American International Group, Inc.

Size: px
Start display at page:

Download "American International Group, Inc."

Transcription

1 Financial Supplement First Quarter 2012 This report should be read in conjunction with AIG s Report on Form 10-Q for the quarter ended March 31, 2012 filed with the Securities and Exchange Commission. All financial information in this document is unaudited.

2 Financial Supplement Contact: Liz Werner Investor Relations (212) Table of Contents. Page(s) Cautionary Statement Regarding Forward-Looking Information... 1 Non-GAAP Financial Measures... 2 Consolidated Results Consolidated Statement of Operations Consolidated Statement of Segment Operations Condensed Balance Sheets Debt and Capital Chartis Chartis Operating Statistics Chartis - Operating Statistics by Business Chartis - Operating Statistics (U.S. & International) Worldwide Net Premiums Written by Line of Business & Region Net Premiums Written by Line of Business Chartis Notes SunAmerica Financial Group SunAmerica Financial Group Operating Statistics Domestic Life Insurance (American General) Operating Statistics Domestic Life Insurance (American General) Sales, Deposits and In Force Domestic Life Insurance (American General) Other Data Domestic Retirement Services Operating Statistics Domestic Retirement Services Product Statistics Domestic Retirement Services Account Value Rollforward Domestic Retirement Services Spread Information Domestic Retirement Services Group Retirement Products (VALIC) Domestic Retirement Services Individual Variable Annuities (SunAmerica Retirement markets) Guaranteed Benefits SunAmerica Financial Group Notes Aircraft Leasing Aircraft Leasing Operating Statistics Other Other Operations Mortgage Guaranty Operating Statistics Parent Company Financial Statements Investment Information Other Invested Assets by Segment Realized Capital Gains (Losses) Return on Average Partnership and Mutual Funds Assets by Segment... 45

3 Cautionary Statement Regarding Forward-Looking Information This Financial Supplement includes, and officers and representatives of American International Group, Inc. (AIG) may from time to time make, projections, goals, assumptions and statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of These projections, goals, assumptions and statements are not historical facts but instead represent only AIG s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG s control. These projections, goals, assumptions and statements include statements preceded by, followed by or including words such as believe, anticipate, expect, intend, plan, view, target or estimate. These projections, goals, assumptions and statements may address, among other things: the timing of the disposition of the ownership position of the United States Department of the Treasury (the Department of the Treasury) in AIG; the cash flow projections and fair value for AIG s interest in Maiden Lane III LLC (ML III); the monetization of AIG s interests in International Lease Finance Corporation (ILFC); AIG s exposures to subprime mortgages, monoline insurers, the residential and commercial real estate markets, state and municipal bond issuers and sovereign bond issuers; AIG s exposure to European governments and European financial institutions; AIG s strategy for risk management; AIG s ability to retain and motivate its employees; AIG s generation of deployable capital; AIG s return on equity and earnings per share long-term aspirational goals; AIG s strategies to grow net investment income, efficiently manage capital and reduce expenses; AIG s strategies for customer retention, growth, product development, market position, financial results and reserves; and the revenues and combined ratios of AIG s subsidiaries. It is possible that AIG s actual results and financial condition will differ, possibly materially, from the results and financial condition indicated in these projections, goals, assumptions and statements. Factors that could cause AIG s actual results to differ, possibly materially, from those in the specific projections, goals, assumptions and statements include: actions by credit rating agencies; changes in market conditions; the occurrence of catastrophic events; significant legal proceedings; concentrations in AIG s investment portfolios, including its municipal bond portfolio; judgments concerning casualty insurance underwriting and reserves; judgments concerning the recognition of deferred tax assets; judgments concerning deferred policy acquisition costs (DAC) recoverability; judgments concerning the recoverability of aircraft values in ILFC s fleet; and such other factors as are discussed throughout Part I Item 2. Management s Discussion and Analysis of Financial Condition and Results of Operations in AIG s Report on Form 10-Q for the quarter ended March 31, 2012, and in Part I Item 1A. Risk Factors and discussed throughout Part II Item 7. Management s Discussion and Analysis of Financial Condition and Results of Operations in AIG s Annual Report on Form 10-K for the year ended December 31, 2011, as amended by Amendment No. 1 and Amendment No. 2 on Form 10-K/A filed on February 27, 2012 and March 30, 2012, respectively. AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions or other statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise. 1

4 Non-GAAP Financial Measures Throughout this financial supplement, AIG presents its operations in the way it believes will be most meaningful and representative of ongoing operations as well as most transparent. That presentation includes the use of certain non-gaap financial measures. The reconciliations of such measures to the most comparable GAAP measures in accordance with Regulation G are included within the relevant tables. AIG believes that After-tax operating income (loss) permits a better assessment and enhanced understanding of the operating performance of its businesses by highlighting the results from ongoing operations and the underlying profitability of its businesses. After-tax operating income (loss) excludes net income (loss) from discontinued operations, net gain (loss) on sale of divested businesses, net income (loss) from divested businesses, deferred income tax valuation allowance charges and releases, amortization of the Federal Reserve Bank of New York (FRBNY) prepaid commitment fee asset, changes in fair value of SunAmerica Financial Group s (SunAmerica) fixed income securities designated to hedge living benefit liabilities, SunAmerica increased benefit reserves and benefit (amortization) of deferred policy acquisition costs (DAC), value of business acquired (VOBA), and sales inducement assets (SIA) related to net realized capital gains (losses), net realized capital gains (losses) and non-qualifying derivative hedging activities, excluding net realized capital gains (losses). See page 6 for the reconciliation of Net income (loss) attributable to AIG to After-tax operating income (loss). Additionally, in some cases, revenues, net income, operating income and related rates of performance are shown exclusive of the effect of tax benefits not obtained for losses incurred, the recognition of other-than-temporary impairments, partnership income, other enhancements to income, credit valuation adjustments, unrealized market valuation gains (losses), the effect of catastrophe-related losses and prior year loss development, asbestos losses, returned or additional premiums related to prior year development, foreign exchange rates and aircraft impairments. In all such instances, AIG believes that excluding these items permits investors to better assess the operating performance of each of AIG s underlying businesses by highlighting the results from ongoing operations and the underlying profitability of its businesses. AIG believes that providing information in a non-gaap manner is more useful to investors and analysts and more meaningful than the GAAP presentation. When such measures are disclosed, reconciliations to GAAP pre-tax income are provided. Although the investment of premiums to generate investment income (or loss) and realized capital gains or losses is an integral part of both life and general insurance operations, the determination to realize capital gains or losses is independent of the insurance underwriting process. Moreover, under applicable GAAP accounting requirements, losses can be recorded as the result of other-than-temporary declines in value without actual realization. In sum, investment income and realized capital gains or losses for any particular period are not indicative of underlying business performance for such period. Life and retirement services production (premiums, deposits and other considerations and life insurance CPPE sales) is a non-gaap measure which includes life insurance premiums, deposits on annuity contracts and mutual funds. AIG uses this measure because it is a standard measure of performance used in the insurance industry and thus allows for more meaningful comparisons with AIG s insurance competitors. During the first quarter of 2012, AIG revised its definition of After-tax operating income (loss) to exclude changes in the fair value of SunAmerica s fixed income securities designated to hedge living benefit liabilities and increased benefit reserves related to net realized capital gains (losses). AIG believes that this revised measure of After-tax operating income (loss) permits a better assessment and enhanced understanding of the operating performance of its SunAmerica business by excluding from operating results the volatility associated with these hedging and capital gains taking activities. AIG believes this revised definition of After-tax operating income (loss) is a better measure of how AIG assesses the operating performance of SunAmerica Financial Group s operations. 2

5 Consolidated Statement of Operations (in millions, except per share data) 1Q12 4Q11 3Q11 2Q11 1Q11 Revenues: Premiums $ 9,461 $ 9,781 $ 9,829 $ 9,898 $ 9,482 Policy fees Net investment income 7,105 4, ,464 5,569 Net realized capital gains (losses): (1) Total other-than-temporary impairments on available for sale securities (168) (324) (493) (181) (218) Portion of other-than-temporary impairments on available for sale fixed maturity securities recognized in Accumulated other comprehensive income (loss) (285) Net other-than-temporary impairments on available for sale securities recognized in net income (loss) (453) (286) (422) (125) (215) Other realized capital gains (losses) (433) Total net realized capital gains (losses) (page 44) (303) (648) Aircraft leasing revenue 1,156 1,089 1,129 1,134 1,156 Other income ,196 Total revenues 18,443 17,419 12,719 16,680 17,439 Benefits, claims and expenses: Policyholder benefits and claims incurred 7,102 8,072 8,333 8,086 8,959 Interest credited to policyholder account balances 1,069 1,101 1,146 1,114 1,106 Amortization of deferred acquisition costs 1,347 1,393 1,540 1,322 1,231 Other acquisition and insurance expenses 2,258 2,294 2,067 2,129 1,968 Interest expense ,061 Aircraft leasing expenses , Net loss (gain) on extinguishment of debt (2) 21 (484) ,313 Other expenses Total benefits, claims and expenses 13,859 14,534 16,989 14,886 18,749 Income (loss) from continuing operations before income tax expense (benefit) 4,584 2,885 (4,270) 1,794 (1,310) Income tax expense (benefit) 1,148 (18,577) (665) (296) (226) Income (loss) from continuing operations 3,436 21,462 (3,605) 2,090 (1,084) Income (loss) from discontinued operations, net of income tax expense (benefit) (221) (37) 2,585 Net income (loss) 3,449 21,602 (3,826) 2,053 1,501 Less: Net income (loss) from continuing operations attributable to noncontrolling interests: Noncontrolling nonvoting, callable, junior and senior preferred interests Other (55) Total net income from continuing operations attributable to noncontrolling interests Net income from discontinued operations attributable to noncontrolling interests Total net income attributable to noncontrolling interests Net income (loss) attributable to AIG $ 3,208 $ 21,479 $ (3,990) $ 1,836 $ 1,297 Net income (loss) attributable to AIG common shareholders $ 3,208 $ 21,479 $ (3,990) $ 1,836 $ 485 Income (loss) per common share attributable to AIG common shareholders: Basic: Income (loss) from continuing operations $ 1.70 $ $ (1.99) $ 1.03 $ (1.34) Income (loss) from discontinued operations $ 0.01 $ 0.07 $ (0.11) $ (0.03) $ 1.65 Diluted: Income (loss) from continuing operations $ 1.70 $ $ (1.99) $ 1.03 $ (1.34) Income (loss) from discontinued operations $ 0.01 $ 0.07 $ (0.11) $ (0.03) $ 1.65 Weighted average shares outstanding: Basic 1, , , , ,557.7 Diluted 1, , , , ,557.7 Notes: (1) Includes gains (losses) from hedging activities that did not qualify for hedge accounting, including the related foreign exchange gains, and losses and other-than-temporary impairment charges. (2) Includes a $3.3 billion charge in 1Q11, primarily consisting of the accelerated amortization of the prepaid commitment fee asset resulting from the termination of the FRBNY Credit Facility on January 14, In the fourth quarter of 2011, as a result of the exchange of specified series of its outstanding Junior Subordinated Debentures for senior notes pursuant to its offer to exchange, AIG recognized a $484 million gain. 3

