American International (AIG) 8-K Cautionary Statement Regarding Forward-Looking Information

American International Group, Inc.

Investor Presentation

May 14, 2014

Exhibit 99.1

2

Cautionary Statement Regarding Forward-Looking Information

This document and the remarks made within this presentation may include, and officers and representatives of American

International Group, Inc. (AIG) may from time to time make, projections, goals, assumptions and statements that may constitute

“forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of 1995. These projections, goals,

assumptions and statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by

their

nature,

are

inherently

uncertain

and

outside

AIG’s

control.

These

projections,

goals,

assumptions

and

statements

include

statements

preceded

by,

followed

by

or

including

words

such

as

“believe,”

“anticipate,”

“expect,”

“intend,”

“plan,”

“view,”

“target”

or

“estimate”. It is possible that AIG’s actual results and financial condition will differ, possibly materially, from the results and financial

condition

indicated

in

these

projections,

goals,

assumptions

and

statements.

Factors

that

could

cause

AIG’s

actual

results

to

differ,

possibly materially, from those in the specific projections, goals, assumptions and statements include: changes in market conditions;

the occurrence of catastrophic events, both natural and man-made; significant legal proceedings; the timing and applicable

requirements of any new regulatory framework to which AIG is subject as a non-bank systemically important financial institution and

as a global systemically important insurer; concentrations in AIG’s investment portfolios; actions by credit rating agencies; judgments

concerning casualty insurance underwriting and insurance liabilities; judgments concerning the recognition of deferred tax assets;

and such other factors discussed in Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of

Operations (MD&A) in AIG’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014 and in Part I, Item 1A.

Risk Factors and Part II, Item 7. MD&A in AIG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions or

other

statements,

whether

written

or

oral,

that

may

be

made

from

time

to

time,

whether

as

a

result

of

new

information,

future

events

or otherwise.

This

document

and

the

remarks

made

orally

may

also

contain

certain

non-GAAP

financial

measures.

The

reconciliation

of such measures to the most comparable GAAP measures in accordance with Regulation G is included in the First Quarter 2014

Financial

Supplement

available

in

the

Investor

Information

section

of

AIG's

corporate

website,

www.aig.com,

as

well

as

in

this

presentation.

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that (i) any U.S. tax advice

contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the

purpose of avoiding penalties under the Internal Revenue Code; (ii) any such tax advice is written in connection with the promotion or

marketing

of

the

matters

addressed;

and

(iii)

if

you

are

not

the

original

addressee

of

this

communication,

you

should

seek

advice

based on your particular circumstances from an independent advisor.

Note: Information included in the presentation is as of May 14, 2014.

3

AIG –

An Established Global Insurance Franchise

A platform for delivering sustainable profitable growth.

1)

Growth economies are those within Central Europe, Middle East, Africa, Latin America and Asia Pacific, excluding Japan.

Core

Insurance

Businesses

Strategies

Key Accomplishments

AIG Property

Casualty

Grow high value lines and optimize business mix

1Q14 NPW growth of 3%, excluding FX,

compared to 1Q13

Casualty business achieved risk adjusted profit

in

1Q14

Execute on technical

underwriting, improved claims

management, and analytics

1Q14 Accident year loss ratio, as adjusted,

improved 6.2 pts since 1Q11 (10.2 pt

improvement for Commercial Insurance)

Capitalize on global footprint; Focus on targeted growth in

key markets

13%

of

1Q14

NPW

from

growth

economies

(1)

AIG Life and

Retirement

Maintain balanced portfolio of products and leverage scale

advantage

Diversified sources of net flows and earnings

Optimize spread management through new business

pricing and active crediting rate management

Profitability enhanced through ongoing spread

management actions

Expand distribution network and increase penetration of

multiple products through each distribution partner

Approximately

$0.8

bn

–

$1.4

bn

in

quarterly

pre-tax operating income since 4Q11

Mortgage

Guaranty

Selectively underwrite based on multivariate model to

achieve higher risk adjusted returns

Earnings reflect new business; 62% of net

premiums earned in 1Q14 were from business

written after 2008

Actively manage legacy book

Delinquency ratio declined 60 bps from 4Q13 to

5.3% at 1Q14

4

AIG –

Building on Capital Strength

Active Capital Management

25% increase in quarterly dividend to

$0.125/sh. in Feb. 2014

Approximately $867 million of shares

repurchased in 1Q14

Since May 2011, deployed over $20 billion

through share repurchases, dividends and

liability management (non-DIB)

Reduced DIB debt by approx. $3 billion in

2014 using cash allocated to the DIB

Robust Statutory Capital

2013

RBC

ratios

(1)

:

2013

total

adjusted

statutory

capital

(1)

:

Growth in BVPS

March

31,

2014

BVPS

(ex.

AOCI)

of

$65.49

–

up 10% from 3/31/2013

Strong Liquidity

& Cash Flows

1Q14 insurance company dividends of $1.7

billion

–

Expected

$5

-

6

billion

for

2014

Tax sharing payments of $289 million in 1Q14

$11.2 billion of total AIG Parent liquidity

Monetization of

Deferred Tax Assets

Net DTA of $21.2 billion at Dec. 31, 2013

AIG

Property

Casualty

$48.6 bn

AIG Life and

Retirement

$39.8 bn

Other

$13.0 bn

(2)

Mortgage

Guaranty

$2.4 bn

AIG

Shareholders’

Equity

-

$103.8 bn at March 31, 2014

–

AIG PC U.S.: 416% (ACL)

–

AIG L&R: 568% (CAL)

–

AIG PC U.S.: $22.0 billion

–

AIG L&R: $22.6 billion

1)

The inclusion of RBC measures and total adjusted statutory capital is intended solely for the information of investors and is not intended for the purpose of ranking any

insurance company or for use in connection with any marketing, advertising or promotional activities. ACL is defined as Authorized Control Level and CAL is defined

as Company Action Level. Total adjusted statutory capital and RBC ratio for AIG Life and Retirement excludes holding company, AGC Life Insurance Company.

