AIG Provides Preliminary Estimate of Losses Related to Sandy

  AIG Provides Preliminary Estimate of Losses Related to Sandy

Business Wire

NEW YORK -- December 07, 2012

American International Group, Inc. (NYSE:AIG) announced today that its
preliminary estimate of AIG’s after-tax losses related to Storm Sandy, net of
reinsurance, will total approximately $1.3 billion.

This estimate reflects a pre-tax loss estimate, net of reinsurance, totaling
approximately $2.0 billion.

AIG expects to make a capital contribution to its U.S. property casualty
insurance subsidiaries of $1 billion from existing, readily available funds.
In 2012, AIG Property Casualty has paid dividends to AIG Inc. totaling $2.4
billion. As of September 30, 2012, AIG Property Casualty’s equity totaled
$49.6 billion, and AIG Inc.’s equity totaled $102.4 billion.

This preliminary estimate involves the exercise of considerable judgment. Due
to the complexity of factors contributing to the losses, there can be no
assurance that AIG’s ultimate losses associated with this storm will not
differ from this estimate, perhaps materially.

Losses related to Storm Sandy will be reflected in AIG’s fourth quarter 2012
results, and any subsequent changes will be recorded in the period in which
they occur.

This press release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
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. Except for AIG’s ongoing obligation to
disclose material information as required by federal securities laws, 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. Factors that could cause these
forward-looking statements to differ, possibly materially, from that currently
contemplated include the factors set forth in AIG’s filings with the United
States Securities and Exchange Commission.

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 jurisdictions, 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.

Contact:

AIG
Jon Diat, 917-239-9241 (Media)
jon.diat@aig.com
Jim Ankner, 917-882-7677 (Media)
james.ankner@aig.com
Liz Werner, 212-770-7074 (Investors)
elizabeth.werner@aig.com