463,000,000 |
As Previously Reported | — | 3,909,000,000 |
Cumulative effect adjustments | — | (446,000,000) |
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,226); 2022 - $(2,235)) | 29,484,000,000 | 30,383,000,000 |
Recurring Basis | 1,226,000,000 | 2,235,000,000 |
Level 1 - Estimated Fair Value | 0 | 0 |
Level 2 - Estimated Fair Value | 0 | 0 |
Level 3 - Estimated Fair Value | 30,710,000,000 | 32,618,000,000 |
Estimated Fair Value | 30,710,000,000 | 32,618,000,000 |
Carrying Value | 30,710,000,000 | 32,618,000,000 |
Level 1 - Recurring Basis | — | 0 |
Level 2 - Recurring Basis | — | 0 |
Level 3 - Recurring Basis | — | 2,235,000,000 |
Levels 1, 2 and 3 - Recurring Basis | — | 2,235,000,000 |
Other liabilities (portion measured at fair value: 2023 - $624; 2022 - $343)* | 25,958,000,000 | 26,757,000,000 |
Level 1 - Estimated Fair Value | 0 | 0 |
Level 2 - Estimated Fair Value | 2,467,000,000 | 3,101,000,000 |
Level 3 - Estimated Fair Value | 0 | 0 |
Estimated Fair Value | 2,467,000,000 | 3,101,000,000 |
Carrying Value | 2,467,000,000 | 3,101,000,000 |
Assets held-for-sale - Carrying Value | 45,000,000 | — |
Consolidated VIE - Real Estate and Investment Entities | 82,000,000 | 85,000,000 |
Consolidated VIE - Securitization Vehicles | 1,000,000 | 47,000,000 |
Consolidated VIE | 83,000,000 | 132,000,000 |
As Previously Reported | — | 26,456,000,000 |
Cumulative effect adjustments | — | 301,000,000 |
Short-term and long-term debt | 22,387,000,000 | 27,179,000,000 |
Consolidated Entities, Excluding Consolidated Investments | 19,796,000,000 | 21,299,000,000 |
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary | 2,591,000,000 | 5,880,000,000 |
Consolidated Entities, Excluding Consolidated Investments - Level 1 - Estimated Fair Value | 0 | 0 |
Consolidated Entities, Excluding Consolidated Investments - Level 2 - Estimated Fair Value | 18,595,000,000 | 19,328,000,000 |
Consolidated Entities, Excluding Consolidated Investments - Level 3 - Estimated Fair Value | 267,000,000 | 275,000,000 |
Consolidated Entities, Excluding Consolidated Investments - Estimated Fair Value | 18,862,000,000 | 19,603,000,000 |
Consolidated Entities, Excluding Consolidated Investments - Carrying Value | 19,743,000,000 | 21,243,000,000 |
Separate account liabilities | 91,005,000,000 | 84,853,000,000 |
Life and Retirement | 91,005,000,000 | 84,853,000,000 |
Life and Retirement - Individual Retirement | 47,893,000,000 | 45,178,000,000 |
Life and Retirement - Group Retirement | 38,188,000,000 | 34,361,000,000 |
Life and Retirement - Life Insurance | 932,000,000 | 799,000,000 |
Life and Retirement - Institutional Markets | 3,992,000,000 | 4,515,000,000 |
Liabilities held for sale | 1,775,000,000 | 0 |
Assets held-for-sale - AIG Life | 1,746,000,000 | — |
Assets held-for-sale - Other | 29,000,000 | — |
Assets held-for-sale | 1,775,000,000 | — |
Total liabilities | 488,005,000,000 | 478,774,000,000 |
Equity Method Investee | 5,893,000,000 | 14,701,000,000 |
Consolidated VIE - Real Estate and Investment Entities | 1,176,000,000 | 1,443,000,000 |
Consolidated VIE - Securitization Vehicles | 1,107,000,000 | 4,383,000,000 |
Consolidated VIE | 2,283,000,000 | 5,826,000,000 |
Unconsolidated VIE - Securitization Vehicles | 3,100,000,000 | — |