2)

Other includes AIG Parent (including the deferred tax asset valuation allowance), Global Capital Markets, Direct Investment book, AIG Life Holdings, Inc. (a non-operating

holding company) and assets and liabilities held for sale, net of consolidation and eliminations.

Note: Data as of March 31, 2014 unless otherwise noted.

AIG Property Casualty

6

42,000 employees who serve clients worldwide

51% of premiums written outside of U.S. and Canada in 2013

Average claims paid each business day of over $100 million in 2013

#1 commercial insurance

organization in

U.S./Canada, with

established and growing

#1 U.S.-based property casualty

insurance organization in Europe, with

established and growing positions in

the Middle East and Africa

(2)

#1 foreign property

casualty insurer in Japan

and China

(2)

Asia Pacific

2013 NPW: $9.7 bn

28% of total NPW

AIG

Property

Casualty

–

A

Truly

Global

Franchise

AIG Property Casualty is a diversified global P&C market leader with 2013 NPW of over $34 billion.

1)

EMEA region consists of Europe, Middle East and Africa.

2)

As measured by full year 2012 net premiums written.

EMEA

(1)

2013 NPW: $6.8 bn

20% of total NPW

Americas

2013 NPW: $17.9 bn

52% of total NPW

position

in

Latin

America

(2)

7

AIG Property Casualty –

Financial Highlights

Full Year

First

Quarter

($ in billions)

2011

2012

2013

2014

Net premiums written

$34.8

$34.4

$34.4

$8.3

Net investment income

4.3

4.8

5.3

1.3

Pre-tax operating income

$1.1

$1.8

$4.8

$1.2

Accident year loss ratio, as adjusted

68.7

65.2

63.8

63.2

Expense ratio

30.4

34.6

34.6

34.1

Accident year combined ratio, as adjusted

99.1

99.8

98.4

97.3

Cash & invested assets

(1)

$126.3

$130.8

$123.1

$123.0

Shareholders’

equity

47.3

48.9

46.3

48.6

Shareholders’

equity, excluding AOCI

$44.3

$43.7

$43.1

$45.0

1)

Includes intercompany invested assets that are eliminated in consolidation.

8

AIG

Property

Casualty

–

Business

Overview

A broad product platform.

Global

–

Unique

ability

to

serve

multinational

clients

Innovative

–

Often

first

to

market

in

new

products

and

services,

such

as

CyberEdge

Capital

Strength

–

U.S.

total

adjusted

statutory

capital

(1)

of

$22.0

billion

at

year-end

2013

Commercial Insurance

Full

Year

2013

NPW

–

$20.8

bn

Consumer Insurance

Full

Year

2013

NPW

–

$13.6

bn

1)

The inclusion of total adjusted statutory capital is intended solely for the information of investors and is not intended for the purpose of ranking any

insurance company or for use in connection with any marketing, advertising or promotional activities.

9

AIG

Property

Casualty

–

Strategic

Focus

Strategic levers driving shareholder value creation.

Business

Mix

Underwriting

Excellence

Claims

Service

Operational

Effectiveness

Capital

Management

Balance growth with

profitability and risk

Growth in Risk

Adjusted Profitability

(RAP), accretive

products and

geographies

Achieve scale in key

markets over a

reasonable period of

time

Rationalize/price for

capital intensive

product lines

Globalize

standards for

underwriting and

pricing

Enhance

underwriters’

analytical

capabilities

Balance between

art and science

intertwined with

finer segmentation

Global Claims

Initiative leading to

claims cost savings

and enhanced client

service

Improved claims

practices in medical

and anti-fraud

driven by data

analytics

Build advanced

claims IT

architecture

Simplify and

standardize legacy

operating models

Reduce overhead

with cost

optimization and

shared services

Use RAP as a key

performance

indicator

Leverage capital

maintenance

agreements with

AIG

Increase

underwriting

leverage

10

AIG

Property

Casualty

–

Strong

Brands

and

Customer

Loyalty

AIG Property Casualty continues to be recognized for excellence.

Confirmit

2013 Achievement in Customer

Excellence

Reader’s Digest

2013 Trusted Brand Award for

Auto Insurance

World Travel Fair

2013 Best Quality Service, Travel Insurance

Company (3

rd

Consecutive Year)

Business Insurance

2014

Innovation

Award

-

AIG

Multinational Program Design Tool

Motordata Research Consortium

2014

Insurer

of

the

Year

(3

rd

Consecutive

Year)

Nanfang Daily

2013 Most Trustworthy Financial Brand

(2

nd

Consecutive Year)

Global Finance

2013 Best in Insurance Awards

British Insurance Award

2013 Underwriter of the Year

MENA Insurance Review

2014 Financial Insurer of the Year

UK CIR Magazine

2014 Commercial Insurer and

Specialist Provider of the Year

Awards

PropertyCasualty360

2013 Best Overall Commercial

Insurance Provider

Risk & Försäkring

2013 Insurance Company of the Year

Australian Business Award

2013 Service Excellence

UK Insurance Claims Award

2013 Innovation of the Year

Reaction Magazine

2013 Best Global Insurance

Company Overall

Celent Model Insurer Award

2011

-

2013

Australia and New Zealand Institute

of Insurance & Finance (ANZIIF)