6 Consolidated Statement of Segment Operations (in millions, except per share data) 1Q12 4Q11 3Q11 2Q11 1Q11 Chartis Net premiums written $ 8,820 $ 7,848 $ 8,659 $ 9,167 $ 9,166 Net premiums earned 8,688 8,962 9,043 9,033 8,651 Claims and claims adjustment expenses incurred 5,909 6,675 6,838 6,680 7,756 Underwriting expenses 2,959 2,923 2,737 2,712 2,498 Underwriting loss (180) (636) (532) (359) (1,603) Net investment income 1,223 1,003 1,024 1,142 1,179 Operating income (loss) 1, (424) Net realized capital gains (losses) (135) Other income (loss) 2 (4) (1) - - Pre-tax income (loss) (374) SunAmerica Financial Group Premiums Policy fees Net investment income 2,885 2,372 2,295 2,461 2,754 Other income (1) Total revenues 4,181 3,901 3,544 3,805 4,059 Benefits and expenses 2,870 2,989 3,073 3,082 2,888 Operating income 1, ,171 Change in fair value of fixed income securities designated to hedge living benefit liabilities, net of interest expense (19) Increased benefit reserves and benefit (amortization) of DAC, VOBA and SIA related to net realized capital gains (losses) 36 (132) (163) (48) 16 Net realized capital gains (losses) (466) (220) Pre-tax income Aircraft Leasing Revenues 1,153 1,048 1,129 1,134 1,156 Expenses 1, ,446 1,048 1,039 Operating income (loss) (1,317) Net realized capital gains (losses) 1 (2) (12) 1 3 Pre-tax income (loss) (1,329) Other operations, operating income (loss) 2, (4,242) 114 2,137 Other operations pre-tax income (loss) before net realized capital gains (losses) 2, (4,244) 112 (1,562) Other operations, net realized capital gains (losses) (25) (435) Consolidation and elimination adjustments (44) (78) (26) Income (loss) from continuing operations before income tax expense 4,584 2,885 (4,270) 1,794 (1,310) Income tax expense (benefit) (2) 1,148 (18,577) (665) (296) (226) Income (loss) from continuing operations 3,436 21,462 (3,605) 2,090 (1,084) Income (loss) from discontinued operations, net of tax (221) (37) 2,585 Net income (loss) 3,449 21,602 (3,826) 2,053 1,501 Less: Net income (loss) from continuing operations attributable to noncontrolling interests: Noncontrolling nonvoting, callable, junior and senior preferred interests Other (55) Total net income from continuing operations attributable to noncontrolling interests Net income from discontinued operations attributable to noncontrolling interests Total net income attributable to noncontrolling interests Net income (loss) attributable to AIG $ 3,208 $ 21,479 $ (3,990) $ 1,836 $ 1,297 Income (loss) per common share attributable to AIG common shareholders - diluted: Income (loss) from continuing operations $ 1.70 $ $ (1.99) $ 1.03 $ (1.34) Income (loss) from discontinued operations $ 0.01 $ 0.07 $ (0.11) $ (0.03) $ 1.65 Effective tax rates (page 6): Income (loss) from continuing operations 25.0% N/M 15.6% (16.5)% 17.3% See Accompanying Notes on Page 5 4

7 Consolidated Statement of Segment Operations Notes (1) Other income in 4Q11 represents revenue recorded pursuant to legal settlements. (2) Reflects valuation allowance release of $19.5 billion in 4Q11 as the cumulative positive evidence outweighed the historical negative evidence regarding the likelihood that the deferred tax asset for AIG s U.S. consolidated income tax group (other than life-insurance-business capital loss carryforwards) will be realized. Return on equity computations (ROE): 1Q12 4Q11 3Q11 2Q11 1Q11 Annualized Net income (loss) attributable to AIG $ 12,832 $ 85,916 $ (15,960) $ 7,344 $ 5,188 Annualized After-tax operating income (loss) attributable to AIG $ 12,388 $ 6,356 $ (11,984) $ 4,960 $ 8,356 Average AIG Shareholders' equity $ 102,495 $ 91,225 $ 84,076 $ 83,444 $ 79,252 Less: Average AOCI 6,013 5,551 7,480 7,941 7,207 Average AIG Shareholders' equity, excluding AOCI $ 96,482 $ 85,674 $ 76,596 $ 75,503 $ 72,045 ROE (a) 12.5% N/M N/M 8.8% 6.5% ROE excluding AOCI (b) 13.3% N/M N/M 9.7% 7.2% ROE - After-tax operating income (c) 12.8% 7.4% N/M 6.6% 11.6% N/M - Not meaningful (a) Computed as Annualized Net income (loss) attributable to AIG divided by Average AIG Shareholders' equity. (b) Computed as Annualized Net income (loss) attributable to AIG divided by Average AIG Shareholders' equity, excluding AOCI. (c) Computed as Annualized After-tax operating income (loss) divided by Average AIG Shareholders' equity, excluding AOCI. Book Value per Common Share computations: (dollars in millions, except share amounts) (2 3) (2) Book Value Per Share, (1) Total AIG Shareholders' (3) (1 3) Excluding Accumulated Total AIG Equity, Excluding Total Common Book Value Other Comprehensive Shareholders' Accumulated Other Shares Per Share Income (Loss) Equity Comprehensive Income (Loss) Outstanding December 31, 2011 $ $ $ 101,538 $ 96,385 1,896,821,482 March 31, ,451 96,578 1,793,447,313 5

8 After-tax Operating Income (Loss) Attributable to AIG (in millions, except share data) 1Q12 4Q11 3Q11 2Q11 1Q11 Net income (loss) attributable to AIG $ 3,208 $ 21,479 $ (3,990) $ 1,836 $ 1,297 Adjustments to arrive at After-tax operating income (loss) attributable to AIG (amounts net of tax): Net income (loss) from discontinued operations (221) (49) 2,578 Net gain (loss) on sale of divested businesses (2) 1 (1) (1) (47) Net income (loss) from divested businesses Deferred income tax valuation allowance (charge)/release ,410 (1,162) 588 (529) Amortization of FRBNY prepaid commitment fee asset (2,358) Changes in fair value of SunAmerica's fixed income securities designated to hedge living benefit liabilities (19) SunAmerica increased benefit reserves and benefit (amortization) of DAC, VOBA and SIA related to net realized capital gains (losses) 36 (83) (102) (28) 11 Net realized capital gains (losses) (239) (384) Non-qualifying derivative hedging activities, excluding net realized capital gains (losses) (69) After-tax operating income (loss) attributable to AIG $ 3,097 $ 1,589 $ (2,996) $ 1,240 $ 2,089 After-tax operating income (loss) attributable to AIG per diluted share $ 1.65 $ 0.84 $ (1.58) $ 0.68 $ 1.34 Effective tax rates on After-tax operating income (loss) attributable to AIG: 30.8% 24.2% 41.1% 15.4% 26.8% Return on equity - After-tax operating income (loss) (page 5) 12.8% 7.4% N/M 6.6% 11.6% The reconciliation of income attributable to AIG from continuing operations to After-tax operating income (loss) and calculation of the effective tax rates is presented below (gains are negative and losses are positive). Three Months Ended March 31, 2012 Income (loss) Income Tax Net Noncontrolling Net Income (loss) Effective Before Tax (Expense) Benefit Income (loss) Interests attributable to AIG Tax Rate (1) Income (loss) from continuing operations $ 4,584 $ (1,148) $ 3,436 $ (241) $ 3, % Net gains / losses on sale of divested business 3 (1) 2-2 Deferred income tax valuation allowance charge - (289) (289) - (289) Changes in fair value of SunAmerica's fixed income securities designated to hedge living benefit liabilities Net realized capital gains (losses), net of SunAmerica offsets 267 (64) (2) Non-qualifying derivative hedging gains (losses) (50) 17 (33) - (33) After-tax operating income (loss) $ 4,823 $ (1,485) $ 3,338 $ (241) $ 3, % (1) Effective tax rates are calculated based on Income (loss) from continuing operations before tax. (2) Includes tax effect of pre-tax losses that are not deductible for tax purposes. 6

