AIG 10-K Annual Report Dec. 31, 2018 | Alphaminr
AMERICAN INTERNATIONAL GROUP INC

AIG 10-K Fiscal year ended Dec. 31, 2018

AMERICAN INTERNATIONAL GROUP INC
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TABLE OF CONTENTS
Part IItem 1 | BusinessItem 1 | Business | AigItem 7. Md&aItem 1A | Risk FactorsItem 7. Md&a Enterprise Risk Management Insurance Risks Reinsurance Activities Reinsurance RecoverableItem 7. Md&a Liquidity and Capital ResourcesItem 1B | Unresolved Staff CommentsItem 2 | PropertiesItem 3 | Legal ProceedingsItem 4 | Mine Safety DisclosuresItem 5 | Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesPart IIItem 6 | Selected Financial DataItem 7 | Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7 | Index To Item 7Item 7 | Use Of Non-gaap MeasuresItem 7 | Critical Accounting EstimatesItem 7 | Executive SummaryItem 7 | Consolidated Results Of OperationsItem 7 | Business Segment Operations | General InsuranceItem 7 | Business Segment Operations | Life and RetirementItem 7 | Business Segment Operations | Other OperationsItem 7 | Business Segment Operations | Legacy PortfolioItem 7 | InvestmentsNote 6 To The Consolidated Financial StatementsItem 7 | Insurance ReservesItem 7 | Liquidity and Capital ResourcesItem 7 | Enterprise Risk ManagementItem 7A | Quantitative and Qualitative Disclosures About Market RiskItem 8 | Financial Statements and Supplementary DataItem 8 | Report Of Independent Registered Public Accounting FirmItem 8 | Notes To Consolidated Financial Statements | 1. Basis Of PresentationItem 8 | Notes To Consolidated Financial Statements | 2. Summary Of Significant Accounting PoliciesNote 6. InvestmentsNote 7. Lending ActivitiesNote 8. ReinsuranceNote 9. Deferred Policy Acquisition CostsNote 10. Variable Interest EntitiesNote 11. Derivatives and Hedge AccountingNote 12. Goodwill and Other Intangible AssetsNote 13. Insurance LiabilitiesNote 14. Variable Life and Annuity ContractsNote 15. DebtNote 16. Contingencies, Commitments and GuaranteesNote 18. Earnings Per ShareNote 23. Income TaxesItem 8 | Notes To Consolidated Financial Statements | 3. Segment InformationItem 8 | Notes To Consolidated Financial Statements | 4. Business CombinationItem 8 | Notes To Consolidated Financial Statements | 5. Fair Value MeasurementsItem 8 | Notes To Consolidated Financial Statements | 6. InvestmentsItem 8 | Notes To Consolidated Financial Statements | 7. Lending ActivitiesItem 8 | Notes To Consolidated Financial Statements | 8. ReinsuranceItem 8 | Notes To Consolidated Financial Statements | 9. Deferred Policy Acquisition CostsItem 8 | Notes To Consolidated Financial Statements | 10. Variable Interest EntitiesItem 8 | Notes To Consolidated Financial Statements | 11. Derivatives and Hedge AccountingItem 8 | Notes To Consolidated Financial Statements | 12. Goodwill and Other Intangible AssetsItem 8 | Notes To Consolidated Financial Statements | 13. Insurance LiabilitiesItem 8 | Notes To Consolidated Financial Statements | 14. Variable Life and Annuity ContractsItem 8 | Notes To Consolidated Financial Statements | 15. DebtItem 8 | Notes To Consolidated Financial Statements | 16. Contingencies, Commitments and GuaranteesItem 8 | Notes To Consolidated Financial Statements | 17. EquityItem 8 | Notes To Consolidated Financial Statements | 18. Earnings Per ShareItem 8 | Notes To Consolidated Financial Statements | 19. Statutory Financial Data and RestrictionsItem 8 | Notes To Consolidated Financial Statements | 20. Share-based Compensation PlansItem 8 | Notes To Consolidated Financial Statements | 21. Employee BenefitsItem 8 | Notes To Consolidated Financial Statements | 23. Income TaxesItem 8 | Notes To Consolidated Financial Statements | 24. Quarterly Financial Information (unaudited)Item 8 | Notes To Consolidated Financial Statements | 25. Information Provided in Connection with Outstanding DebtItem 9 | Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A | Controls and ProceduresPart IIIItem 10 | Directors, Executive Officers and Corporate GovernanceItem 11 | Executive CompensationItem 12 | Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13 | Certain Relationships and Related Transactions, and Director IndependenceItem 14 | Principal Accounting Fees and ServicesPart IVItem 15 | Exhibits, Financial Statement SchedulesItem 16 | Form 10-k Summary

Exhibits