2013

Innovation

of

the

Year

–

CyberEdge

UK Captive Review

2014 Innovation in Fronting Award

The Tempkin Group

2013 Customer Experience Excellence

Award

AIG Clients as a Percentage of Each Category

97%

As of

12/1/13

91%

As of

11/1/13

40%

As of

6/1/13

Insurance

Times

-

UK

2014 Insurer Claims Initiative of the

Year

-

Commercial

Lines `

11

AIG

Property

Casualty

–

Product

Diversification

Commercial Insurance

Consumer Insurance

Casualty

General Liability

Commercial Auto

Workers’

Compensation

Excess Casualty

Crisis Management

Property

Global Property including high

deductible

Industrial, Energy and Commercial

Property

Specialty

Aerospace

Environmental

Political Risk

Trade Credit

Marine

Surety

Financial Lines

D&O, E&O

Cyber Security

Fidelity

Employment Practices

Kidnap and Ransom

Accident and

Health

Personal Accident

Supplemental Medical

Travel

Life

Personal Lines

Automobile

Homeowners

Extended Warranty

Specialty (e.g., identity theft, credit

card protection)

Private Client Group

12

AIG

Property

Casualty

–

Reserves

Business mix shift to shorter-tail lines,

expected to reduce net reserves.

Over 50% of reserves are now from

business that has been substantially

re-underwritten (i.e. post 2011).

Reduction in outstanding loss reserves

for long tail reserve segments

expected to reduce reserve variability.

Note:

Allocation

by

accident

year

for

illustration

purposes

only

and

subject

to

change.

Net

reserves

presented

above

are

shown

before

the

effect

of

a

$3.7

billion

loss reserve discount.

Business mix shifts away from long tail casualty lines and accelerated commutation of legacy portfolios

(especially 2004 and prior) are expected to also reduce reserve variability.

Net Reserves by Accident Year

$66.3 billion at March 31, 2014

2004 &

Prior

15%

2005 -

2007

9%

2008 -

2010

22%

2011 -

2014

54%

Total Property Casualty

Commercial Insurance

Consumer Insurance

13

AIG Property Casualty –

Accident Year Loss Ratio, As Adjusted, Progression

14

AIG

Property

Casualty

–

Investment

Composition

&

Ratings

1)

Includes intercompany invested assets that are eliminated in consolidation.

Bond

Portfolio

–

By

Agency

Credit

Rating

March 31, 2014 -

$98.9 billion

Bond

Portfolio

–

By

Agency

Credit

Rating

December 31, 2013 -

$99.0 billion

Cash

&

Invested

Assets

–

Total

Portfolio

Composition

(1)

March 31, 2014 -

$123.0 billion

Cash

&

Invested

Assets

–

Total

Portfolio

Composition

(1)

December 31, 2013 -

$123.1 billion

AIG Life and Retirement

16

AIG

Life

and

Retirement

–

Operating

from

a

Position

of

Strength

Market Leader

Long standing leading market positions

Scale advantage in key product lines

Product Diversity

& Capacity for

Growth

Comprehensive portfolio of life insurance, A&H, annuity, group retirement,

group benefits, institutional products and mutual funds

Breadth of products allows for growth as demographics and operating

environments shift

Multi-channel

Distribution

Strong Capital

Position

Year-end

2013

RBC

ratio

(1)

at

568%

(CAL)

supports

sales

growth

Total

adjusted

statutory

capital

(1)

of

$22.6

billion

at

year-end

2013

1)

The inclusion of RBC measures and total adjusted statutory capital is intended solely for the information of investors and is not intended for the purpose of

ranking

any

insurance

company

or

for

use

in

connection

with

any

marketing,

advertising

or

promotional

activities.

CAL

is

defined

as

Company

Action

Level.

Total adjusted statutory capital and RBC ratio excludes holding company, AGC Life Insurance Company.

Distribution

organization

leverages

broad

product

portfolio

across

all

channels

Over 300,000 financial professionals

17

AIG Life and Retirement –

Financial Highlights

Full Year

First

Quarter

($ in billions)

2011

2012

2013

2014

Premiums and deposits

$24.4

$21.0

$28.8

$7.1

Net investment income

9.9

10.7

10.9

2.8

Pre-tax operating income

3.3

4.2

5.1

1.4

Cash

&

invested

assets

(1)

194.2

205.3

196.9

200.1

Assets under management

256.9

290.4

318.0

324.4

Shareholders’

equity

34.2

40.0

38.7

39.8

Shareholders’

equity,

excluding

AOCI

29.5

31.6

34.9

34.6

Net flows

2.9

(1.3)

4.6

1.0

1)

Includes intercompany invested assets that are eliminated in consolidation.

18

AIG

Life

and

Retirement

–

Diversified

Business

Mix

Pre-tax Operating Income

Full Year 2013 -

$5.1 billion

Pre-tax Operating Income

Full Year 2012 -

$4.2 billion

Retirement

Income Solutions

12%

Retail: 62%

Institutional: 38%

Group Retirement

24%

Institutional Markets

13%

Retirement

Income Solutions

12%

Fixed Annuities

35%

Life Insurance

and A&H

14%

Retail: 59%

Institutional: 41%

Group Retirement

28%

Institutional Markets

13%

Fixed Annuities

31%

Life Insurance

and A&H

16%

Retail: 69%

Institutional: 31%

Premiums and Deposits

Full Year 2013 -

$28.8 billion

Life Insurance

and A&H

12%

Fixed Annuities

10%

Retirement

Income Solutions

30%

Retail Mutual Funds &

Brokerage Services

17%

Group Retirement

25%

Institutional Markets

4%

Group Benefits

2%

Retail: 59%

Institutional: 41%

Premiums and Deposits

Full Year 2012 -

$21.0 billion

Life Insurance

and A&H

16%

Fixed Annuities

7%

Retirement

Income Solutions

23%

Group Retirement

34%

Institutional Markets

4%

Group Benefits

3%

Retail Mutual Funds &

Brokerage Services

13%

AIG

Life

and

Retirement

–

Assets

Under

Management

Year-over-year

growth

in

AUM

reflects

strong

retail

investment

product

net

flows,

higher

separate

account balances and greater institutional assets.

