SEGMENT INFORMATION

6 Months Ended

Jun. 30, 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 June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Property Casualty	$	6,233	$	1,192	$	6,331	$	1,245
Mortgage Guaranty		261		157		259		210
Institutional Markets		1,172		151		707		170
Total Commercial Insurance		7,666		1,500		7,297		1,625
Consumer Insurance
Retirement		2,465		804		2,410		764
Life		1,632		149		1,560		215
Personal Insurance		2,869		70		3,129		140
Total Consumer Insurance		6,966		1,023		7,099		1,119
Corporate and Other*		1,119		372		1,114		(57)
AIG consolidation and elimination		(116)		(27)		(91)		6
Total AIG consolidated revenues and pre-tax operating income		15,635		2,868		15,419		2,693
Reconciling items from revenues and pre-tax operating income to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		(87)		(87)		54		54
Changes in benefit reserves and DAC, VOBA and SIA related to						-		-
net realized capital gains		-		(28)		-		(52)
Loss on extinguishment of debt		-		(342)		-		(34)
Net realized capital gains		126		126		162		162
Net gain (loss) on sale of divested businesses		(33)		(34)		489		2,151
Legal settlements related to legacy crisis matters		76		76		12		12
Legal reserves related to legacy crisis matters		-		(27)		-		(506)
Other		(18)		-		-		-
Revenues and pre-tax income	$	15,699	$	2,552	$	16,136	$	4,480
	2015				2014
				Pre-Tax				Pre-Tax
Six Months Ended June 30,		Total		Operating		Total		Operating
(in millions)		Revenues		Income (Loss)		Revenues		Income (Loss)
Commercial Insurance
Property Casualty	$	12,189	$	2,362	$	12,443	$	2,361
Mortgage Guaranty		525		302		507		286
Institutional Markets		1,796		298		1,402		399
Total Commercial Insurance		14,510		2,962		14,352		3,046
Consumer Insurance
Retirement		4,853		1,604		4,895		1,679
Life		3,245		320		3,170		450
Personal Insurance		5,731		44		6,193		158
Total Consumer Insurance		13,829		1,968		14,258		2,287
Corporate and Other*		2,161		534		2,097		(110)
AIG consolidation and elimination		(275)		(69)		(188)		26
Total AIG consolidated revenues and pre-tax operating income		30,225		5,395		30,519		5,249

Reconciling items from revenues and pre-tax operating income to revenues and pre-tax income:
Changes in fair values of fixed maturity securities designated to
hedge living benefit liabilities, net of interest expense		(43)		(43)		130		130
Changes in benefit reserves and DAC, VOBA and SIA related to
net realized capital gains		-		(82)		-		(45)
Loss on extinguishment of debt		-		(410)		-		(272)
Net realized capital gains		1,467		1,467		10		10
Net gain (loss) on sale of divested businesses		(48)		(55)		1,602		2,172
Legal settlements related to legacy crisis matters		91		91		38		38
Legal reserves related to legacy crisis matters		-		(35)		-		(529)
Other		(18)		-		-		-
Revenues and pre-tax income	$	31,674	$	6,328	$	32,299	$	6,753

* Corporate and Other includes income from assets held by AIG Parent and other corporate subsidiaries.