(1)Stock Purchase Agreement dated as of August 15, 2016 between American International Group, Inc. and Arch Capital Group Ltd. Incorporated by reference to Exhibit 2.1 to AIGs Current Report on Form 8-K filed with the SEC on August 16, 2016 (File No. 1-8787). (2)First Amendment to Stock Purchase Agreement, dated as of December 29, 2016 between American International Group, Inc. and Arch Capital Group Ltd. Incorporated by reference to Exhibit 10.51 to AIGs Annual Report on Form 10-K for the year ended December 31, 2016 (File No. 1-8787). (3)Agreement and Plan of Merger, by and among AIG, Venus Holdings Limited and Validus Holdings, Ltd., dated January 21, 2018 Incorporated by reference to Exhibit 2.1 to AIGs Current Report on Form 8-K filed with the SEC on January 22, 2018 (File No. 1-8787). 3(i) Amended and Restated Certificate of Incorporation of AIG Incorporated by reference to Exhibit3.1 to AIGs Current Report on Form 8-K filed with the SEC on June 28, 2017 (File No. 1-8787). 3(ii) AIG By-laws, amended November 16, 2015 Incorporated by reference to Exhibit3.1 to AIGs Current Report on Form8-K filed with the SEC on November 16, 2015 (File No.1-8787). (1)Warrant Agreement (including Form of Warrant), dated as of January6, 2011, between AIG and Wells Fargo Bank, N.A., as Warrant Agent Incorporated by reference to Exhibit10.1 to AIGs Current Report on Form 8K filed with the SEC on January7, 2011 (File No.18787). (2)Tax Asset Protection Plan, dated as of March 9, 2011, between AIG and Wells Fargo Bank, N.A., as Rights Agent, including as Exhibit A the forms of Rights Certificate and of Election to Exercise Incorporated by reference to Exhibit 4.1 to AIGs Current Report on Form 8-K filed with the SEC on March 9, 2011 (File No. 1-8787). (3)Amendment No. 1, dated as of January 8, 2014, to Tax Asset Protection Plan, between AIG and Wells Fargo Bank, National Association, as Rights Agent Incorporated by reference to Exhibit 4.1 to AIGs Current Report on Form 8-K filed with the SEC on January 8, 2014 (File No. 1-8787). (4)Amendment No. 2, dated as of December 14, 2016, to Tax Asset Protection Plan, between AIG and Wells Fargo Bank, National Association, as Rights Agent Incorporated by reference to Exhibit 4.1 to AIGs Current Report on Form 8-K filed with the SEC on December 14, 2016 (File No. 1-8787). (1)AIG Amended and Restated Executive Severance Plan* Incorporated by reference to Exhibit10.1 to AIGs Current Report on Form8-K filed with the SEC on September26, 2008 (File No.1-8787). (2)AIG Amended and Restated 2007 Stock Incentive Plan* Incorporated by reference to Exhibit10.62 to AIGs Annual Report on Form10-K for the year ended December31, 2008 (File No. 1-8787). (3)AIG Amended and Restated Form of Non-Employee Director Deferred Stock Units Award Agreement* Incorporated by reference to Exhibit10.69 to AIGs Annual Report on Form10-K for the year ended December31, 2008 (File No. 1-8787). (4)Fourth Amended and Restated Credit Agreement, dated as of June 27, 2017, among AIG, the subsidiary borrowers party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and each Several L/C Agent party thereto Incorporated by reference to Exhibit10.1 to AIGs Current Report on Form8-K filed with the SEC on June 27, 2017 (File No.1-8787). (5)American International Group, Inc. 2010 Stock Incentive Plan* Incorporated by reference to AIGs Definitive Proxy Statement, dated April 12, 2010 (Filed No. 1-8787). (6)AIG Amended Form of 2010 Stock Incentive Plan DSU Award Agreement* Incorporated by reference to Exhibit 10.14 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (File No. 1-8787). (7)Release and Restrictive Covenant Agreement between AIG and Peter Hancock* Incorporated by reference to Exhibit99.3 to AIGs Current Report on Form8-K filed with the SEC on February8, 2010 (File No.1-8787). (8)Non-Competition and Non-Solicitation Agreement between AIG and Peter Hancock, dated February8, 2010* Incorporated by reference to Exhibit99.4 to AIGs Current Report on Form8-K filed with the SEC on February8, 2010 (File No.1-8787). (9)Letter Agreement, dated August 14, 2013, between AIG and Kevin Hogan* Incorporated by reference to Exhibit 10.2 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (File No. 1-8787). (10)Non-Solicitation and Non-Disclosure Agreement, dated August 14, 2013, between AIG and Kevin Hogan* Incorporated by reference to Exhibit 10.3 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (File No. 1-8787). (11)Introductory Bonus Agreement, dated August 14, 2013, between AIG and Kevin Hogan* Incorporated by reference to Exhibit 10.4 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (File No. 1-8787). (12)Executive Officer Form of Release and Restrictive Covenant