AMERICAN INTERNATIONAL GROUP INC

The preparation of financial statements in accordance with GAAP requires the application of accounting policies that often involve a significant degree of judgment.

The accounting policies that we believe are most dependent on the application of estimates and assumptions, which are critical accounting estimates, are related to the determination of:

•loss reserves;•valuation of future policy benefit liabilities and recognition of measurement gains and losses;•valuation of MRBs related to guaranteed benefit features of variable annuity, fixed annuity and fixed index annuity products;•valuation of embedded derivative liabilities for fixed index annuity and index universal life products;•reinsurance assets, including the allowance for credit losses and disputes;•goodwill impairment;•allowance for credit losses on certain investments, primarily on loans and available for sale fixed maturity securities;•fair value measurements of certain financial assets and financial liabilities; and•income taxes, in particular the recoverability of our deferred tax asset and establishment of provisions for uncertain tax positions.

These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

For a complete discussion of our critical accounting estimates, see Part II, Item 7. MD&A – Critical Accounting Estimates in the 2023 Annual Report.