EXHIBIT 12

AMERICAN INTERNATIONAL GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions, except ratios)

			Nine Months				Three Months
			Ended				Ended
			September 30,				September 30,
			2003		2002		2003		2002
Income before income taxes and minority interest			$	9,858	$	8,455	$	3,504	$	2,729
Less — Equity income of less than 50% owned persons				104		81		55		34
Add — Dividends from less than 50% owned persons				8		12		2		1
				9,762		8,386		3,451		2,696
Add —
	Fixed charges			3,110		2,805		1,050		901
Less —
	Capitalized interest			35		42		13		13
Income before income taxes, minority interest and fixed charges			$	12,837	$	11,149	$	4,488	$	3,584
Fixed charges:
	Interest costs		$	2,976	$	2,670	$	1,005	$	856
	Rent expense*			134		135		45		45
		Total fixed charges	$	3,110	$	2,805	$	1,050	$	901
Ratio of earnings to fixed charges				4.13		3.97		4.27		3.98

  *  The proportion deemed representative of the interest factor.

      The ratio shown is significantly affected as a result of the inclusion of the fixed charges and operating results of AIG Financial Products Corp. and its subsidiaries (AIGFP). AIGFP enters into borrowings through guaranteed investment agreements and engages as principal in financial derivatives transactions, including interest rate and currency swaps. In the course of its business, AIGFP enters into borrowings that are primarily used to purchase assets that yield rates greater than the rates on the borrowings with the intent of earning a profit on the spread and to finance the acquisition of securities utilized to hedge certain transactions. The pro forma ratios of earnings to fixed charges, which exclude the effects of the operating results of AIGFP, are 7.16 and 6.06 for the third quarter and 6.80 and 6.20 for the first nine months of 2003 and 2002, respectively. As AIGFP will continue to be a subsidiary, AIG expects that these ratios will continue to be lower than they would be if the fixed charges and operating results of AIGFP were not included therein.