9 Condensed Consolidated Balance Sheets (in millions) March 31, 2012 December 31, 2011 September 30, 2011 June 30, 2011 March 31, 2011 Assets: Investments: Fixed maturity securities Bonds available for sale, at fair value $ 266,362 $ 263,981 $ 259,829 $ 249,360 $ 238,315 Bonds trading securities, at fair value 24,481 24,364 24,654 26,968 27,309 Equity securities Common and preferred stock available for sale, at fair value 3,026 3,624 3,209 4,128 3,873 Common and preferred stock trading, at fair value Mortgage and other loans receivable, net of allowance 19,519 19,489 19,279 19,253 19,691 Flight equipment primarily under operating leases, net of accumulated depreciation 35,452 35,539 35,758 37,688 38,100 Other invested assets (page 43) 37,209 40,744 41,131 43,763 42,900 Short-term investments 20,789 22,572 29,098 30,489 38,872 Total investments 406, , , , ,223 Cash 1,315 1,474 1,542 2,590 1,801 Premiums and other receivables, net of allowance 15,648 14,721 15,590 16,629 17,509 Reinsurance assets, net of allowance 28,257 27,211 30,411 31,675 30,177 Current and deferred income taxes 15,955 17, Deferred policy acquisition costs 8,753 8,937 9,044 9,280 9,390 Other assets 21,489 20,389 21,264 21,815 22,605 Separate account assets, at fair value 56,025 51,388 48,112 56,104 56,470 Assets held for sale ,521 57,792 Total assets $ 554,403 $ 552,360 $ 539,069 $ 610,427 $ 604,967 Liabilities: Liability for unpaid claims and claims adjustment expense $ 89,785 $ 91,145 $ 93,782 $ 94,932 $ 94,978 Unearned premiums 25,034 23,465 25,951 26,196 26,337 Future policy benefits for life and accident and health insurance contracts 34,493 34,317 33,600 31,689 31,493 Policyholder contract deposits 126, , , , ,775 Other policyholder funds 6,561 6,691 6,655 6,641 6,769 Current and deferred income taxes - - 1,544 1,284 1,864 Other liabilities 35,568 32,287 34,991 34,579 36,668 Long-term debt (page 10) 76,096 75,253 77,389 79,461 82,166 Separate account liabilities 56,025 51,388 48,112 56,104 56,470 Liabilities held for sale ,272 53,379 Total liabilities $ 449,938 $ 441,444 $ 447,979 $ 510,662 $ 512,899 Redeemable noncontrolling nonvoting, callable, junior preferred interests held by Department of Treasury - 8,427 9,303 11,465 11,324 Other redeemable noncontrolling interests Total redeemable noncontrolling interests 121 8,523 9,408 11,576 11,602 AIG shareholders' equity: Preferred stock Common stock 4,766 4,766 4,764 4,761 4,508 Treasury stock, at cost (3,942) (942) (872) (872) (873) Additional paid-in capital 81,772 81,787 81,776 81,056 77,697 Accumulated earnings (deficit) 13,982 10,774 (10,705) (6,716) (8,555) Accumulated other comprehensive income (loss) 6,873 5,153 5,948 9,012 6,870 Total AIG shareholders' equity 103, ,538 80,911 87,241 79,647 Non-redeemable noncontrolling interests Total equity 104, ,393 81,682 88,189 80,466 Total liabilities and equity $ 554,403 $ 552,360 $ 539,069 $ 610,427 $ 604,967 7

10 Condensed Consolidating Segment Balance Sheet March 31, 2012 (in millions) SunAmerica Other Consolidation Chartis Financial Group Aircraft Leasing UGC Operations (4) & Eliminations (1) AIG Inc. Assets: Investments: Fixed maturity securities Bonds available for sale, at fair value $ 103,487 $ 156,886 $ - $ 2,937 $ 3,052 $ - $ 266,362 Bonds trading securities, at fair value (2) ,436-24,481 Equity securities Common and preferred stock available for sale, at fair value 2, ,026 Common and preferred stock trading, at fair value Mortgage and other loans receivable, net of allowance 2,778 21, ,143 (9,196) 19,519 Flight equipment primarily under operating leases, net of accumulated depreciation , ,452 Other invested assets (3) (page 43) 12,405 12, , ,209 Short-term investments 5,768 3,560 2, ,357 (2,050) 20,789 Total investments 127, ,231 37,832 3,777 52,421 (10,717) 406,961 Cash ,315 Premiums and other receivables, net of allowance 12,633 1, ,428 (932) 15,648 Reinsurance assets, net of allowance 26,679 1, ,257 Current and deferred income taxes 4,257 1,884 (60) (61) 21,237 (11,302) 15,955 Deferred policy acquisition costs 2,406 6, ,753 Other assets 6,734 3,673 1, ,692 (87,146) 21,489 Separate account assets, at fair value - 56, ,025 Total assets $ 181,016 $ 266,999 $ 39,497 $ 4,016 $ 172,938 $ (110,063) $ 554,403 Liabilities: Liability for unpaid claims and claims adjustment expense $ 87,154 $ - $ - $ 975 $ 1,818 $ (162) $ 89,785 Unearned premiums 24, ,034 Future policy benefits for life and accident and health insurance contracts 3,495 30, (25) 34,493 Policyholder contract deposits - 126, (90) 126,376 Other policyholder funds 4,067 2, ,561 Other liabilities 12,541 14,941 7, ,736 (16,176) 35,568 Long-term debt (page 10) 257 1,775 (6) 24,657-58,135 (8,728) 76,096 Separate account liabilities - 56, ,025 Total liabilities $ 132,295 $ 232,425 $ 31,813 $ 1,562 $ 77,024 $ (25,181) $ 449,938 Redeemable noncontrolling interests AIG shareholders' equity: Preferred stock (1) - - Common stock , ,346 (15,843) 4,766 Treasury stock, at cost (3,942) - (3,942) Additional paid-in capital 22,005 40,754 1,244 1,510 64,180 (47,921) 81,772 Accumulated earnings (deficit) 22,576 (11,935) 5, ,834 (13,645) 13,982 Accumulated other comprehensive income (loss) (5) 3,880 5,650 (19) 94 5,281 (8,013) 6,873 Total AIG shareholders' equity 48,568 34,569 7,584 2,454 95,698 (85,422) 103,451 Non-redeemable noncontrolling interests Total equity 48,692 34,574 7,684 2,454 95,914 (84,974) 104,344 Total liabilities and equity $ 181,016 $ 266,999 $ 39,497 $ 4,016 $ 172,938 $ (110,063) $ 554,403 Notes: (1) Segment amounts are presented on an AIG stand alone basis prior to intercompany eliminations. (2) Includes interest in ML III of $6.9 billion, reported in Other Operations. (3) Includes AIG's 19% interest in AIA with a total carrying value of $8.2 billion and reported in Other Operations. (4) Primarily represents AIG Parent Company (including the tax valuation allowance), Global Capital Markets, Direct Investment book and SAFG, Inc. (a non-operating holding company), and the AIA SPV. (5) For U.S. tax purposes, SunAmerica has approximately $10.9 billion of gross unrealized gains in its available for sale portfolio which, if realized, can be used to reduce a portion of gross capital loss carryforward totaling $19.7 billion. (6) Consists primarily of intercompany debt which is eliminated in consolidation. 8

