SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2021

SEGMENT INFORMATION

Schedule of continuing operations by operating segment including reconciling items

Three Months Ended June 30,	2021					2020
				Adjusted					Adjusted
		Adjusted		Pre-tax			Adjusted		Pre-tax
(in millions)		Revenues		Income (Loss)			Revenues		Income (Loss)
General Insurance
North America	$	2,685	$	169	(a)	$	2,474	$	(439)	(a)
International		3,530		294	(a)		3,263		96	(a)
Net investment income		731		731			518		518
Total General Insurance		6,946		1,194			6,255		175
Life and Retirement
Individual Retirement		1,519		617			1,331		549
Group Retirement		820		347			712		214
Life Insurance		1,295		20			1,219		2
Institutional Markets		1,412		140			1,399		130
Total Life and Retirement		5,046		1,124			4,661		895
Other Operations
Other Operations before consolidation and eliminations		259		(516)			607		(332)
AIG consolidation and eliminations		(125)		(94)			35		53
Total Other Operations		134		(610)			642		(279)
Total		12,126		1,708			11,558		791
Reconciling items to pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed living benefits		14		13			14		16
Changes in benefit reserves and DAC, VOBA and SIA related to net
realized gains (losses)		-		120			-		255
Changes in the fair value of equity securities		(13)		(13)			56		56
Other income (expense) - net		(2)		-			14		-
Loss on extinguishment of debt		-		(106)			-		-
Net investment income on Fortitude Re funds withheld assets		507		507			116		116
Net realized gains on Fortitude Re funds withheld assets		173		173			96		96
Net realized losses on Fortitude Re funds withheld
embedded derivative		(2,056)		(2,056)			(837)		(837)
Net realized losses(b)		(68)		(59)			(1,621)		(1,607)
Loss from divested businesses		-		(1)			-		(8,412)
Non-operating litigation reserves and settlements		-		-			-		-
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		65			-		33
Net loss reserve discount charge		-		(22)			-		(16)
Integration and transaction costs associated with acquiring or divesting
businesses		-		(35)			-		(4)
Restructuring and other costs		-		(126)			-		(134)
Non-recurring costs related to regulatory or accounting changes		-		(21)			-		(14)
Revenues and pre-tax income (loss)	$	10,681	$	147		$	9,396	$	(9,661)

Six Months Ended June 30,	2021					2020
				Adjusted					Adjusted
		Adjusted		Pre-tax			Adjusted		Pre-tax
(in millions)		Revenues		Income (Loss)			Revenues		Income (Loss)
General Insurance
North America	$	5,073	$	(33)	(a)	$	5,205	$	(542)	(a)
International		7,008		569	(a)		6,611		112	(a)
Net investment income		1,503		1,503			1,106		1,106
Total General Insurance		13,584		2,039			12,922		676
Life and Retirement
Individual Retirement		2,996		1,149			2,699		854
Group Retirement		1,626		654			1,406		357
Life Insurance		2,628		(20)			2,419		80
Institutional Markets		1,776		282			2,423		205
Total Life and Retirement		9,026		2,065			8,947		1,496
Other Operations
Other Operations before consolidation and eliminations		583		(870)			922		(1,167)
AIG consolidation and eliminations		(305)		(270)			(106)		(34)
Total Other Operations		278		(1,140)			816		(1,201)
Total		22,888		2,964			22,685		971
Reconciling items to pre-tax income (loss):
Changes in fair value of securities used to hedge guaranteed living benefits		32		35			28		9
Changes in benefit reserves and DAC, VOBA and SIA related to net
realized gains (losses)		-		(83)			-		(283)
Changes in the fair value of equity securities		9		9			(135)		(135)
Other income (expense) - net		(8)		-			24		-
Loss on extinguishment of debt		-		(98)			-		(17)
Net investment income on Fortitude Re funds withheld assets		993		993			116		116
Net realized gains on Fortitude Re funds withheld assets		346		346			96		96
Net realized gains (losses) on Fortitude Re funds withheld
embedded derivative		326		326			(837)		(837)
Net realized gains(b)		549		568			1,856		1,887
Income (loss) from divested businesses		-		6			-		(8,628)
Non-operating litigation reserves and settlements		-		-			6		6
Favorable prior year development and related amortization
changes ceded under retroactive reinsurance agreements		-		84			-		41
Net loss reserve discount benefit (charge)		-		10			-		(72)
Integration and transaction costs associated with acquiring or divesting
businesses		-		(44)			-		(6)
Restructuring and other costs		-		(200)			-		(224)
Non-recurring costs related to regulatory or accounting changes		-		(41)			-		(27)
Revenues and pre-tax income (loss)	$	25,135	$	4,875		$	23,839	$	(7,103)

(a) General Insurance North America’s and General Insurance International’s Adjusted pre-tax income does not include Net investment income as the investment portfolio results are managed at the General Insurance level. Net investment income is shown separately as a component of General Insurance’s total Adjusted pre-tax income results.

(b) Includes all net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets).