American International Group Inc. (NYSE:AIG) has reported a large loss for the fourth quarter of 2009, but the domestic life and retirement business took in more deposits and is reporting a pre-tax profit.
American International Group Inc., New York (NYSE:AIG)
4 Q 2009 Results
NET INCOME: $9 billion loss
OTHER-THAN-TEMPORARY INVESTMENT LOSSES ON SECURITIES AVAILABLE FOR SALE: $916 million loss
OTHER REALIZED CAPITAL CHANGES: $900 million gain
UNREALIZED MARKET VALUATION CHANGE ON AIG FINANCIAL PRODUCTS SUPER SENIOR CREDIT DEFAULT SWAPS PORTFOLIO: $2.2 billion gain
REVENUE: $24 billion
4 Q 2008 Results
NET INCOME: $63 billion loss
OTHER-THAN-TEMPORARY INVESTMENT LOSSES ON SECURITIES AVAILABLE FOR SALE: $17 billion loss
OTHER REALIZED CAPITAL CHANGES: $6.1 billion loss
UNREALIZED MARKET VALUATION CHANGE ON AIG FINANCIAL PRODUCTS SUPER SENIOR CREDIT DEFAULT SWAPS PORTFOLIO: $9.5 billion loss
REVENUE: Negative $24 billion
AIG DOMESTIC LIFE AND RETIREMENT
4 Q 2009 Results
PREMIUMS, DEPOSITS AND OTHER CONSIDERATIONS: $5.4 billion
OPERATING INCOME BEFORE NET REALIZED CAPITAL CHANGE: $1 billion
NET REALIZED CAPITAL CHANGE: $364 million loss
PRETAX NET INCOME: $670 million
4 Q 2008 Results
PREMIUMS, DEPOSITS AND OTHER CONSIDERATIONS: $5.1 billion
OPERATING INCOME BEFORE NET REALIZED CAPITAL CHANGE: $835 million loss
NET REALIZED CAPITAL CHANGE: $14 billion loss
PRETAX NET INCOME: $15 billion loss
- AIG is including $141 million in other-than-temporary impairment losses in "other comprehensive income" rather than including it in net income.
- Total domestic life and retirement assets under management increased 7.7%, to $231 billion.
- Domestic life sales and deposits fell to $531 million in the fourth quarter, down from $789 million in the fourth quarter of 2008. But sales of variable universal life increased more than 12%, to $9 million. The unit's sales of fixed, runoff and payout annuities fell about 23%, to $430 million.
-Domestic retirement unit premiums, deposits and other considerations from individual fixed annuities increased 54%, to $1.9 billion.
- The foreign life and retirement business is reporting $1.3 billion in pretax income for the quarter, up from a $3.4 billion loss for the fourth quarter of 2008.
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Other recent earnings reports:
Conseco Inc., Carmel, Ind. (NYSE:CNO)
4 Q 2009 Results
NET INCOME: $18 million
OTHER-THAN-TEMPORARY INVESTMENT LOSSES: $61 million loss
REVENUE: $1.1 billion