11 Condensed Consolidating Segment Balance Sheet December 31, 2011 (in millions) SunAmerica Other Consolidation Chartis Financial Group Aircraft Leasing UGC Operations (4) & Eliminations (1) AIG Inc. Assets: Investments: Fixed maturity securities Bonds available for sale, at fair value $ 103,831 $ 154,912 $ - $ 3,027 $ 2,211 $ - $ 263,981 Bonds trading securities, at fair value (2) 88 1, ,692-24,364 Equity securities Common and preferred stock available for sale, at fair value 2, ,624 Common and preferred stock trading, at fair value Mortgage and other loans receivable, net of allowance 2,598 21, ,026 (10,429) 19,489 Flight equipment primarily under operating leases, net of accumulated depreciation , ,539 Other invested assets (3) (page 43) 12,279 12, , ,744 Short-term investments 4,660 3,301 1,910 1,010 11,691-22,572 Total investments 126, ,725 37,540 4,041 58,686 (9,905) 410,438 Cash ,474 Premiums and other receivables, net of allowance 11,254 1, ,881 (890) 14,721 Reinsurance assets, net of allowance 25,538 1, ,211 Current and deferred income taxes 4,305 2,289 (158) (55) 20,794 (9,373) 17,802 Deferred policy acquisition costs 2,375 6, ,937 Other assets 7,211 3,658 1, ,293 (97,231) 20,389 Separate account assets, at fair value - 51, ,388 Total assets $ 177,707 $ 260,752 $ 39,038 $ 4,323 $ 187,904 $ (117,364) $ 552,360 Liabilities: Liability for unpaid claims and claims adjustment expense $ 88,211 $ - $ - $ 1,414 $ 1,691 $ (171) $ 91,145 Unearned premiums 23, ,465 Future policy benefits for life and accident and health insurance contracts 3,474 30, (25) 34,317 Policyholder contract deposits - 126, (78) 126,898 Other policyholder funds 4,180 2, ,691 Other liabilities 10,623 13,219 7, ,329 (13,224) 32,287 Long-term debt (page 10) 566 1,911 (6) 24,385-58,342 (9,951) 75,253 Separate account liabilities - 51, ,388 Total liabilities $ 130,290 $ 226,571 $ 31,431 $ 1,898 $ 74,703 $ (23,449) $ 441,444 Redeemable noncontrolling nonvoting, callable, junior preferred interests held by Department of Treasury ,427 8,427 Other redeemable noncontrolling interests Total redeemable noncontrolling interests ,494 8,523 AIG shareholders' equity: Preferred stock ,426 (8,427) - Common stock , ,345 (15,843) 4,766 Treasury stock, at cost (942) - (942) Additional paid-in capital 21,807 40,753 1,244 1,510 71,757 (55,284) 81,787 Accumulated earnings (deficit) 22,387 (11,398) 5, ,322 (14,587) 10,774 Accumulated other comprehensive income (loss) (5) 2,956 4,718 (22) 93 6,139 (8,731) 5,153 Total AIG shareholders' equity 47,258 34,173 7,507 2, ,047 (102,872) 101,538 Non-redeemable noncontrolling interests Total equity 47,388 34,181 7,607 2, ,201 (102,409) 102,393 Total liabilities and equity $ 177,707 $ 260,752 $ 39,038 $ 4,323 $ 187,904 $ (117,364) $ 552,360 Notes: (1) Segment amounts are presented on an AIG stand alone basis prior to intercompany eliminations. (2) Includes interest in Maiden Lane II LLC (ML II) of $1.3 billion reported in SunAmerica and interest in ML III of $5.7 billion, reported in Other Operations. (3) Includes AIG's 33% interest in AIA with a total carrying value of $12.4 billion and reported in Other Operations. (4) Primarily represents AIG Parent (including the tax valuation allowance), Global Capital Markets, Direct Investment book, SAFG, Inc. (a non-operating holding company), and the AIA SPV. (5) For U.S. tax purposes, SunAmerica has approximately $11.0 billion of gross unrealized gains in its available for sale portfolio which, if realized, can be used to reduce a portion of gross capital loss carryforward totaling $20.7 billion. (6) Consists primarily of intercompany debt which is eliminated in consolidation. 9

12 Debt and Capital Debt and Hybrid Capital Interest Expense Financial debt: March 31, Dec. 31, Inc. Three Months Ended (Dec.) March 31, 2012 March 31, 2011 AIG notes and bonds payable $ 12,797 $ 12, % $ 179 $ 151 AIG loans and mortgage payable (4.7) 1 1 SAFG, Inc. notes and bonds payable Liabilities connected to trust preferred stock 1,339 1, Total 14,657 14, Operating debt: MIP notes payable 10,853 10, Series AIGFP matched notes and bonds payable 3,702 3,807 (2.8) Other AIG borrowings supported by assets (b) 10,579 10,766 (1.7) - - ILFC borrowings 24,637 24, Other subsidiaries Borrowings of consolidated investments 1,839 1,853 (0.8) Total 52,030 51, Hybrid - debt securities: Junior subordinated debt (c) 9,409 9, Total $ 76,096 $ 75, % $ 953 $ 1,061 (a) AIG capitalization: Total equity $ 104,344 $ 102, % Hybrid - debt securities (c) 9,409 9, Total consolidated equity and hybrid capital 113, , Financial debt 14,657 14, Total capital $ 128,410 $ 126, % Ratios: Total equity / Total capital 81.3% 81.1% Hybrid - debt securities / Total capital 7.3% 7.4% Financial debt / Total capital 11.4% 11.6% Notes: (a) In 1Q11 includes $72 million associated with the FRBNY Credit Facility which was repaid in full on January 14, 2011 following AIG's recapitalization, $22 million related to equity units and $(2) million related to discontinued operations. (b) Borrowings are carried at fair value with fair value adjustments reported in Other income (loss) on the Consolidated Statement of Operations. Contractual interest payments amounted to $93 million for the three months ended March 31, 2012 and $401 million for the twelve months ended December 31, (c) The junior subordinated debentures receive hybrid equity treatment from the major rating agencies under their current policies but are recorded as long-term borrowings on the Consolidated Balance Sheet. 10

13 Chartis Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 8,820 $ 7,848 $ 8,659 $ 9,167 $ 9,166 Net premiums earned 8,688 8,962 9,043 9,033 8,651 Claims and claims adjustment expenses incurred (1) 5,909 6,675 6,838 6,680 7,756 Underwriting expenses 2,959 2,923 2,737 2,712 2,498 Underwriting loss (180) (636) (532) (359) (1,603) Net investment income (2) Interest and dividends Alternative investments 130 (86) Mutual funds 8 (4) (15) 5 45 Other investment income (3) Investment expense (36) (56) (57) (50) (62) Total 1,223 1,003 1,024 1,142 1,179 Operating income (loss) before net realized capital gains (losses) and other income (loss) 1, (424) Net realized capital gains (losses) (135) Other income (loss) 2 (4) (1) - - Pre-tax income (loss) $ 910 $ 817 $ 551 $ 826 $ (374) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Foreign exchange effect on worldwide premium: Change in net premiums written Increase / (decrease) in original currency (4) (4.5)% 1.7 % (3.5) % 13.6 % 18.7 % Foreign exchange effect Increase / (decrease) as reported in US $ (3.7)% 3.6 % 0.7 % 17.6 % 19.9 % Pre-tax catastrophe-related losses and prior year loss reserve development: Pre-tax catastrophe-related losses $ 80 $ 478 $ 605 $ 525 $ 1,688 Reinstatement premium related to catastrophes - (11) (31) Net prior year adverse (favorable) loss development (5) 66 (13) Returned / (additional) premium related to prior year development (6) (19) (25) (91) (37) Net loss and loss expense reserve (at period end) $ 67,313 $ 67,979 $ 69,033 $ 68,845 $ 70,201 See Accompanying Notes on Page 21 11

14 Chartis Commercial Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 5,223 $ 4,422 $ 5,179 $ 5,723 $ 5,724 Net premiums earned 5,188 5,371 5,595 5,617 5,282 Claims and claims adjustment expenses incurred 3,846 4,508 4,638 4,498 5,206 Underwriting expenses 1,518 1,436 1,359 1,310 1,244 Underwriting loss (176) (573) (402) (191) (1,168) Net investment income (2) Operating income (loss) $ 565 $ 264 $ 405 $ 629 $ (384) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Pre-tax catastrophe-related losses and prior year loss reserve development: Pre-tax catastrophe-related losses $ 76 $ 443 $ 483 $ 456 $ 1,199 Reinstatement premium related to catastrophes - (11) (31) Net prior year adverse (favorable) loss development (5) 48 (74) 22 (43) (17) Returned / (additional) premium related to prior year development (6) (19) (25) (91) (37) Net loss and loss expense reserve (at period end) $ 57,530 $ 58,549 $ 59,079 $ 59,152 $ 58,925 See Accompanying Notes on Page 21 12

15 Chartis Consumer Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 3,597 $ 3,427 $ 3,479 $ 3,439 $ 3,417 Net premiums earned 3,496 3,581 3,435 3,393 3,346 Claims and claims adjustment expenses incurred 2,030 2,128 2,173 2,102 2,497 Underwriting expenses 1,348 1,411 1,329 1,321 1,192 Underwriting profit (loss) (67) (30) (343) Net investment income (2) Operating income (loss) $ 234 $ 131 $ 21 $ 59 $ (255) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Pre-tax catastrophe-related losses and prior year loss reserve development: Pre-tax catastrophe-related losses $ 4 $ 35 $ 122 $ 69 $ 489 Net prior year adverse (favorable) loss development (5) (14) Net loss and loss expense reserve (at period end) $ 5,542 $ 5,438 $ 5,937 $ 5,671 $ 5,595 See Accompanying Notes on Page 21 13

16 Chartis Other Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ - $ (1) $ 1 $ 5 $ 25 Net premiums earned Claims and claims adjustment expenses incurred Underwriting expenses Underwriting loss (122) (105) (63) (138) (92) Net investment income (2) Operating income (loss), before net realized capital gains (losses), and other income (loss) 244 (28) Net realized capital gains (losses) (135) Other income (loss) 2 (4) (1) - - Pre-tax income $ 111 $ 422 $ 125 $ 138 $ 265 Pre-tax catastrophe-related losses and prior year loss reserve development: Net prior year adverse (favorable) loss development (5) $ 32 $ 33 $ 12 $ 15 $ 40 Net loss and loss expense reserve (at period end) $ 4,241 $ 3,992 $ 4,017 $ 4,022 $ 5,681 See Accompanying Notes on Page 21 14

17 Chartis U.S. Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 3,879 $ 3,828 $ 4,359 $ 4,957 $ 4,128 Net premiums earned 4,417 4,492 4,616 4,689 4,482 Claims and claims adjustment expenses incurred 3,626 3,770 4,110 3,940 4,103 Underwriting expenses 1,189 1,096 1,033 1, Underwriting loss (398) (374) (527) (289) (600) Net investment income Interest and dividends Alternative investments 139 (87) Other investment income (3) Investment expense (23) (44) (38) (39) (45) Total Operating income before net realized capital gains (losses) and other loss Net realized capital gains (losses) (164) Other income (loss) 2 (4) (1) - - Pre-tax income $ 406 $ 394 $ 276 $ 657 $ 340 Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Pre-tax catastrophe-related losses and prior year loss reserve development: Pre-tax catastrophe-related losses $ 79 $ 191 $ 480 $ 397 $ 529 Reinstatement premium related to catastrophes - 1 (4) 1 (4) Net prior year adverse (favorable) loss development (5) Returned / (additional) premium related to prior year development (6) (19) (25) (91) (37) See Accompanying Notes on Page 21 15