Agreement* Incorporated by reference to Exhibit 10.5 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 (File No. 1-8787). (13)AIG Non-Qualified Retirement Income Plan (as amended)* Incorporated by reference to Exhibit 10.1 to AIGs Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 (File No. 1-8787). (14)Master Transaction Agreement, dated as of April 19, 2011, by and among American Home Assurance Company, Chartis Casualty Company (f/k/a American International South Insurance Company), Chartis Property Casualty Company (f/k/a AIG Casualty Company), Commerce and Industry Insurance Company, Granite State Insurance Company, Illinois National Insurance Co., National Union Fire Insurance Company of Pittsburgh, Pa., New Hampshire Insurance Company, The Insurance Company of the State of Pennsylvania, Chartis Select Insurance Company (f/k/a AIG Excess Liability Insurance Company Ltd.), Chartis Specialty Insurance Company (f/k/a American International Specialty Lines Insurance Company), Landmark Insurance Company, Lexington Insurance Company, AIU Insurance Company, American International Reinsurance Company, Ltd. and American Home Assurance Company, National Union Fire Insurance Company of Pittsburgh, Pa., New Hampshire Insurance Company and Chartis Overseas Limited acting as members of the Chartis Overseas Association as respects business written or assumed by or from affiliated companies of Chartis Inc. (collectively, the Reinsureds), Eaglestone Reinsurance Company and National Indemnity Company Incorporated by reference to Exhibit 10.6 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 (File No. 1-8787). (15)AIG 2013 Long-Term Incentive Plan (as amended)* Incorporated by reference to Exhibit 10.35 to AIGs Annual Report on Form 10-K for the year ended December 31, 2015 (File No. 1-8787). (16)Form of 2015 Performance Share Units Award Agreement* Incorporated by reference to Exhibit 10.5 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (File No. 1-8787). (17)AIG Clawback Policy* Incorporated by reference to Exhibit 10.3 to AIGs Current Report on Form 8-K filed with the SEC on March 27, 2013 (File No. 1-8787). (18)AIG 2013 Short-Term Incentive Plan* Incorporated by reference to Exhibit 10.5 to AIGs Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 (File No. 1-8787). (19)Form of 2013 Short-Term Incentive Plan Award Letter* Incorporated by reference to Exhibit 10.5 of AIGs Current Report on Form 8-K filed with the SEC on March 27, 2013 (File No. 1-8787). (20)AIG Annual Short-Term Incentive Plan (as amended)* Incorporated by reference to Exhibit 10.43 on AIGs Annual Report on Form 10-K for the year ended December 31, 2016 (File No. 1-8787). (21)AIG 2013 Omnibus Incentive Plan* Incorporated by reference to Appendix B in AIGs Definitive Proxy Statement on Schedule 14A, dated April 4, 2013 (File No. 1-8787). (22)AIG 2012 Executive Severance Plan (as amended)* Incorporated by reference to Exhibit 10.1 of AIGs Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 (File No. 1-8787). (23)Form of AIG 2013 Omnibus Incentive Plan Non-Employee Director DSU Award Agreement* Incorporated by reference to Exhibit 10.52 to AIGs Annual Report on Form10-K for the year ended December31, 2016 (File No. 1-8787). (24)Aggregate Excess of Loss Reinsurance Agreement, dated January 20, 2017, by and between AIG Assurance Company, AIG Property Casualty Company, AIG Specialty Insurance Company, AIU Insurance Company, American Home Assurance Company, Commerce and Industry Insurance Company, Granite State Insurance Company, Illinois National Insurance Co., Lexington Insurance Company, National Union Fire Insurance Company of Pittsburgh, Pa., New Hampshire Insurance Company and The Insurance Company Of The State Of Pennsylvania and National Indemnity Company (portions of this exhibit have been redacted pursuant to a request for confidential treatment). Incorporated by reference to Exhibit 10.1 to AIG's Current Report on Form 8-K filed with the SEC on February 14, 2017 (File No. 1-8787). (25)Trust Agreement, dated January 20, 2017, by and among National Union Fire Insurance Company of Pittsburgh, Pa., National Indemnity Company, and Wells Fargo Bank, National Association (portions of this exhibit have been redacted pursuant to a request for confidential treatment). Incorporated by reference to Exhibit 10.2 to AIG's Current Report on Form 8-K filed with the SEC on February 14, 2017 (File No. 1-8787). (26)Parental Guarantee Agreement, dated January 20, 2017, by Berkshire Hathaway Inc. in favor of