Life

Insurance

and A&H

13%

Fixed

Annuities

24%

Retirement

Income

Solutions

11%

Retail

Mutual

Funds

3%

Group

Retirement

30%

Institutional

Markets

18%

Group

Benefits

1%

Life

Insurance

and A&H

11%

Fixed

Annuities

21%

Retirement

Income

Solutions

14%

Retail

Mutual

Funds

4%

Group

Retirement

29%

Institutional

Markets

20%

Group

Benefits

1%

March

31,

2014

-

$324.4

billion

March

31,

2013

-

$296.9

billion

19

20

AIG Life and Retirement –

Leading Market Positions

* Based on LIMRA rankings for respective periods.

Rank*

Metric

2013

2012

2

6

Total Annuity Sales

1

2

Fixed-Rate Deferred Annuity Sales

4

7

Variable Annuity Sales

4

5

Structured Settlement Annuity Sales

8

6

Term Life Sales

9

18

Universal Life Sales

2

2

K-12 403(b) Assets

3

3

Total 403(b) Assets

Market Positions

Excellence in Service, Marketing and Technology

Market Tools

2013 Achievement in

Customer Excellence

(ACE award for 7

th

Consecutive Year)

DALBAR

2013 Annuity Service

Excellence Award

(7

th

Consecutive Year)

2013 #1 Ranking for

Annuity Client Quarterly

Statements

(13

th

Consecutive Year)

PlanSponsor Magazine

Earned 17 Best-in-Class

Awards for Participant and

Plan Sponsor Services in

2013

International MarCom

Awards

2012 and 2013 Platinum

and Gold Awards

(42 in total)

Insurance & Financial

Communications

Association

2012 and 2013 Best in

Show and Awards of

Excellence (15 in total)

InformationWeek 500

2012 and 2013 Top

Technology Innovators

Best’s Review

2012 and 2013 Innovators

Showcase

21

AIG Life and Retirement –

Broad Multichannel Distribution Network

2013 Sales By Distribution Channel

Non-affiliated: 67%

2012 Sales By Distribution Channel

VALIC Financial Advisors

AIG Financial Network

Advisor Group

AIG Direct

Affiliated

Broker-Dealers

Banks

Independent Marketing Organizations

Benefit Brokers

Non-affiliated

B-Ds

34%

Banks

19%

IMOs

10%

Advisor Group

3%

AIG Financial Network

3%

AIG Direct & Other

1%

VALIC FAs

26%

Benefit Brokers

3%

B-Ds

29%

Banks

13%

IMOs

11%

Advisor Group

2%

AIG Financial Network

5%

AIG Direct & Other

3%

VALIC FAs

33%

Benefit

Brokers

4%

Affiliated: 33%

Affiliated: 43%

Non-affiliated: 57%

22

Company

FY 2013

% Change

FY 2012

($ in millions)

Rank

Sales

From FY 2012

Rank

Sales

Jackson National

1

$20,931

6%

1

$19,713

Lincoln Financial Group

2

13,772

40%

4

9,848

Prudential Financial

3

11,170

(43%)

2

19,469

MetLife

4

9,289

(43%)

3

16,182

AEGON/Transamerica

5

8,253

60%

6

5,163

AIG

6

8,191

80%

8

4,561

AXA Equitable

7

7,426

8%

5

6,855

Nationwide

8

5,663

37%

9

4,146

Ameriprise

9

5,010

2%

7

4,917

Pacific Life

10

4,334

14%

10

3,796

Other

25,897

24%

20,811

Total

$119,935

4%

$115,461

AIG

Life

and

Retirement

–

Individual

Variable

Annuities

Unique Opportunity for AIG

*

Source: LIMRA VA Sales report. VA industry sales data reported herein

excludes Employer Plan sales and internal exchange sales

Industry Retail Variable Annuity Sales*

Total: $25.3BN

De-Risked Benefits

(2)

Early Benefits

Revised Benefits

(3)

1)

Excludes $4.1BN of AUM at VALIC with GMWB guarantees.

2)

De-Risked Benefits: Features on contracts issued since 2010 (VIX indexing/volatility control fund in 2012).

3)

Pre-2010 Partially De-Risked Benefits: Due to actual policyholder election of extension offers to-date.

Account Value by GMWB Guarantee at 3/31/14

(1)

A strategic growth opportunity for AIG.

Individual variable annuities represented 15% of AIG Life and Retirement’s total reserves at December 31, 2013.

Certain competitors pulled back on their product offerings in 2013, exemplified by their decreased market share.

AIG has continually improved its industry ranking since 2009; remaining growth opportunity in VA due to market share of only 6.8%.

Disciplined pricing and de-risked benefits: VIX indexing of rider fees, volatility control funds, mandatory 20% asset allocation to fixed

accounts.

AIG

Life

and

Retirement

–

Index

Annuities

Source: LIMRA Indexed Deferred Annuity Sales Report

Quarterly Index Annuity Industry Sales

($ in billions)

Provides

an

opportunity

to

diversify

Retirement

Income

Solutions

offerings.