18 Chartis U.S. - Operating Statistics by Business Commercial Insurance 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 2,984 $ 3,113 $ 3,506 $ 4,156 $ 3,326 Net premiums earned 3,536 3,648 3,771 3,819 3,657 Claims and claims adjustment expenses incurred 3,048 3,172 3,478 3,342 3,546 Underwriting expenses Underwriting loss (379) (329) (474) (281) (592) Net investment income Operating income $ 238 $ 370 $ 194 $ 399 $ 62 Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Consumer Insurance Net premiums written $ 895 $ 716 $ 852 $ 796 $ 777 Net premiums earned Claims and claims adjustment expenses incurred Underwriting expenses Underwriting profit (loss) (23) Net investment income Operating income $ 88 $ 39 $ 2 $ 77 $ 53 Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Chartis Other U.S Net premiums written $ - $ (1) $ 1 $ 5 $ 25 Net premiums earned Claims and claims adjustment expenses incurred Underwriting expenses Underwriting loss (66) (61) (30) (60) (36) Net investment income Operating income (loss) before net realized capital gains (losses) and other income (loss) 242 (54) Net realized capital gains (losses) (164) Other income (loss) 2 (4) (1) - - Pre-tax income (loss) $ 80 $ (15) $ 80 $ 181 $ 225 Total Chartis U.S. Net premiums written $ 3,879 $ 3,828 $ 4,359 $ 4,957 $ 4,128 Net premiums earned 4,417 4,492 4,616 4,689 4,482 Claims and claims adjustment expenses incurred 3,626 3,770 4,110 3,940 4,103 Underwriting expenses 1,189 1,096 1,033 1, Underwriting loss (398) (374) (527) (289) (600) Net investment income Operating income before net realized capital gains (losses) and other income (loss) Net realized capital gains (losses) (164) Other income (loss) 2 (4) (1) - - Pre-tax income $ 406 $ 394 $ 276 $ 657 $ 340 See Accompanying Notes on Page 21 16

19 Chartis International Operating Statistics 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 4,941 $ 4,020 $ 4,300 $ 4,210 $ 5,038 Net premiums earned 4,271 4,470 4,427 4,344 4,169 Claims and claims adjustment expenses incurred (1) 2,283 2,905 2,728 2,740 3,653 Underwriting expenses 1,770 1,827 1,704 1,674 1,519 Underwriting profit (loss) 218 (262) (5) (70) (1,003) Net investment income Interest and dividends Alternative investments (9) Mutual funds 8 (4) (15) 5 45 Other investment income (3) Investment expense (13) (12) (19) (11) (17) Total Operating income (loss), before net realized capital gains (losses) (698) Net realized capital gains (losses) (49) (16) Pre-tax income (loss) $ 504 $ 423 $ 275 $ 169 $ (714) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Foreign exchange effect on Chartis International's premium: Change in net premiums written Increase / (decrease) in original currency (4) (3.2)% 7.8 % 2.1 % 27.7 % 28.1 % Foreign exchange effect Increase / (decrease) as reported in US $ (1.8)% 11.8 % 11.5 % 37.9 % 30.6 % Pre-tax catastrophe-related losses and prior year loss reserve development: Pre-tax catastrophe-related losses $ 1 $ 287 $ 125 $ 128 $ 1,159 Reinstatement premium related to catastrophes - (12) (27) Net prior year adverse (favorable) loss development (5) (109) (84) 17 (4) (50) See Accompanying Notes on Page 21 17

20 Chartis International - Operating Statistics by Business Commercial Insurance 1Q12 4Q11 3Q11 2Q11 1Q11 Net premiums written $ 2,239 $ 1,309 $ 1,673 $ 1,567 $ 2,398 Net premiums earned 1,652 1,723 1,824 1,798 1,625 Claims and claims adjustment expenses incurred 798 1,336 1,160 1,156 1,660 Underwriting expenses Underwriting profit (loss) 203 (244) (576) Net investment income Operating income (loss) $ 327 $ (106) $ 211 $ 230 $ (446) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Consumer Insurance Net premiums written $ 2,702 $ 2,711 $ 2,627 $ 2,643 $ 2,640 Net premiums earned 2,616 2,746 2,603 2,546 2,545 Claims and claims adjustment expenses incurred 1,484 1,568 1,562 1,560 1,980 Underwriting expenses 1,061 1,152 1,085 1, Underwriting profit (loss) (44) (82) (371) Net investment income Operating income (loss) $ 146 $ 92 $ 19 $ (18) $ (308) Underwriting ratios: Loss ratio Expense ratio Combined ratio Combined ratio excluding significant current year catastrophe-related losses Combined ratio excluding significant current year catastrophe-related losses and prior year loss development Chartis Other Int'l Net premiums written $ - $ - $ - $ - $ - Net premiums earned (1) Claims and claims adjustment expenses incurred Underwriting expenses Underwriting loss (56) (44) (33) (78) (56) Net investment income Operating income before net realized capital gains (losses) Net realized capital gains (losses) (49) (16) Pre-tax income (loss) $ 31 $ 437 $ 45 $ (43) $ 40 Total Chartis Int'l Net premiums written $ 4,941 $ 4,020 $ 4,300 $ 4,210 $ 5,038 Net premiums earned 4,271 4,470 4,427 4,344 4,169 Claims and claims adjustment expenses incurred 2,283 2,905 2,728 2,740 3,653 Underwriting expenses 1,770 1,827 1,704 1,674 1,519 Underwriting profit (loss) 218 (262) (5) (70) (1,003) Net investment income Operating income (loss) before net realized capital gains (losses) (698) Net realized capital gains (losses) (49) (16) Pre-tax income (loss) $ 504 $ 423 $ 275 $ 169 $ (714) See Accompanying Notes on Page 21 18

21 Chartis Worldwide Net Premiums Written (NPW) by Line of Business & Region 1Q11 Worldwide NPW by Line of Business = $9,166 Commercial 63% and Consumer 37% 1Q12 Worldwide NPW by Line of Business = $8,820 Commercial 59% and Consumer 41% 11% 10% A&H 19% Personal Lines 11% 11% A&H 21% Personal Lines 11% 19% Casualty Financial Lines 10% 20% Casualty Financial Lines 30% Property 27% Property Specialty Specialty 1Q11 Worldwide NPW by Region 1Q12 Worldwide NPW by Region 27% 47% The Americas Asia Pacific 25% 47% The Americas Asia Pacific 26% EMEA 28% EMEA 1 19

22 Chartis U.S. and International Net Premiums Written (NPW) by Line of Business 1Q11 U.S. NPW by Line of Business = $4,128 1Q12 U.S. NPW by Line of Business = $3,879 9% 14% 11% A&H 9% 10% 47% Personal Lines Casualty Financial Lines Property 11% 12% 11% A&H 11% 12% 43% Personal Lines Casualty Financial Lines Property Specialty Specialty 1Q11 International NPW by Line of Business = $5,038 1Q12 International NPW by Line of Business = $4,941 10% A&H 11% A&H 13% 28% Personal Lines 11% 28% Personal Lines 8% Casualty Financial Lines 9% Casualty Financial Lines 16% 25% Property 14% 27% Property Specialty Specialty 2 20

American International Group, Inc.

American International Group, Inc. Financial Supplement Fourth Quarter 2013 All financial information in this document is unaudited. This report should be read in conjunction with AIG s Annual Report on Form 10-K for the year ended December

More information

American International Group, Inc.

American International Group, Inc. Financial Supplement First Quarter 2016 All financial information in this document is unaudited. This report should be read in conjunction with AIG s Report on Form 10-Q for the quarter ended March 31,

More information

American International Group, Inc. Financial Supplement First Quarter 2010

American International Group, Inc. Financial Supplement First Quarter 2010 Financial Supplement First Quarter 2010 This report should be read in conjunction with AIG's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010 filed with the Securities and Exchange Commission.

More information

American International Group, Inc. Financial Supplement Fourth Quarter 2005

American International Group, Inc. Financial Supplement Fourth Quarter 2005 Financial Supplement Fourth Quarter 2005 This report should be read in conjunction with AIG's Annual Report on Form 10-K for the year ended December 31, 2005 filed with the Securities and Exchange Commission.

More information

American International Group, Inc. First Quarter 2013 Results Conference Call Presentation. May 3, 2013

American International Group, Inc. First Quarter 2013 Results Conference Call Presentation. May 3, 2013 American International Group, Inc. First Quarter 2013 Results Conference Call Presentation May 3, 2013 Cautionary Statement Regarding Projections and Other Information About Future Events This document

More information

AIG REPORTS FIRST QUARTER 2015 NET INCOME OF $2.5 BILLION AND DILUTED EARNINGS PER SHARE OF $1.78

AIG REPORTS FIRST QUARTER 2015 NET INCOME OF $2.5 BILLION AND DILUTED EARNINGS PER SHARE OF $1.78 Press Release AIG 175 Water Street New York, NY 10038 www.aig.com Contacts: Liz Werner (Investors): 212-770-7074; elizabeth.werner@aig.com Fernando Melon (Investors): 212-770-4630; fernando.melon@aig.com

More information

American International Group, Inc.

American International Group, Inc. American International Group, Inc. Conference Call Presentation Third Quarter 2015 November 3, 2015 Cautionary Statement Regarding Forward Looking Information This document and the remarks made within

More information

American International Group, Inc.

