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AMERICAN INTERNATIONAL GROUP, INC. Annual Report (Amendment), Year Ended Dec 31, 2011

Filing Date
Filed February 27, 2012
Period End
December 31, 2011
Security
AIG
In the record · 2016–202610-K1210-Q328-K214

AIG filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 214 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. Material agreement8-K · Nov ’19Nov ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Nov ’25Nov ’25

01—Abstract

Summary

Summary of the 10-K/A filed February 27, 2012. Cited figures are marked; the original filing is the authoritative source.

This filing is an amendment to the 2011 Annual Report for AMERICAN INTERNATIONAL GROUP, INC. (AIG).

The amendment primarily provides audited financial statements for AIA Group Limited, a subsidiary, for the year ended November 30, 2011. The core financial performance for AIG itself is not detailed within this specific amendment, as it focuses on supplementary subsidiary information. Investors should note that AIA Group reported a net profit of $1.608 billiona for the year ended November 30, 2011, a decrease from $2.710 billion in the prior year.

Revenue also declined to $14.388 billionb from $18.394 billion in the previous year, reflecting a challenging period for the Asian market operations. The company's financial position showed total assets of $114.461 billion and total liabilities of $93.046 billion, resulting in total equity of $21.415 billion as of November 30, 2011. Key highlights from AIA Group's financial statements include a significant increase in deferred acquisition and origination costs to $12.818 billion, indicating substantial new business acquisition.

The company's investment portfolio remains substantial, with debt securities and equity securities totaling $67.952 billionc and $19.012 billion, respectively. The filing also details various risk management practices and sensitivities, including exposure to market and credit risks. The solvency ratios for AIA Co. and AIA-B were robust at 311% and 297% respectively, well above regulatory minimums.

02—Key points

Key Highlights

  1. AIA Group Limited reported a net profit of $1.608 billion for the year ended November 30, 2011, down from $2.710 billion in 2010.
  2. Total revenue for AIA Group decreased to $14.388 billion in 2011 from $18.394 billion in 2010.
  3. Deferred acquisition and origination costs increased to $12.818 billion as of November 30, 2011.
  4. The financial statements for AIA Group show total assets of $114.461 billion and total liabilities of $93.046 billion, with total equity of $21.415 billion as of November 30, 2011.
  5. AIG's common stock had an aggregate market value of approximately $12.986 billion as of January 31, 2012, based on shares held by non-affiliates.
  6. Solvency ratios for key subsidiaries AIA Co. and AIA-B remained strong, at 311% and 297% respectively, exceeding regulatory requirements.
  7. The filing indicates a proposed final dividend of 22 Hong Kong cents per share.

03—One dollar

04—Financials

Financial Highlights

Figures from 10-K/AFY2011filed February 27, 2012
Revenue$65.11BNet Income$20.62B31.7% Net MarginEPS (Diluted)$11.01Total Assets$553.05BCash & Equivalents$1.47BFree Cash Flow-$81.00M

Financial Statements

FY2011 against FY2010

Line itemFY2011FY2010Change
Revenue$65.11B$72.83B−10.6%
SG&A Expenses$8.46B$10.16B−16.8%
Operating Income$17.36B$11.08B+56.7%
Interest Expense$2.44B$6.74B−63.7%
Net Income$20.62B$10.06B+105.0%
EPS (Basic)$11.01——
EPS (Diluted)$11.01——
Shares Outstanding (Basic)1.80B136.59M+1217.4%
Shares Outstanding (Diluted)1.80B136.65M+1216.8%

05—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 10-K/A filing?

    This filing is an amendment to AIG's 2011 Annual Report on Form 10-K. Its primary purpose is to include audited financial statements for its subsidiary, AIA Group Limited, for the year ended November 30, 2011, as required by regulations.

  2. How did AIA Group perform financially in the year ended November 30, 2011?

    AIA Group reported a net profit of $1.608 billion, a decrease from $2.710 billion in the prior year. Revenue also decreased to $14.388 billion from $18.394 billion, primarily reflecting challenging market conditions in the Asia Pacific region.

  3. What is the financial health of AIA Group based on its balance sheet?

    As of November 30, 2011, AIA Group had total assets of $114.461 billion and total liabilities of $93.046 billion, resulting in total equity of $21.415 billion. The company maintained strong solvency ratios, indicating a solid financial position.

  4. What are the key risk management aspects disclosed in the filing?

    The filing details AIG's risk management framework, focusing on insurance risk (product design, underwriting, lapse, and claims risk), credit risk (from investments and counterparties), market risk (interest rate, equity, foreign exchange), and liquidity risk. The company employs various strategies and sensitivity analyses to manage these exposures.

06—Continue

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