In past years, many leading carriers avoided the index annuity

market due to issues centered around suitability, sales

practices, and proposed treatment as “securities”

Evolving Market

Regulatory changes, improved industry practices, and product

design changes have changed the landscape

2013 industry sales of $39 billion reflect a CAGR of 11% over

10 years

Approximately 2/3 of index annuity sales include a Guaranteed

Living Benefit (GLB)

AIG Strategic Advantages To Developing Index Annuities

Broader

distribution

through

independent

marketing

organizations

(the

product

does

not

require

a

securities

license)

Enhanced sales of “lower-risk”

lifetime income solutions that require simpler hedging     

Ability to further diversify our base of fee and spread income

Potential for higher fixed sales in lower interest rate periods

Increased sales through advisors looking for less complex guaranteed lifetime income products

Ability to leverage AIG L&R’s strengths of low-cost administration and multi-channel distribution, combined with leading-edge

product innovation and dynamic hedging capability

23

Bond Portfolio –

By Agency Credit Rating

December

31,

2013

-

$157.2

billion

Cash

&

Invested

Assets

–

Total

Portfolio

Composition

(1)

December 31, 2013 -

$196.9 billion

Cash

&

Invested

Assets

–

Total

Portfolio

Composition

(1)

March 31, 2014 -

$200.1 billion

AIG

Life

and

Retirement

–

Investment

Composition

&

Ratings

1)

Includes intercompany invested assets that are eliminated in consolidation.

Bond Portfolio –

By Agency Credit Rating

March 31, 2014 -

$161.7 billion

24

AIG

Life

and

Retirement

–

Net

Investment

Spread

Management

Base

Portfolio

Yields

(1)

Cost

of

Funds

(2)

Base

Net

Investment

Spreads

(1)

1)

Includes return on base portfolio. Quarterly results are annualized.

2)

Excludes the amortization of sales inducement assets. At March 31, 2014, a total of 72% of fixed annuity and

universal life account values are at contractual minimum guaranteed crediting rates vs. 73% at December 31, 2013.

Total

Base

Yield

Fixed

Annuities

Group

Retirement

25

Mortgage Guaranty

(United Guaranty Corporation)

27

United Guaranty –

Financial Highlights

Full Year

First

Quarter

($ in millions)

2011

2012

2013

2014

Net premiums written

$801

$858

$1,048

$231

Net investment income

132

146

132

35

Pre-tax operating income (loss)

($97)

$9

$205

76

Combined ratio

128.9

119.2

90.9

80.8

Cash & invested assets

(1)

$4,081

$4,222

$3,934

$4,005

Shareholders’

equity

2,425

2,311

2,282

2,361

Shareholders’

equity, excluding AOCI

$2,332

$2,193

$2,268

$2,320

1)

Includes intercompany invested assets that are eliminated in consolidation.

28

United Guaranty –

A Market Leader

Risk based pricing driving profitable new business.

UGC’s risk-based pricing plan, Performance Premium, utilizes over a dozen variables to evaluate loan risk and price the

mortgage insurance policy.

United Guaranty continues to insure a high volume of mortgages with excellent credit quality despite the decline in mortgage

originations.

Vintage

Year

(2)

Average

FICO Score

LTV Ratio

2010

760

90

2011

757

91

2012

758

91

2013

753

91

1Q14

751

92

New

Insurance

Written

(1)

($ in billions)

1)

Represents principal amount of loans insured.

2)

Domestic First-lien only.

29

United

Guaranty

–

Shrinking

Legacy

In-Force

New business generated after 2008 represents 71% of primary domestic RIF at March 31, 2014, the highest among peers

active

before

2009

(1)

.

Due to proactive management of delinquent book through UGC’s Letter Campaign, at March 31, 2014, the portion of defaults

that

have

missed

12

or

more

payments

declined

to

45%

from

49%

at

the

end

of

2011,

the

lowest

among

peers

active

before

2009

(1)

.

Note: Data presented above is for Domestic First Lien operations.

1)

Peers

include

Mortgage

Guaranty

Insurance

Company

(MGIC),

Radian

Guaranty,

Incorporated

and

Genworth

Mortgage

Insurance

Company.

Primary Delinquency Rate

Primary

Risk-in-force

(RIF)

–

$37.4

billion

As of March 31, 2014 (by vintage year)

2005 and prior

8%

2006

5%

2007

10%

2008

6%

2009

2%

2010

3%

2011

8%

2012

22%

2013

32%

2014

4%

30

United Guaranty –

Financial Strength

UGC

has

the

lowest

default

rate

and

highest

portion

of

RIF

from

loans

originated

after

2008

among

peers

active

before

2009

(2)

.

UGC’s primary statutory insurance subsidiary, United Guaranty Residential Insurance Company (UGRIC), maintains an S&P

rating

of

A-

and

Moody's

rating

of

Baa1

with

stable

outlooks

(3)

.

UGC operating earnings reflect increasing contribution from new business.

At December 31, 2013 UGRIC has over $3 billion of assets with 89% in cash and unaffiliated investments.

Capitalization and Risk

Source: Statutory filing data.

1)

Risk-to-capital estimates for all companies, including United Guaranty, are preliminary estimates for March 31, 2014.

2)

Essent was not active before 2009.

3)

As of the date of this presentation.