American International Group, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended

More information

AIG REPORTS FIRST QUARTER 2016 AFTER-TAX OPERATING INCOME OF $773 MILLION OR $0.65 PER DILUTED SHARE

AIG REPORTS FIRST QUARTER 2016 AFTER-TAX OPERATING INCOME OF $773 MILLION OR $0.65 PER DILUTED SHARE Press Release AIG 175 Water Street New York, NY 10038 www.aig.com Contacts: Liz Werner (Investors): 212-770-7074; elizabeth.werner@aig.com Fernando Melon (Investors): 212-770-4630; fernando.melon@aig.com

More information

News from The Chubb Corporation

News from The Chubb Corporation News from The Chubb Corporation The Chubb Corporation 15 Mountain View Road P.O. Box 1615 Warren, New Jersey 07061-1615 Telephone: 908-903-2000 Chubb Reports Fourth Quarter Net Income per Share of $2.35;

More information

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503

More information

EMC Insurance Group Inc. Reports 2014 Fourth Quarter and Year-End Results and 2015 Operating Income Guidance

EMC Insurance Group Inc. Reports 2014 Fourth Quarter and Year-End Results and 2015 Operating Income Guidance FOR IMMEDIATE RELEASE Contact: Steve Walsh (Investors) 515-345-2515 Lisa Hamilton (Media) 515-345-7589 EMC Insurance Group Inc. Reports 2014 Fourth Quarter and Year-End Results and 2015 Operating Income

More information

News from The Chubb Corporation

News from The Chubb Corporation News from The Chubb Corporation The Chubb Corporation 15 Mountain View Road P.O. Box 1615 Warren, New Jersey 07061-1615 Telephone: 908-903-2000 FOR IMMEDIATE RELEASE Chubb Reports Second Quarter Net Income

More information

Charlene Hamrah (Investment Community) (212) 770-7074 Joe Norton (News Media) (212) 770-3144

Charlene Hamrah (Investment Community) (212) 770-7074 Joe Norton (News Media) (212) 770-3144 Contact: Charlene Hamrah (Investment Community) (212) 770-7074 Joe Norton (News Media) (212) 770-3144 AIG REPORTS FIRST QUARTER 2006 NET INCOME OF $3.20 BILLION NEW YORK, NY, May 10, 2006 American International

More information

Protective Reports First Quarter of 2011 Results and Announces Completion of Coinsurance Agreement

Protective Reports First Quarter of 2011 Results and Announces Completion of Coinsurance Agreement Protective Life Corporation Post Office Box 2606 Birmingham, AL 35202 205-268-1000 FOR IMMEDIATE RELEASE Protective Reports First Quarter of 2011 Results and Announces Completion of Coinsurance Agreement

More information

News from The Chubb Corporation

News from The Chubb Corporation News from The Chubb Corporation The Chubb Corporation 15 Mountain View Road P.O. Box 1615 Warren, New Jersey 07061-1615 Telephone: 908-903-2000 FOR IMMEDIATE RELEASE Chubb Reports 4th Quarter Net Income

More information

VALIDUS ANNOUNCES 2015 FULL YEAR NET INCOME OF $374.9 MILLION 2015 NET OPERATING RETURN ON AVERAGE EQUITY OF 11.3%

VALIDUS ANNOUNCES 2015 FULL YEAR NET INCOME OF $374.9 MILLION 2015 NET OPERATING RETURN ON AVERAGE EQUITY OF 11.3% VALIDUS ANNOUNCES 2015 FULL YEAR NET INCOME OF $374.9 MILLION 2015 NET OPERATING RETURN ON AVERAGE EQUITY OF 11.3% BOOK VALUE PER DILUTED COMMON SHARE OF $42.33 AT DECEMBER 31, 2015 Pembroke, Bermuda,

More information

ONEBEACON REPORTS $11.13 BOOK VALUE PER SHARE

ONEBEACON REPORTS $11.13 BOOK VALUE PER SHARE NEWS RELEASE For Immediate Release Investor Relations Media Contact: Paul McDonough Carmen Duarte Phone: 952.852.6020 781.332.7268 Email: ir@onebeacon.com cduarte@onebeacon.com Website: www.onebeacon.com

More information

Forward Looking Statements 2. Condensed Consolidated Financial Statements

Forward Looking Statements 2. Condensed Consolidated Financial Statements Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of September 30, 2015 and December 31, 2014 and Results of Operations for the Nine Months Ended

More information

ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland

ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland acegroup.com @ACEGroup NEWS RELEASE ACE Reports First Quarter Operating Income of $745 Million or $2.25 per Share, P&C Combined Ratio of 88.4% and Operating

More information

W. R. Berkley Corporation Reports Record Net Income of $545 Million for 2005; Fourth Quarter 2005 Net Income Up 44% to $167 Million

W. R. Berkley Corporation Reports Record Net Income of $545 Million for 2005; Fourth Quarter 2005 Net Income Up 44% to $167 Million W. R. Berkley Corporation Reports Record Net Income of $545 Million for 2005; Fourth Quarter 2005 Net Income Up 44% to $167 Million GREENWICH, Conn.--(BUSINESS WIRE)--Feb. 13, 2006--W. R. Berkley Corporation

More information

Forward Looking Statements 2. Condensed Consolidated Financial Statements

Forward Looking Statements 2. Condensed Consolidated Financial Statements Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of March 31, 2015 and December 31, 2014 and Results of Operations for the Three Months Ended

More information

METLIFE ANNOUNCES FIRST QUARTER 2015 RESULTS

METLIFE ANNOUNCES FIRST QUARTER 2015 RESULTS 1095 Avenue of the Americas New York, NY 10036 Contacts: For Media: John Calagna (212) 578-6252 For Investors: Edward Spehar (212) 578-7888 METLIFE ANNOUNCES FIRST QUARTER 2015 RESULTS NEW YORK, May 6,

More information

American International Group, Inc.

American International Group, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period

More information

CONTACTS: PRESS RELATIONS BETSY CASTENIR (212) 339-3424 INVESTOR RELATIONS ROBERT TUCKER (212) 339-0861 FSA HOLDINGS FIRST QUARTER 2004 RESULTS

CONTACTS: PRESS RELATIONS BETSY CASTENIR (212) 339-3424 INVESTOR RELATIONS ROBERT TUCKER (212) 339-0861 FSA HOLDINGS FIRST QUARTER 2004 RESULTS FOR IMMEDIATE RELEASE CONTACTS: PRESS RELATIONS BETSY CASTENIR (212) 339-3424 INVESTOR RELATIONS ROBERT TUCKER (212) 339-0861 FSA HOLDINGS FIRST QUARTER 2004 RESULTS NET INCOME $84 Million in Q1 04 (+28%

More information

News Release. new.chubb.com @Chubb. Chubb Limited Bärengasse 32 CH-8001 Zurich Switzerland

News Release. new.chubb.com @Chubb. Chubb Limited Bärengasse 32 CH-8001 Zurich Switzerland Chubb Limited Bärengasse 32 CH-8001 Zurich Switzerland new.chubb.com @Chubb News Release Chubb Limited Reports Legacy ACE Operating Income of $780 Million for the Fourth Quarter and $3.2 Billion for the

More information

INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited)

INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) March 31,2000 TABLE OF CONTENTS CONSOLIDATED INCOME 2 CONSOLIDATED CONTINUITY OF EQUITY 3 CONSOLIDATED

More information

TransUnion Reports Third Quarter 2014 Results

TransUnion Reports Third Quarter 2014 Results TransUnion Reports Third Quarter 2014 Results Revenue of $338 million, an increase of 13 percent on a GAAP basis (14 percent on a constant currency basis) compared with the third quarter of 2013 Adjusted

More information

Conseco reports fourth consecutive profitable quarter and year-end 2009 results

Conseco reports fourth consecutive profitable quarter and year-end 2009 results For Release Immediate Contacts (News Media) Tony Zehnder, Corporate Communications 312.396.7086 (Investors) Scott Galovic, Investor Relations 317.817.3228 Conseco reports fourth consecutive profitable

More information

Forward Looking Statements 2. Condensed Consolidated Financial Statements

Forward Looking Statements 2. Condensed Consolidated Financial Statements Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of March 31, 2016 and December 31, 2015 and Results of Operations for the Three Months Ended

More information

EMC Insurance Group Inc. Reports 2013 Third Quarter and Nine Month Results and

EMC Insurance Group Inc. Reports 2013 Third Quarter and Nine Month Results and 2013 Third Quarter Report EMC Insurance Group Inc. Reports 2013 Third Quarter and Nine Month Results and Increases 2013 Operating Income Guidance Third Quarter Ended September 30, 2013 Operating Income

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2010 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

Tower International Reports Solid Third Quarter And Raises Full Year Outlook

Tower International Reports Solid Third Quarter And Raises Full Year Outlook FOR IMMEDIATE RELEASE Tower International Reports Solid Third Quarter And Raises Full Year Outlook LIVONIA, Mich., November 3, 2011 Tower International, Inc. [NYSE: TOWR], a leading integrated global manufacturer

More information

Kansas City 2Life Insurance Company

Kansas City 2Life Insurance Company Kansas City 2Life Insurance Company 2012 Second Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K CURRENT REPORT. Date of Report (Date of earliest event reported): May 5, 2016

SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K CURRENT REPORT. Date of Report (Date of earliest event reported): May 5, 2016 IPCC 8-K 5/5/2016 Section 1: 8-K (8-K) SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q È QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended

