SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

3. SEGMENT INFORMATION

We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources through two reportable segments: Commercial Insurance and Consumer Insurance in addition to a Corporate and Other category. The Corporate and Other category consists of businesses and items not allocated to our reportable segments.

We evaluate performance based on revenue and pre-tax operating income (loss). Pre-tax operating income (loss) is derived by excluding certain items from net income (loss) attributable to AIG. See the table below for items excluded from pre-tax operating income (loss).

The following tables present our operations by reportable segment:

	2015				2014
				Pre-Tax				Pre-Tax
Three Months Ended March 31,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Property Casualty	$	5,956	$	1,170	$	6,112	$	1,116
Mortgage Guaranty		264		145		248		76
Institutional Markets		624		147		695		229
Total Commercial Insurance		6,844		1,462		7,055		1,421
Consumer Insurance
Retirement		2,388		800		2,485		915
Life		1,613		171		1,610		235
Personal Insurance		2,862		(26)		3,064		18
Total Consumer Insurance		6,863		945		7,159		1,168
Corporate and Other
Direct Investment book		178		145		519		440
Global Capital Markets		137		114		59		29
AIG Parent and Other*		968		(120)		523		(538)
Consolidation and elimination		(273)		(1)		(133)		1
Total Corporate and Other		1,010		138		968		(68)
AIG Consolidation and elimination		(127)		(18)		(82)		35
Total AIG Consolidated revenues and pre-tax operating income	$	14,590	$	2,527	$	15,100	$	2,556
Reconciling Items from pre-tax operating income to pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		44		44		76		76
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(54)		-		7
Loss on extinguishment of debt		-		(68)		-		(238)
Net realized capital gains		1,341		1,341		(152)		(152)
Income from divested businesses		(15)		(21)		1,113		21
Legal settlements related to legacy crisis matters		15		15		26		26
Legal reserves related to legacy crisis matters		-		(8)		-		(23)
Pre-tax income	$	15,975	$	3,776	$	16,163	$	2,273

*Includes Run-off Insurance Lines and Other Businesses.