At December 31, 2013

At March 31,

2014

Default

Rate (%)

Post 2008

RIF (%)

Risk-to-

Capital

(1)

United Guaranty

5.3

71

18.4

Genworth

7.4

47

18.7

MGIC

9.7

44

15.3

Radian

6.3

62

19.2

Essent

0.1

100

16.1

Asset Composition

Cash & Bonds to Total Admitted Assets

Capital Strength

32

Capital Position and Ratings

Book Value Per Share

Capital Structure

$68.62

1)

Includes AIG Notes, Bonds, Loans and Mortgages Payable, and AIGLH

Notes and Bonds Payable and junior subordinated debt.

2)

As of the date of this presentation, all ratings have stable outlooks, except

for the S&P rating for AIG-Senior Debt, which is negative.

3)

Ratings only reflect those of the core insurance companies.

($ in billions, except per share data)

$122.3

Leverage Ratios:

Dec. 31,

2013

Mar. 31,

2014

Financial Debt + Hybrids /

Capitalization

17.3%

16.9%

Financial Debt / Capitalization

12.8%

12.5%

$71.77

$125.6

$66.38

S&P

Moody’s

Fitch

AM Best

AIG –

Senior

Debt

A-

Baa1

BBB+

NR

AIG PC

(3)

–

FSR

A+

A1

A

A

AIG L&R

(3)

–

FSR

A+

A2

A+

A

Credit

Ratings

(2)

$0.6

$0.6

33

Financial Flexibility –

A Source of Strength

AIG Parent Cash, Short-Term Investments &

Unencumbered Fixed Maturity Securities

Insurance Company Distributions

($ in millions)

($ in billions)

AIG Life and Retirement distributions in 1Q14 included approximately $316 million of legal settlement proceeds received. In 2013, AIG

Property

Casualty

distributions

included

$1.8

billion

from

legal

entity

restructurings

and

an

intercompany

reinsurance

optimization

and

AIG

Life and Retirement distributions included approximately $800 million from legal settlement proceeds received.

AIG Parent cash, short-term investments and unencumbered fixed maturity securities of $11.2 billion includes $4.4 billion allocated

toward

future

maturities

of

liabilities

and

contingent

liquidity

stress

needs

of

the

Direct

Investment

book

and

Global

Capital

Markets

as

of

March 31, 2014.

AIG Parent also maintains aggregate available capacity of $4.4 billion under its syndicated credit facility plus its contingent liquidity facility.

Tax sharing payments from subsidiaries amounted to $289 million in 1Q14.

$13.1

$11.2

$5,349

$8,893

90

$2,496

$4,370

$2,853

$4,433

FY 2012

FY 2013

1Q14

$10.2

$8.2

$3.0

$3.0

Dec. 31,

2013

Mar. 31,

2014

Unencumbered

Fixed Maturity

Securities

Cash & Short-

term Investments

AIG Property Casualty

AIG Life and Retirement

UGC

$1,653

Other Sources of Value

35

Direct Investment Book and Global Capital Markets

Note: As of March 31, 2014.

1)

The DIB consists of a portfolio of assets and liabilities held directly by AIG Parent in the Matched Investment Program and certain non-derivative assets

and liabilities of AIGFP. The DIB and GCM are included in Other Operations in AIG’s Consolidated Balance Sheet.

2)

The overall hedging activity for the assets and liabilities of the DIB is executed by GCM. The value of hedges related to the non-derivative assets and

liabilities of AIGFP in the DIB is included within the assets, liabilities and operating results of GCM and is not included within the DIB assets, liabilities or

operating results.

Direct Investment Book

(1)

Global Capital Markets

(1)

Assets

$21.1

$7.0

Liabilities

$16.5

$3.7

Net Asset Value

$4.6

$3.3

Legacy Matched                            

Assets & Liabilities

Legacy AIGFP                    Stable Value                      

CDS Portfolio

Wraps

Third-Party

Derivatives

Notional ($

billion)

--

$71

Multi-

Sector

Corporate

Arbitrage

$8

$34

$3

$12

Weighted

Average Life

(Years)

--

7.1

5.8

2.0

4.5

8.0

Strategy

Assets managed to ensure

liabilities can be met as they

come due, even under stress

scenarios

Primarily hedges of

DIB assets and

liabilities          

Bulk of risk related

to interest rates,

foreign exchange

and equities has

been hedged

Remaining credit

risk viewed as

attractive risk-

reward

Since 3Q 2012,

notional value of

$10 billion has

been novated to

AIG Life and

Retirement

Further novations

are expected to

occur over time

“Clearing

house”

for

operating company

hedging and risk

management needs

($ in billions)

Market Derivatives

(2)

AIG Hedging &

Hedging Platform

Go Forward

36

Direct Investment Book Long-Term Debt

($ in billions)

1)

In May 2014, AIG reduced DIB debt through a redemption of $750 million aggregate principal amount of its 3.000% Notes due 2015 using cash allocated

to the DIB.

37

Deferred Tax Asset Overview

AIG continues to have substantial deferred tax assets that are available to offset future tax obligations.

1)

Foreign tax credits triggered in 2013 have increased the amount of carryover.

2)

Change during the period is primarily attributable to available for sale investment securities.