More information

HSBC FINANCE CORPORATION

HSBC FINANCE CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period

More information

ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland

ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland ACE Limited Bärengasse 32 CH-8001 Zurich Switzerland acegroup.com @ACEGroup NEWS RELEASE ACE Reports Second Quarter Operating Income of $788 Million or $2.40 per Share, P&C Combined Ratio of 87.7% and

More information

Statistical Information Package Q4 2015

Statistical Information Package Q4 2015 Statistical Information Package Q4 2015 TABLE OF CONTENTS Page Page Financial Reporting Structure 1 Asset Information Notes to Readers 2 Asset Composition and Quality Financial Highlights 3 Portfolio Composition

More information

ASPEN INSURANCE HOLDINGS LIMITED REPORTS SECOND QUARTER 2006 EARNINGS. Net profit of $101.8 million for three months ended June 30, 2006

ASPEN INSURANCE HOLDINGS LIMITED REPORTS SECOND QUARTER 2006 EARNINGS. Net profit of $101.8 million for three months ended June 30, 2006 FOR IMMEDIATE RELEASE Investor Contact: Aspen Insurance Holdings Limited T 441-297-9382 Noah Fields, Head of Investor Relations Julian Cusack, Chief Financial Officer European Press Contact: The Maitland

More information

Kansas City 2Life Insurance Company

Kansas City 2Life Insurance Company Kansas City 2Life Insurance Company 2011 Second Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

Financial Information Package for the Fourth Quarter 2004. As at December 31, 2004

Financial Information Package for the Fourth Quarter 2004. As at December 31, 2004 Financial Information Package for the Fourth Quarter 2004 As at December 31, 2004 TABLE OF CONTENTS PAGE HIGHLIGHTS 1 PROFITABILITY 3 Profit (2003 restated) Return on common shareholders' equity (2003

More information

ACE BERMUDA INSURANCE LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2014 AND 2013

ACE BERMUDA INSURANCE LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2014 AND 2013 CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2014 AND 2013 CONSOLIDATED BALANCE SHEETS December 31, 2014 and 2013 2014 2013 (in thousands of U.S. dollars, except share and per share data) Assets Investments

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) Three months ended Nine months ended 2013 2012 2013 2012 sales $ 2,067 $ 2,038 $ 5,863 $ 5,866 Cost of sales 1,166 1,149

More information

Kansas City 1Life Insurance Company

Kansas City 1Life Insurance Company Kansas City 1Life Insurance Company 2011 First Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

Goldman Sachs U.S. Financial Services Conference 2012

Goldman Sachs U.S. Financial Services Conference 2012 Goldman Sachs U.S. Financial Services Conference 2012 Steven A. Kandarian Chairman, President & Chief Executive Officer December 4, 2012 Cautionary Statement on Forward Looking Statements and Non-GAAP

More information

TIME WARNER CABLE INC. CONSOLIDATED BALANCE SHEET (Unaudited)

TIME WARNER CABLE INC. CONSOLIDATED BALANCE SHEET (Unaudited) CONSOLIDATED BALANCE SHEET June 30, December 31, 2011 2010 (in millions) ASSETS Current assets: Cash and equivalents...$ 3,510 $ 3,047 Receivables, less allowances of $86 million and $74 million as of

More information

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK 972-569-3627 McKinney, Texas 75070

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK 972-569-3627 McKinney, Texas 75070 News Release Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK 972-569-3627 McKinney, Texas 75070 TORCHMARK CORPORATION REPORTS FOURTH QUARTER 2013 RESULTS McKinney, TX, February 3, 2014

More information

Protective Life Corporation

Protective Life Corporation August 4, 2011 Protective Life Corporation 2Q11 Earnings Results Conference Call Presentation Introduction In addition to the information contained in this presentation, we have certain supplemental financial

More information

Verifone Reports Results for the Second Quarter of Fiscal 2016

Verifone Reports Results for the Second Quarter of Fiscal 2016 Verifone Reports Results for the Second Quarter of Fiscal 2016 SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results

More information

Third Quarter 2015 Financial Highlights:

Third Quarter 2015 Financial Highlights: DISCOVERY COMMUNICATIONS REPORTS THIRD QUARTER 2015 RESULTS, INCREASES BUYBACK AUTHORIZATION BY $2 BILLION AND ANNOUNCES RESUMPTION OF SHARE REPURCHASES BEGINNING IN FOURTH QUARTER 2015 Third Quarter 2015

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2012 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

United Fire & Casualty Company Reports Record Quarterly Earnings

United Fire & Casualty Company Reports Record Quarterly Earnings FOR IMMEDIATE RELEASE For: United Fire & Casualty Company 118 Second Avenue SE, PO Box 73909 Cedar Rapids, Iowa 52407-3909 Contact: John A. Rife, President/CEO, 319-399-5700 United Fire & Casualty Company

More information

GE Capital. Second quarter 2012 supplement

GE Capital. Second quarter 2012 supplement GE Capital Second quarter supplement Results are unaudited. This document contains forward-looking statements that is, statements related to future, not past, events. In this context, forward-looking statements

More information

FINANCIAL SUPPLEMENT December 31, 2015

FINANCIAL SUPPLEMENT December 31, 2015 FINANCIAL SUPPLEMENT December 31, 2015 Monster Worldwide, Inc. (together with its consolidated subsidiaries, the Company, Monster, we, our or us ) provides this supplement to assist investors in evaluating

More information

Quarterly Financial Supplement - 1Q 2016

Quarterly Financial Supplement - 1Q 2016 Quarterly Financial Supplement - 1Q 2016 Page # Consolidated Financial Summary... 1 Consolidated Income Statement Information... 2 Consolidated Financial Information and Statistical Data... 3 Consolidated

More information

KINGSTONE COMPANIES, INC.

KINGSTONE COMPANIES, INC. SECURITIES & EXCHANGE COMMISSION EDGAR FILING KINGSTONE COMPANIES, INC. Form: 10-Q Date Filed: 2015-11-12 Corporate Issuer CIK: 33992 Copyright 2015, Issuer Direct Corporation. All Right Reserved. Distribution

More information

Consolidated Financial Results April 1, 2001 - June 30, 2001

Consolidated Financial Results April 1, 2001 - June 30, 2001 Consolidated Financial Results April 1, 2001 - June 30, 2001 August 3, 2001 In preparing its consolidated financial information, ORIX Corporation and its subsidiaries have complied with accounting principles

More information

American International Group, Inc. Second Quarter 2008 Results Conference Call Presentation August 7, 2008

American International Group, Inc. Second Quarter 2008 Results Conference Call Presentation August 7, 2008 1 AIG F American International Group, Inc. Second Quarter 2008 Results Conference Call Presentation August 7, 2008 2 Cautionary Statement Regarding Projections and Other Information About Future Events

More information

FBL FINANCIAL GROUP INC

FBL FINANCIAL GROUP INC FBL FINANCIAL GROUP INC FORM 8-K (Unscheduled Material Events) Filed 4/28/2004 For Period Ending 4/28/2004 Address 5400 UNIVERSITY AVE WEST DES MOINES, Iowa 50266 Telephone 515-225-5400 CIK 0001012771

More information

First Quarter Highlights

First Quarter Highlights The Hanover Reports First Quarter Net Income of $1.46 per Diluted Share; Operating Income 1 of $1.32 per Diluted Share; Combined Ratio of 96.1% Including Catastrophe Impact of 2.0 points WORCESTER, Mass.,

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

Assurant Reports 2004 Net Income of $350.6 Million ($2.48 per Pro Forma Share), Net Operating Income of $345.0 Million ($2.44 per Pro Forma Share)

Assurant Reports 2004 Net Income of $350.6 Million ($2.48 per Pro Forma Share), Net Operating Income of $345.0 Million ($2.44 per Pro Forma Share) Press Contact: Investor Relations: Drew Guthrie Melissa Kivett Larry Cains Manager, Communications Vice President Senior Vice President and Media Relations Investor Relations Investor Relations Phone:

More information

MARKEL REPORTS 2015 FINANCIAL RESULTS

MARKEL REPORTS 2015 FINANCIAL RESULTS For more information contact: Bruce Kay Markel Corporation 804-747-0136 bkay@markelcorp.com FOR IMMEDIATE RELEASE MARKEL REPORTS 2015 FINANCIAL RESULTS Richmond, VA, February 10, 2016 --- Markel Corporation

More information

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583

More information

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK McKinney, Texas 75070

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK McKinney, Texas 75070 News Release Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK 972-569-3627 McKinney, Texas 75070 TORCHMARK CORPORATION REPORTS SECOND QUARTER 2012 RESULTS McKinney, TX, July 25, 2012 Torchmark

More information

GE Financial Assurance Holdings, Inc. (Exact name of registrant as specified in its charter)

GE Financial Assurance Holdings, Inc. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended

More information

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP)

Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) November 1, 2012 Sony Financial Holdings Inc. Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) Tokyo, November 1, 2012

More information

The Wawanesa Life Insurance Company. Financial Statements December 31, 2011

The Wawanesa Life Insurance Company. Financial Statements December 31, 2011 The Wawanesa Life Insurance Company Financial Statements February 21, 2012 Appointed Actuary s Report To the Shareholder and Policyholders of The Wawanesa Life Insurance Company I have valued the insurance

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended

More information

1Q 2014 Stockholder Supplement. May 7, 2014

1Q 2014 Stockholder Supplement. May 7, 2014 1Q 2014 Stockholder Supplement May 7, 2014 Safe Harbor Notice This presentation, other written or oral communications and our public documents to which we refer contain or incorporate by reference certain

More information

Sapiens results in the first quarter represent a solid start to achieving our financial targets for the full year.

