AMERICAN INTERNATIONAL GROUP INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
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Business Segment Operations
Our business operations consist of General Insurance, Life and Retirement and Other Operations.
General Insurance consists of two operating segments: North America and International. Life and Retirement consists of four operating segments: Individual Retirement, Group Retirement, Life Insurance and Institutional Markets. Other Operations is primarily comprised of corporate, our institutional asset management business and consolidation and eliminations.
The following table summarizes Adjusted pre-tax income (loss) from our business segment operations. See also Note 3 to the Consolidated Financial Statements.
| Years Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2023 | 2022 | 2021 |
| General Insurance | |||
| North America - Underwriting income (loss) | $1,207 | $648 | $(47) |
| International - Underwriting income | 1,142 | 1,400 | 1,102 |
| Net investment income | 3,022 | 2,382 | 3,304 |
| General Insurance | 5,371 | 4,430 | 4,359 |
| Life and Retirement | |||
| Individual Retirement | 2,310 | 1,676 | 2,297 |
| Group Retirement | 758 | 786 | 1,258 |
| Life Insurance | 358 | 521 | 453 |
| Institutional Markets | 379 | 334 | 546 |
| Life and Retirement | 3,805 | 3,317 | 4,554 |
| Other Operations | |||
| Other Operations before consolidation and eliminations | (1,765) | (1,542) | (1,418) |
| Consolidation and eliminations | (10) | (405) | (932) |
| Other Operations | (1,775) | (1,947) | (2,350) |
| Adjusted pre-tax income | $7,401 | $5,800 | $6,563 |
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