As of 12/31/12

As of 12/31/13

($ in billions)

Type

Gross

Attributes

Deferred

Tax Asset

Gross

Attributes

Deferred

Tax Asset

Utilization/Expiration

Net Operating Loss

Carryforwards

Non-Life

& Life

$39.5

$13.8

$35.8

$12.5

Utilize against AIG PC, ILFC, UGC,

AIG Parent and 35% of AIG L&R

income

2028–2031 Expiration

Capital Loss

Carryforwards

Valuation Allowance

Life

$16.6

$5.8

($5.1)

$1.4

$0.5

($0.5)

Utilize against capital gains from AIG

L&R

2014 Expiration

Foreign

Tax Credits

General

$4.7

$5.3

(1)

Utilize against 65% of AIG L&R

income

2016–2023 Expiration

Subtotal –

U.S. Tax

Attributes

19.2

17.8

Other

Deferred Tax

Assets/(Liabilities)

(2.5)

3.4

(2)

Net Deferred Tax

Assets

$16.7

$21.2

Appendix

39

Glossary of Non-GAAP Financial Measures

AIG

AIG –

After-tax operating income (loss) attributable to AIG

is derived by excluding the following items from net income (loss) attributable to AIG:

income (loss) from discontinued operations, net loss (gain) on sale of divested businesses and properties, income from divested businesses,

legacy

tax

adjustments

primarily

related

to

certain

changes

in

uncertain

tax

positions

and

other

tax

adjustments,

legal

reserves

(settlements)

related to “legacy crisis matters,”

deferred income tax valuation allowance (releases) charges, changes in fair value of AIG Life and Retirement

fixed maturity securities designated to hedge living benefit liabilities (net of interest expense), changes in benefit reserves and deferred policy

acquisition costs (DAC), value of business acquired (VOBA), and sales inducement assets (SIA) related to net realized capital gains (losses),

AIG

Property

Casualty

other

(income)

expense

-

net,

(gain)

loss

on

extinguishment

of

debt,

net

realized

capital

(gains)

losses,

and

non-

qualifying

derivative

hedging

activities,

excluding

net

realized

capital

(gains)

losses.

“Legacy

crisis

matters”

include

favorable

and

unfavorable

settlements related to events leading up to and resulting from our September 2008 liquidity crisis and legal fees incurred by AIG as the plaintiff

in connection with such legal matters.

Book Value Per Common Share Excluding Accumulated Other Comprehensive Income (Loss) (AOCI)

is derived by dividing Total AIG shareholders’

equity, excluding AOCI, by Total common shares outstanding.

AIG Property Casualty

Pre-tax operating income (loss)

includes both underwriting income (loss) and net investment income, but excludes net realized capital (gains) losses, other

(income) expense -

net, and legal settlements related to legacy crisis matters. Underwriting income (loss) is derived by reducing net premiums earned by

claims and claims adjustment expenses incurred, acquisition expenses and general operating expenses.

Accident year loss and combined ratios, as adjusted:

both the accident year loss and combined ratios, as adjusted, exclude catastrophe losses and related

reinstatement premiums, prior year development, net of premium adjustments, and the impact of reserve discounting. Catastrophe losses are generally

weather or seismic events having a net impact on AIG Property Casualty in excess of $10 million each.

AIG Life and Retirement

Pre-tax operating income (loss)

is derived by excluding the following items from pre-tax income (loss): legal settlements related to legacy crisis matters,

changes in fair values of fixed maturity securities designated to hedge living benefit liabilities (net of interest expense), net realized capital (gains) losses, and

changes in benefit reserves and DAC, VOBA, and SIA related to net realized capital gains (losses).

Premiums and deposits

includes direct and assumed amounts received on traditional life insurance policies, group benefit policies and deposits on life-

contingent payout annuities, as well as deposits received on universal life, investment-type annuity contracts and mutual funds.

Mortgage Guaranty (United Guaranty Corporation)

Pre-tax operating income (loss):

is derived by excluding  net realized capital (gains) losses from pre-tax income (loss).

Results from discontinued operations are excluded from all of these measures.

40

AIG Consolidated Financial Highlights

Full Year

First

Quarter

($ in millions, except per share amounts)

2011

2012

2013

2014

Revenues

$65,105

$71,021

$68,678

$16,112

Net income attributable to AIG

20,622

3,438

9,085

1,609

Diluted earnings per common share

$11.01

$2.04

$6.13

$1.09

ROE, Ex. AOCI

(2)

26.6%

3.7%

10.1%

6.8%

After-tax operating income attributable to AIG

$2,086

$6,635

$6,762

$1,781

After-tax operating income attributable to AIG per common share

$1.16

$3.93

$4.56

$1.21

ROE –

After-tax operating income

(3)

2.7%

7.2%

7.5%

7.5%

Book value per common share

$53.53

$66.38

$68.62

$71.77

Book value per common share -

Ex. AOCI

$50.11

$57.87

$64.28

$65.49

1)

Includes

deferred

tax

asset

valuation

allowance

release

of

$18.3

billion

in

2011.

2)

Computed as Actual or Annualized Net income (loss) attributable to AIG divided by Average AIG Shareholders' equity, excluding AOCI.

3)

Computed as Actual or Annualized After-tax operating income divided by Average AIG Shareholders' equity, excluding AOCI.

(1)

41

Non-GAAP Reconciliation –

Pre-tax Operating Income

First Quarter

2011

2012

2013

2014

Income from continuing operations, before tax

$                     2,100

$                        2,023

$                        5,133

$                        1,309

Adjustments to arrive at pre-tax operating income:

Net realized capital (gains) losses

(957)

(211)

(380)

(142)

Legal settlements

-

(17)

(13)

(8)

Other (income) expense -

net

5

(2)

72

-

Pre-tax operating income

$                     1,148

$                        1,793

$                        4,812

$                        1,159

First Quarter

2011

2012

2013

2014

Income from continuing operations, before tax

$                     2,956

$                        3,780

$                        6,505

$                        1,232

Adjustments to arrive at pre-tax operating income:

Legal settlements

-

(154)

(1,020)

(30)

Changes in fair value of securities designated to hedge

living benefit liabilities, net of interest expense

-

(37)

161

(76)