Sapiens results in the first quarter represent a solid start to achieving our financial targets for the full year. Sapiens Reports 12% Year-Over-Year Increase in Quarterly Revenue to $41 Million Non-GAAP Quarterly Operating Profit Increased by 58.5% Year-Over-Year Holon, Israel, May 6, 2015 Sapiens International Corporation,

More information

Financial Review. 16 Selected Financial Data 18 Management s Discussion and Analysis of Financial Condition and Results of Operations

Financial Review. 16 Selected Financial Data 18 Management s Discussion and Analysis of Financial Condition and Results of Operations 2011 Financial Review 16 Selected Financial Data 18 Management s Discussion and Analysis of Financial Condition and Results of Operations 82 Quantitative and Qualitative Disclosures About Market Risk 90

More information

FLY LEASING REPORTS SECOND QUARTER 2010 FINANCIAL RESULTS AND REPURCHASE OF 1.4 MILLION SHARES

FLY LEASING REPORTS SECOND QUARTER 2010 FINANCIAL RESULTS AND REPURCHASE OF 1.4 MILLION SHARES FLY LEASING REPORTS SECOND QUARTER FINANCIAL RESULTS AND REPURCHASE OF 1.4 MILLION SHARES Dublin, Ireland, August 4, FLY Leasing Limited (NYSE: FLY) ( FLY ), a global lessor of modern, fuel-efficient commercial

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10 - Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10 - Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10 - Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTER ENDED JUNE 30,

More information

MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents

MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents Page # MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents 1. Quarterly Consolidated Financial Summary 2. Quarterly Consolidated Income Statement Information 3. Quarterly Consolidated Financial

More information

Year Ended December 31, 2011

Year Ended December 31, 2011 Cigna Reports Full Results Projects Strong Business Growth for 2012 BLOOMFIELD, Conn., February 02, 2012 - Cigna Corporation (NYSE: CI) today reported fourth quarter and full year results that included

More information

Morgan Stanley Reports First Quarter 2016:

Morgan Stanley Reports First Quarter 2016: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports First Quarter 2016: Net Revenues of $7.8 Billion and Earnings per Diluted Share of $0.55

More information

PROTECTIVE LIFE INSURANCE CO 10-Q. Quarterly report pursuant to sections 13 or 15(d) Filed on 11/14/2011 Filed Period 09/30/2011

PROTECTIVE LIFE INSURANCE CO 10-Q. Quarterly report pursuant to sections 13 or 15(d) Filed on 11/14/2011 Filed Period 09/30/2011 PROTECTIVE LIFE INSURANCE CO 10-Q Quarterly report pursuant to sections 13 or 15(d) Filed on 11/14/2011 Filed Period 09/30/2011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549

More information

JER INVESTORS TRUST INC. PROVIDES COMPANY UPDATE AND 2009 ANNUAL STATEMENT OF AFFAIRS

JER INVESTORS TRUST INC. PROVIDES COMPANY UPDATE AND 2009 ANNUAL STATEMENT OF AFFAIRS JER INVESTORS TRUST INC. PROVIDES COMPANY UPDATE AND ANNUAL STATEMENT OF AFFAIRS McLean, VA June 4, 2010: JER Investors Trust Inc. (Pink Sheets: JERT.PK, JERT or the Company ) released its annual Statement

More information

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK McKinney, Texas 75070

Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK McKinney, Texas 75070 News Release Contact: Mike Majors 3700 S. Stonebridge Drive NYSE Symbol: TMK 972-569-3627 McKinney, Texas 75070 TORCHMARK CORPORATION REPORTS SECOND QUARTER 2011 RESULTS McKinney, TX, July 27 2011 Torchmark

More information

Morgan Stanley Reports Fourth Quarter and Full Year 2015:

Morgan Stanley Reports Fourth Quarter and Full Year 2015: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports Fourth Quarter and Full Year 2015: Fourth Quarter Net Revenues of $7.7 Billion and Earnings

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; in millions, except per share amounts) Three months ended March 31, 2006 2005 As Restated Net sales $ 1,262 $ 1,050 Cost of sales 689 621 Gross margin

More information

Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results

Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results News Release Federal Home Loan Bank of San Francisco Announces Second Quarter Operating Results San Francisco, The Federal Home Loan Bank of San Francisco today announced that its net income for the second

More information

ODYSSEY RE HOLDINGS CORP. 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 5/6/2010 Filed Period 3/31/2010

ODYSSEY RE HOLDINGS CORP. 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 5/6/2010 Filed Period 3/31/2010 ODYSSEY RE HOLDINGS CORP 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 5/6/2010 Filed Period 3/31/2010 (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

More information

SAGICOR FINANCIAL CORPORATION

SAGICOR FINANCIAL CORPORATION Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the

More information

Walmart reports Q3 FY 16 EPS of $1.03, Walmart U.S. added $2.7 billion in sales, comp sales of 1.5%

Walmart reports Q3 FY 16 EPS of $1.03, Walmart U.S. added $2.7 billion in sales, comp sales of 1.5% Walmart reports Q3 FY 6 EPS of.03, Walmart U.S. added 2.7 billion in sales, comp sales of.5% Q3 diluted EPS from continuing operations was.03, benefited by approximately 0.04 from an adjustment for certain

More information

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results January 30, 2014 Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results - Leased record 43.7 million square feet in Q4 and 152 million square feet in 2013 - - Occupancy increased to 95.1

More information

NEWS RELEASE BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME OF $1.9 MILLION, OR $0.40 PER DILUTED SHARE SERIES A PREFERRED STOCK TO BE REDEEMED

NEWS RELEASE BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME OF $1.9 MILLION, OR $0.40 PER DILUTED SHARE SERIES A PREFERRED STOCK TO BE REDEEMED NEWS RELEASE FOR FURTHER INFORMATION: WEBSITE: www.bnccorp.com TIMOTHY J. FRANZ, CEO TELEPHONE: (612) 305-2213 DANIEL COLLINS, CFO TELEPHONE: (612) 305-2210 BNCCORP, INC. REPORTS THIRD QUARTER NET INCOME

More information

GENWORTH MI CANADA INC.

GENWORTH MI CANADA INC. Condensed Consolidated Interim Financial Statements (In Canadian dollars) GENWORTH MI CANADA INC. Three and six months ended June 30, 2015 and 2014 Condensed Consolidated Interim Statements of Financial

More information

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com Condensed Consolidated Interim Financial Statements Q4 2014 aegon.com The Hague, February 19, 2015 Table of contents Condensed consolidated income statement 2 Condensed consolidated statement of comprehensive

More information

James L. Dunn, Jr. Senior Vice President and Chief Financial Officer (602) 952-1200

James L. Dunn, Jr. Senior Vice President and Chief Financial Officer (602) 952-1200 Contact: James M. Powers, Jr. President and Chief Executive Officer (602) 952-1200 James L. Dunn, Jr. Senior Vice President and Chief Financial Officer (602) 952-1200 ilinc COMMUNICATIONS ANNOUNCES FISCAL

More information

Dumfries Mutual Insurance Company Financial Statements For the year ended December 31, 2010

Dumfries Mutual Insurance Company Financial Statements For the year ended December 31, 2010 Dumfries Mutual Insurance Company Financial Statements For the year ended December 31, 2010 Contents Independent Auditors' Report 2 Financial Statements Balance Sheet 3 Statement of Operations and Unappropriated

More information

Contact: Marcel Goldstein CSC PRESS RELEASE Corporate Public Relations August 6, 2013 CSC 703-641-3271 mgoldstein@csc.com

Contact: Marcel Goldstein CSC PRESS RELEASE Corporate Public Relations August 6, 2013 CSC 703-641-3271 mgoldstein@csc.com Contact: Marcel Goldstein CSC PRESS RELEASE Corporate Public Relations August 6, 2013 CSC 703-641-3271 mgoldstein@csc.com Steve Virostek Investor Relations CSC 703-641-3000 investorrelations@csc.com CSC

More information

AMERISAFE INC FORM 10-Q. (Quarterly Report) Filed 11/06/12 for the Period Ending 09/30/12

AMERISAFE INC FORM 10-Q. (Quarterly Report) Filed 11/06/12 for the Period Ending 09/30/12 AMERISAFE INC FORM 10-Q (Quarterly Report) Filed 11/06/12 for the Period Ending 09/30/12 Address 2301 HIGHWAY 190 WEST DERIDDER, LA 70634 Telephone 337-463-9052 CIK 0001018979 Symbol AMSF SIC Code 6331

More information

Kansas City 4Life Insurance Company

Kansas City 4Life Insurance Company Kansas City 4Life Insurance Company 2009 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office

More information

(Unofficial Translation) Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2011 February 13, 2012

(Unofficial Translation) Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2011 February 13, 2012 (Unofficial Translation) Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2011 February 13, 2012 Company Name: The Dai-ichi Life Insurance Company, Limited Stock exchange

More information

First Quarter Report January 31, 2015

First Quarter Report January 31, 2015 First Quarter Report January 31, 2015 PWC CAPITAL INC. ANNOUNCES RESULTS FOR ITS FIRST QUARTER ENDED JANUARY 31, 2015 FIRST QUARTER SUMMARY (1) (compared to the same periods in the prior year unless otherwise

More information

Starr Insurance & Reinsurance Limited and Subsidiaries

Starr Insurance & Reinsurance Limited and Subsidiaries Starr Insurance & Reinsurance Limited and Subsidiaries Financial Statements Table of Contents Page Independent Auditors Report 1 Financial Statements Consolidated Balance Sheet 2 Consolidated Statement

More information