Parent Company | 13,451,000,000 | 16,056,000,000 |
As Previously Reported | — | 484,399,000,000 |
Cumulative effect adjustments | — | (5,625,000,000) |
AIG shareholders’ equity: | ||
Series A non-cumulative preferred stock and additional paid in capital, $5.00 par value; 100,000,000 shares authorized; shares issued: 2023 - 20,000 and 2022 - 20,000; liquidation preference $500 | 485,000,000 | 485,000,000 |
Parent Company | 485,000,000 | 485,000,000 |
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2023 - 1,906,671,492 and 2022 - 1,906,671,492 | 4,766,000,000 | 4,766,000,000 |
Parent Company | 4,766,000,000 | 4,766,000,000 |
Treasury stock, at cost; 2023 - 1,217,831,721 shares; 2022 - 1,172,543,436 shares of common stock | 59,189,000,000 | 56,473,000,000 |
Additional paid-in capital | 75,810,000,000 | 79,915,000,000 |
Parent Company | 75,810,000,000 | 79,915,000,000 |
As Previously Reported | — | 80,284,000,000 |
Cumulative effect adjustments | — | (369,000,000) |
Retained earnings | 37,516,000,000 | 34,893,000,000 |
Parent Company | 37,516,000,000 | 34,893,000,000 |
As Previously Reported | — | 33,032,000,000 |
Cumulative effect adjustments | — | 1,861,000,000 |
Accumulated other comprehensive loss | (14,037,000,000) | (22,616,000,000) |
Parent Company | (14,037,000,000) | (22,616,000,000) |
As Previously Reported | — | (22,092,000,000) |
Cumulative effect adjustments | — | (524,000,000) |
Total AIG shareholders’ equity | 45,351,000,000 | 40,970,000,000 |
Parent Company | 45,351,000,000 | 40,970,000,000 |
As Previously Reported | — | 40,002,000,000 |
Cumulative effect adjustments | — | 968,000,000 |
Non-redeemable noncontrolling interests | 5,950,000,000 | 2,484,000,000 |
As Previously Reported | — | 2,233,000,000 |
Cumulative effect adjustments | — | 251,000,000 |
Total equity | 51,301,000,000 | 43,454,000,000 |
Preferred Stock and Additional Paid-in Capital | 485,000,000 | 485,000,000 |
Common Stock | 4,766,000,000 | 4,766,000,000 |
Treasury Stock | (59,189,000,000) | (56,473,000,000) |
Additional Paid-in Capital | 75,810,000,000 | 79,915,000,000 |
Retained Earnings | 37,516,000,000 | 34,893,000,000 |
Total | (14,037,000,000) | (22,616,000,000) |
Total AIG Shareholders' Equity | 45,351,000,000 | 40,970,000,000 |
Non- redeemable Non- controlling Interests | 5,950,000,000 | 2,484,000,000 |
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken | (106,000,000) | (136,000,000) |
Unrealized appreciation (depreciation) of all other investments | (10,888,000,000) | (20,675,000,000) |
Change in Fair Value of Market Risk Benefits Attributable to Changes in Our Own Credit Risk | (476,000,000) | (284,000,000) |
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts | 1,233,000,000 | 2,459,000,000 |
Foreign Currency Translation Adjustments | (2,979,000,000) | (3,056,000,000) |
Change in retirement plan liabilities adjustment | (821,000,000) | (924,000,000) |
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Our Own Credit Risk | 0 | 0 |
As Previously Reported | — | 42,235,000,000 |
Cumulative effect adjustments | — | 1,219,000,000 |
Total liabilities and equity | 539,306,000,000 | 522,228,000,000 |
Parent Company | 58,802,000,000 | 57,026,000,000 |
As Previously Reported | — | 526,634,000,000 |
Cumulative effect adjustments | — | (4,406,000,000) |