Change in benefit reserves and DAC, VOBA and SIA

related to net realized capital (gains) losses

327

1,201

1,486

(30)

Net realized capital (gains) losses

(6)

(630)

(2,037)

321

Pre-tax operating income

$                     3,277

$                        4,160

$                        5,095

$                        1,417

First Quarter

2011

2012

2013

2014

Income from continuing operations, before tax

$                         (77)

$                              15

$                            213

$                              77

Adjustments to arrive at pre-tax operating income:

Net realized capital (gains) losses

(20)

(6)

(8)

(1)

Pre-tax operating income (loss)

$                         (97)

$       ��                        9

$                            205

$                              76

Full Year

Full Year

Full Year

United Guaranty

($ in millions)

AIG Property Casualty

($ in millions)

AIG Life and Retirement

($ in millions)

42

March 31,

2011

2012

2013

2014

Net income attributable to AIG

$               20,622

$                 3,438

$                 9,085

$                 1,609

Adjustments to arrive at After-tax operating income attributable to AIG:

(Income) loss from discontinued operations

                    (2,448)

                          (1)

                        (84)

                         47

Net (income) loss from divested businesses

                        663

                     4,039

                        117

                        (12)

Uncertain tax positions and other tax adjustments

                          -  

                        543

                        791

                        (28)

Legal reserves (settlements) related to legacy crisis matters

                         13

                        353

                       (460)

                          (2)

Deferred income tax valuation allowance releases

                  (18,307)

                    (1,911)

                    (3,237)

                        (65)

Amortization of FRBNY prepaid commitment fee asset

                     2,358

                          -  

                          -  

                          -  

Changes in fair value of AIG Life and Retirement fixed maturity securities

   designated to hedge living benefit liabilities, net of interest expense

                          -  

                        (24)

                        105

                        (49)

Changes in benefit reserves and DAC, VOBA and SIA related to net

   realized capital gains

                        202

                        781

                     1,132

                        (12)

AIG Property Casualty other (income) expense – net

                          -  

                          -  

                         47

                          -  

Loss on extinguishment of debt

                       (480)

                         21

                        423

                        155

Net realized capital (gains) losses

                       (453)

                       (586)

                    (1,157)

                        138

Non-qualifying derivative hedging gains, excluding net realized capital gains

                        (84)

                        (18)

                          -  

                          -  

After-tax operating income attributable to AIG

$                 2,086

$                 6,635

$                 6,762

$                 1,781

Full Year

2013

Change in net premiums written

Increase in original currency

3.8%

Foreign exchange effect

(3.9%)

Decrease as reported in US $

(0.1%)

After-tax Operating Income Attributable to AIG

($ in millions)

Foreign exchange effect on net premiums written:

Full Year

Non-GAAP Reconciliation –

After-tax Operating Income and

Foreign Exchange Effect on NPW

1)

Includes results of ILFC.

(1)

43

Non-GAAP Reconciliation –

BVPS ex. AOCI, Premiums &

Deposits, Accident Year Combined Ratio, As Adjusted

March 31,

2011

2012

2013

2014

Total AIG shareholders’ equity

101,538

$           

98,002

$               

100,470

$             

103,833

$             

Less: AOCI

6,481

12,574

6,360

9,085

Total AIG shareholders’ equity, excluding AOCI

95,057

$             

85,428

$               

94,110

$               

94,748

$               

Total common shares outstanding

1,896,821,482

1,476,321,935

1,464,063,323

1,446,647,787

Book value per common share

53.53

$              

66.38

$                 

68.62

$                 

71.77

$                 

Book value per common share, excluding AOCI

50.11

$              

57.87

$                 

64.28

$                 

65.49

$                 

First Quarter

2011

2012

2013

2014

Premiums and deposits

24,392

$             

20,994

$                

28,809

$                

7,129

$                  

Deposits

(21,302)

(17,898)

(25,542)

(6,373)

Other

(541)

(632)

(671)

(159)

Premiums

2,549

$              

2,464

$                  

2,596

$                  

597

$                    

First Quarter

2011

2012

2013

2014

Loss ratio

78.3

73.9

66.7

67.1

Catastrophe losses and reinstatement premiums

(9.2)

(7.5)

(2.3)

(3.2)

Prior year development net of premium adjustments

(0.3)

(1.4)

(1.5)

(1.9)

Net reserve discount benefit (charge)

(0.1)

0.2

0.9

1.2

Accident year loss ratio, as adjusted

68.7

65.2

63.8

63.2

Acquisition ratio

18.1

19.9

19.7

19.9

General operating expense ratio

12.3

14.7

14.9

14.2

Expense ratio

30.4

34.6

34.6

34.1

Combined ratio

108.7

108.5

101.3

101.2

Catastrophe losses and reinstatement premiums

(9.2)

(7.5)

              ��       

(2.3)

(3.2)

Prior year development net of premium adjustments

(0.3)

(1.4)

(1.5)

(1.9)

Net reserve discount benefit (charge)

(0.1)

0.2

0.9

1.2

Accident year combined ratio, as adjusted

99.1

99.8

98.4

97.3

AIG Property Casualty

Accident Year Combined Ratio, As Adjusted

AIG Life and Retirement Premiums and Deposits

($ in millions)

Book Value Per Common Share - Ex. AOCI

($ in millions, except per share data)

Full Year

Full Year

December 31,

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and

individual

customers

through

one

of

the

most

extensive

worldwide

property-casualty

networks

of

any

insurer.

In

addition,

AIG

companies

are

leading

providers

of

life

insurance

and

retirement

services

in

the

United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at

www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage

is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer.

Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.