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REINSURANCE (Tables)
 12 Months Ended
Dec. 31, 2012
REINSURANCE  
Supplemental information for gross loss and benefit reserves net of ceded reinsurance

 

 
    
    
    
  
   
 
   2012   2011  
At December 31,
(in millions)
   As
Reported
   Net of
Reinsurance
   As
Reported
   Net of
Reinsurance
  
   

Liability for unpaid claims and claims adjustment expense(a)

   $ (87,991 ) $ (68,782)   $ (91,145 ) $ (70,825 )

Future policy benefits for life and accident and health insurance contracts

     (36,340 )   (35,408 )   (34,317 )   (33,312 )

Reserve for unearned premiums

     (22,537 )   (18,934 )   (23,465 )   (19,553 )

Reinsurance assets(b)

     23,744     –     25,237     –  
   

(a)     In 2012 and 2011, the Net of Reinsurance amount reflects the cession under the June 17, 2011 transaction with National Indemnity Company (NICO) of $1.6 billion and $1.7 billion, respectively.

(b)     Represents gross reinsurance assets, excluding allowances and reinsurance recoverable on paid losses.
Schedule of short-duration insurance premiums written and earned

 

 
    
    
    
    
    
    
    
    
    
    
    
    
  
   
 
   AIG Property Casualty   Other Businesses*   Eliminations   Total  
Years Ended December 31,
(in millions)
  
  2012
   2011
   2010
   2012
   2011*
   2010*
   2012
   2011
   2010
   2012
   2011
   2010
  
   

Premiums written:

                                                                          

Direct

   $ 40,428   $ 41,710   $ 38,965   $ 938   $ 898   $ 927   $ –   $ –   $ –   $ 41,366   $ 42,608   $ 39,892  

Assumed

     3,428     3,031     2,442     (10 )   –     (2 )   7     2     –     3,425     3,033     2,440  

Ceded

     (9,420 )   (9,901 )   (9,795 )   (70 )   (97 )   (169 )   (7 )   (2 )   –     (9,497 )   (10,000 )   (9,964 )
   

Net

   $ 34,436   $ 34,840   $ 31,612   $ 858   $ 801   $ 756   $ –   $ –   $ –   $ 35,294   $ 35,641   $ 32,368  
   

Premiums earned:

                                                                          

Direct

   $ 40,954   $ 42,878   $ 39,082   $ 754   $ 835   $ 1,065   $ –   $ –   $ –   $ 41,708   $ 43,713   $ 40,147  

Assumed

     3,254     3,294     2,488     31     55     80     (30 )   (46 )   –     3,255     3,303     2,568  

Ceded

     (9,335 )   (10,483 )   (9,049 )   (70 )   (98 )   (170 )   30     46     –     (9,375 )   (10,535 )   (9,219 )
   

Net

   $ 34,873   $ 35,689   $ 32,521   $ 715   $ 792   $ 975   $ –   $ –   $ –   $ 35,588   $ 36,481   $ 33,496  
   

*         Includes results of Mortgage Guaranty.
Schedule of premiums for entity's long-duration insurance and retirement services operations

 

 
    
    
    
    
    
    
    
    
    
  
   
Years Ended December 31,

(in millions)
   AIG Life and Retirement   Divested Businesses*   Total  
  2012
   2011
   2010
   2012
   2011
   2010
   2012
   2011
   2010
  
   

Gross premiums

   $ 3,030   $ 3,104   $ 3,141   $ 11   $ 17   $ 9,670   $ 3,041   $ 3,121   $ 12,811  

Ceded premiums

     (602 )   (591 )   (621 )   –     (6 )   (435 )   (602 )   (597 )   (1,056 )
   

Net

   $ 2,428   $ 2,513   $ 2,520   $ 11   $ 11   $ 9,235   $ 2,439   $ 2,524   $ 11,755  
   

*         Primarily represents results of AIA, which was deconsolidated during 2010.
Schedule of long-duration insurance in force ceded to other insurance companies

 

 
    
    
    
  
   
At December 31,
(in millions)
   2012
   2011
   2010*
  
   

Long-duration insurance in force ceded

   $ 129,159   $ 140,156   $ 148,605  
   

*         Excludes amounts related to held-for-sale entities.