National Union Fire Insurance Company of Pittsburgh, Pa. Incorporated by reference to Exhibit 10.3 to AIG's Current Report on Form 8-K filed with the SEC on February 14, 2017 (File No. 1-8787). (27)AIG Long Term Incentive Plan* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K filed with the SEC on March 17, 2017 (File No. 1-8787). (28)Form of AIG Long Term Incentive Award Agreement* Incorporated by reference to Exhibit 10.2 to AIGs Current Report on Form 8-K filed with the SEC on March 17, 2017 (File No. 1-8787). (29)Letter Agreement between American International Group, Inc. and Peter D. Hancock, dated March 17, 2017* Incorporated by reference to Exhibit 10.3 to AIGs Current Report on Form 8-K filed with the SEC on March 17, 2017 (File No. 1-8787). (30)Letter Agreement, dated November 3, 2010, between AIG and Siddhartha Sankaran* Incorporated by reference to Exhibit 10.7 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 (File No. 1-8787). (31)Non-Competition, Non-Solicitation and Non-Disclosure Agreement, dated November 5, 2010, between AIG and Siddhartha Sankaran* Incorporated by reference to Exhibit 10.8 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 (File No. 1-8787). (32)Letter Agreement, dated July 22, 2015, between AIG and Douglas A. Dachille* Incorporated by reference to Exhibit 10.9 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 (File No. 1-8787). (33)Non-Solicitation and Non-Disclosure Agreement, dated July 22, 2015, between AIG and Douglas A. Dachille* Incorporated by reference to Exhibit 10.10 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 (File No. 1-8787). (34)Letter Agreement, dated May 14, 2017, between American International Group, Inc. and Brian Duperreault* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K filed with the SEC on May 15, 2017 (File No. 1-8787). (35)Form of Stock Option Award Agreement, between American International Group, Inc. and Brian Duperreault* Incorporated by reference to Exhibit 10.2 to AIGs Current Report on Form 8-K filed with the SEC on May 15, 2017 (File No. 1-8787). (36)Letter Agreement, dated July 3, 2017, between American International Group, Inc. and Peter Zaffino* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K filed with the SEC on July 6, 2017 (File No. 1-8787). (37)Non-Solicitation and Non-Disclosure Agreement, dated July 5, 2017, between American International Group, Inc. and Peter Zaffino* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K filed with the SEC on July 6, 2017 (File No. 1-8787). (38)Form of Stock Option Award Agreement, between American International Group, Inc. and Peter Zaffino* Incorporated by reference to Exhibit 10.2 to AIGs Current Report on Form 8-K filed with the SEC on July 6, 2017 (File No. 1-8787). (39)Form of Long Term Incentive Stock Option Award Agreement* Incorporated by reference to Exhibit 10.60 to AIGs Annual Report on Form 10-K for the year ended December 31, 2017 (File No. 1-8787). (40)AIG Long Term Incentive Plan (as amended)* Incorporated by reference to Exhibit 10.2 to AIGs Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 (File No. 1-8787). (41)Description of Non-Management Director Compensation* Incorporated by reference to Compensation of Directors in AIGs Definitive Proxy Statement on Schedule 14A, dated March 27, 2018 (File No. 1-8787). (42)AIG Long Term Incentive Plan (as amended and restated)* Incorporated by reference to Exhibit 10.1 to AIGs Quarterly Report on Form 10-Q for the quarter ended September 30, 2018 (File No. 1-8787). (43)Release and Restrictive Covenant Agreement between AIG and Siddhartha Sankaran, dated December 7, 2018* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K filed with the SEC on December 7, 2018 (File No. 1-8787). (44)Letter Agreement, dated May 10, 2018, between AIG and Mark Lyons* Incorporated by reference to Exhibit 10.1 to AIGs Current Report on Form 8-K/A, Amendment No. 1, filed with the SEC on December 14, 2018 (File No. 1-8787). (45)Non-Solicitation and Non-Disclosure Agreement, dated May 13, 2018, between AIG and Mark Lyons* Incorporated by reference to Exhibit 10.2 to AIGs Current Report on Form 8-K/A, Amendment No. 1, filed with the SEC on December 14, 2018 (File No. 1-8787). 21 Subsidiaries of Registrant Filed herewith. 23 Consent of Independent Registered Public Accounting Firm Filed herewith. 31 Rule13a-14(a)/15d-14(a) Certifications Filed herewith. 32 Section1350 Certifications** Filed herewith. 99.02 Securities Registered pursuant to Section12(b) of the Act Filed herewith.