8-KOther Events

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Jan 23, 2018)

Filed January 23, 2018For Securities:AIG

Summary

American International Group, Inc. (AIG) has announced a significant reorganization of its business segments, effective in the fourth quarter of 2017. This filing, an 8-K dated January 23, 2018, details the shift from a previous structure (Commercial Insurance, Consumer Insurance, Other Operations, Legacy Portfolio) to a new reporting framework. The updated structure will present results across two primary reportable segments: General Insurance and Life and Retirement, alongside Other Operations and a Legacy Portfolio. This strategic change aims to provide a clearer reflection of AIG's evolving business operations and management's view. Investors should note that while the segment reporting has changed, the company explicitly states that these changes have had no impact on its consolidated financial statements (Balance Sheets, Statements of Income, or Cash Flows). AIG has also updated its Third Quarter 2017 Financial Supplement to reflect these revised historical segment results.

Key Highlights

  • 1AIG has reorganized its reportable business segments effective Q4 2017.
  • 2The new segment structure consists of General Insurance and Life and Retirement.
  • 3This reorganization replaces the previous structure of Commercial Insurance and Consumer Insurance.
  • 4The company has also updated its Third Quarter 2017 Financial Supplement to reflect revised historical segment data.
  • 5The segment reporting changes do not impact AIG's overall Consolidated Balance Sheets, Statements of Income, or Statements of Cash Flows.
  • 6The Legacy Portfolio remains as a separate category for run-off insurance lines and legacy investments.
  • 7The updated segment structure aims to better align with the company's operational focus and management's perspective.

Frequently Asked Questions

The primary purpose of this 8-K filing is to inform investors about American International Group, Inc.'s (AIG) reorganization of its business segments and to announce the updated presentation of its financial results reflecting this new structure, effective from the fourth quarter of 2017.

AIG will now report its results through two main reportable segments: General Insurance and Life and Retirement. Additionally, there will be an Other Operations category and a Legacy Portfolio.

No, the company explicitly states that these segment reporting changes have had no impact on AIG's Consolidated Balance Sheets, Consolidated Statements of Income, or Consolidated Statements of Cash Flows. The changes are purely for reporting and organizational clarity.

The revised historical segment results are available in AIG's updated Third Quarter 2017 Financial Supplement, which can be found on the company's website at www.aig.com.