8-KOther Events

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Jan 28, 2015)

Filed January 28, 2015For Securities:AIG

Summary

This 8-K filing from American International Group, Inc. (AIG) announces a significant change in its reporting structure, effective for the fourth quarter of 2014. Previously, AIG reported results through two main segments: AIG Property Casualty and AIG Life and Retirement. The company has now reorganized these into two primary reportable segments: Commercial Insurance and Consumer Insurance. A new 'Corporate and Other' category will house businesses and items not allocated to these core segments, including previously reported runoff insurance businesses.

Key Highlights

  • 1AIG has implemented a new operating and reporting structure, effective Q4 2014.
  • 2The previous AIG Property Casualty and AIG Life and Retirement segments have been consolidated.
  • 3The new reporting structure features two primary reportable segments: Commercial Insurance and Consumer Insurance.
  • 4A 'Corporate and Other' category has been established to manage unallocated businesses and runoff insurance operations.
  • 5The Commercial Insurance segment now encompasses Property Casualty, Mortgage Guaranty, and Institutional Markets.
  • 6The Consumer Insurance segment includes Retirement, Life, and Personal Insurance businesses.
  • 7AIG has updated its Financial Supplement to reflect these revised historical segment results.

Frequently Asked Questions

This 8-K filing is primarily to inform investors about AIG's change in its financial reporting structure. The company has reorganized its business segments for a clearer presentation of its operations starting from the fourth quarter of 2014.

Previously, AIG reported results through 'AIG Property Casualty' and 'AIG Life and Retirement'. The new structure consolidates these into two main segments: 'Commercial Insurance' and 'Consumer Insurance', with a new 'Corporate and Other' category for residual businesses.

AIG has updated its Financial Supplement to show revised historical segment results for periods ending in 2013 and 2014. This updated supplement is available on AIG's website at www.aig.com.

The Commercial Insurance segment now includes Property Casualty (previously part of AIG Property Casualty's Commercial segment), Mortgage Guaranty (previously in Corporate and Other), and Institutional Markets (previously within AIG Life and Retirement's Institutional segment).