______________________ American International Group, Inc. 130 countries worldwide Assets of $400+ billion US Triple AAA rated AIG Life of Canada.
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______________________
American International Group, Inc.
130 countries worldwide
Assets of $400+ billion US
Triple AAA rated
AIG Life of Canada
AIG Life of Canada
Ten Largest NYSE-Listed Companies
July 2002 July 2002 July 2001Company Name Symbol Market Cap NYSE Average Market Cap
($bil.) Daily Volume ($bil.)
General Electric Co. GE 320.0 37,592,008 432.0Exxon Mobil Corp XOM 249.3 19,085,206 289.4Wal-Mart Stores WMT 218.8 11,676,937 249.9Pfizer Inc PFE 202.0 32,319,382 260.3Citigroup Inc C 172.6 32,956,970 252.2American International Group AIG 167.0 9,494,810 194.2Johnson & Johnson JNJ 159.6 15,614,087 150.5Coca-Cola Co. KO 124.0 8,069,174 110.8Intl Business Machines Corp IBM 120.5 11,192,451 185.5Procter & Gamble Co. PG 115.7 5,379,614 92.0
Worldwide Operations• One of the strongest financial institutions in the
world• Founded in Shanghai in 1919• 1939 Headquarters moves to New York• Worldwide assets: (US) $400 billion +• Net Free Capital: (US) $44 billion• One of the few financial institutions in the World
with the highest rating-Triple A from all world class rating agencies– AM Best - AAA– Moody’s - Aaa– Standard & Poor’s - AAA
• Presence in 130 countries
AIG Head Quarters
70 Pine Street NY, USA
AIG Head Quarters
70 Pine Street NY, USA
Standard & Poor’s Credit Ratings (a)Standard & Poor’s Credit Ratings (a)Standard & Poor’s Credit Ratings (a)Standard & Poor’s Credit Ratings (a)
(1)(1) July 2002July 2002
(2)(2) Financial Strength RatingFinancial Strength Rating
(3)(3) Senior long-term debtSenior long-term debt
(1)(1) July 2002July 2002
(2)(2) Financial Strength RatingFinancial Strength Rating
(3)(3) Senior long-term debtSenior long-term debtAIG Life of CanadaAIG Life of CanadaAIG Life of CanadaAIG Life of Canada
Great-West LifeGreat-West LifeManulifeManulifeSun LifeSun Life
Great-West LifeGreat-West LifeManulifeManulifeSun LifeSun Life
Clarica LifeClarica LifeCanada LifeCanada Life
CIBCCIBCTD BankTD Bank
Royal BankRoyal BankRoyal Trust Royal Trust
Bank of MontrealBank of MontrealLife Insurers (2)Life Insurers (2) Banks (3)Banks (3)
MaritimeMaritime
Our story so far in Canada
• Alico, 1979 to 1993• AIA, 1993 to 1998• AIG Life of Canada, June 1998 to
present• Hartford Life acquisition, September
1999• Norwich union purchase, May 2001
Our Growth
Sales:• 1998 $4 million of premium• 1999 $9.4 million of premium• 2000 $58.2 million of premium• 2001 $120 million of premium
AIG Life of Canada
AIG Number 1 in UL sales for the last 6 quarters
LIMRA survey - based on minimum premium
AIG Life of Canada
UL Strengths:-Life Dimensions/Ultimate Dimensions/Unique Life
• lowest YRT rates in the industry
• strong accumulation product
• guaranteed bonus
• more investment choices than any other carrier
AIG Life of Canada
YRT Costs:-
• generally 25-35% lower than competition
• 1st 10 years - select rates
• YRT COI’s are guaranteed
• drop charges off at age 85 (Maximizer)
• concepts most prevalent - Insured Retirement, RCA’s, Split Dollar (TIPS)
AIG Life of Canada
Guaranteed bonus:-
• 1.5% starting in year 6
• unconditional
• in force policy only requirement
AIG Life of Canada
Investment Choices
• virtually any equity backed mutual fund can be investment choice
• 11 strategic partners
• AGF, AIC, AIM, CI, Counsel, Dynamic, Fidelity, Franklin, Mackenzie, SEI Funds, Talvest, Templeton
• over 600 choices in total
AIG Life of Canada
Ultimate Dimensions - High Net Worth UL
What Producers told us;
• lower surrender charges
• lower MERS
AIG Life of Canada
• choice of 2 or 10 year surrender charge
• lower MERs– 1.5% for indexes– 3.0 for “managed money”
AIG Life of Canada
• same investment choices as Life Dimensions
• drop YRT charges at age 85
• maximizer as early as year 2 (ART rider)
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