2328 2009
3,455,980,000 H 11,141,800,000 69% AIG 9.9% PICC21 20082009 2008 2010 1365 24 95518
2 3 7 12 26 32 33 49 51 52 53 54 55 56 58 59 148
65,914 71,348 88,668 101,878 119,771 / 1,508 604 (1,427) (2,605) (2,060) 1,478 1,689 3,229 3,716 2,866 / (336) 2,372 4,442 319 1,711 / 1,945 3,800 4,456 (370) 2,167 (1,005) (1,718) (1,465) 479 (384) 940 2,082 2,991 109 1,783 95,112 106,974 134,265 144,250 165,383 77,314 86,247 108,187 124,506 143,620 / 2,000 3,000 3,000 3,000 8,000 17,798 20,727 26,078 19,744 21,763 2 2009
11,137.3 13.8% 2,875.8 23.1% 1,197.71 17.6%932.96 16.6% 69.2% 33.0%102.2% 216.82 407.1%45.77 13.4% 17.83 1,535.8%8.6%8.1 1,653.83 14.7% 217.63 10.2% 1,099.40 280.14 34.2%111%40% 2009 3
100 95518 20 EVA 0001 69 4 2009
4 2009 5
95518 6 2009
AIA AIG AIA AIG 2009 7
Australian Casualty and Life Insurance Co. Ltd.Mercer Campbell, Cook & Knight IFAA 8 2009
/ 2009 9
10 2009
2009 11
1,197.71 17.6%40% 17.83 16.74216.82 174.061,653.83 217.63 23.5% 26.5% 10.26 40% 2009 12 2009
A1 21 20092009 2009 13
2009 2008 % % 93,296 100.0 80,019 100.0 (64,517) (69.2) (60,710) (75.9) (19,795) (21.2) (11,597) (14.5) (11,044) (11.8) (10,317) (12.9) (2,060) (2.2) (2,605) (3.3) 2009 2008 85,529 69,258 9,491 9,397 2,754 3,248 4,656 4,264 3,886 3,729 13,455 11,982 119,771 101,878 1,197.71 1,018.78 178.93 17.6% 14 2009
855.29 692.58 162.71 23.5% 46.56 42.64 3.92 9.2% 4 27.54 32.48 4.94-15.2% 2009 2008 70,700 59,000 6,005 6,016 2,018 2,437 3,223 2,932 2,677 2,317 8,673 7,317 93,296 80,019 932.96 800.19 132.77 16.6% 2009 15
2009 2008 % % (49,136) (69.5) (44,866) (76.0) (3,869) (64.4) (5,596) (93.0) (1,090) (54.0) (1,287) (52.8) (2,101) (65.2) (2,126) (72.5) (2,089) (78.0) (1,958) (84.5) (6,232) (71.9) (4,877) (66.7) (64,517) (69.2) (60,710) (75.9) 645.17 607.10 38.07 6.3%75.9%6.769.2% 491.36 448.66 42.70 9.5%76.0%69.5% 38.69 55.96 17.27-30.9%93.0%64.4% 16 2009
21.01 21.26 0.25-1.2%72.5%65.2% 20.89 19.58 1.31 6.7%84.5%78.0% 2009 2008 % % (15,692) (22.2) (9,471) (16.1) (2,540) (42.3) (815) (13.5) (334) (16.6) (346) (14.2) (651) (20.2) (350) (11.9) (289) (10.8) (295) (12.7) (289) (3.3) (320) (4.4) (19,795) (21.2) (11,597) (14.5) 14.5% 21.2% 2009 17
2009 2008 % % (6,914) (9.8) (6,752) (11.4) (1,129) (18.8) (1,073) (17.8) (307) (15.2) (370) (15.2) (544) (16.9) (469) (16.0) (523) (19.5) (438) (18.9) (1,627) (18.8) (1,215) (16.6) (11,044) (11.8) (10,317) (12.9) 7.0% 12.9%11.8% 18 2009
/ // 2009 2008 / / / / % % (1,042) (1.5) (2,089) (3.5) (1,533) (25.5) (1,468) (24.4) 287 14.2 434 17.8 (73) (2.3) (13) (0.4) (224) (8.4) (374) (16.1) 525 6.1 905 12.4 (2,060) (2.2) (2,605) (3.3) 26.05 20.60 20.9% 1.1 20.89 10.42 3.74 2.24 7.7 2009 19
2009 2008 92 80 2,469 2,540 305 1,096 2,866 3,716 28.66 37.16 8.508.04 2.42 2009 2008 1,308 3,326 / 199 (2,160) (847) 204 1,711 319 20 2009
17.11 3.19 13.92 23.5916.52 2009 2008 / 2,167 (370) (384) 479 1,783 109 165,383 144,250 / 21.673.70 25.37 3.84-4.79 8.63 1.09 16.74 17.83 0.160 2009 21
2009 2008 21,682 4,276 (22,900) (8,616) 2,620 711 / 1,402 (3,629) 216.82 42.76174.06 229.00 142.84 233.90 155.10 26.2019.09 50 16.8714.23 230.87 3 22 2009
5030 10 10010 20% 28% 14% 11.26 156.90 174.69 111% 2009 23
82.0% 84.2% 2.2 A.M. BestA- AA 24 2009
1 7 8.50 2080 1,595387 1,208 931419 512 60,202 68.47 2009 25
52147 28 29 26 2009
4,442 74.20 10% 13 2009 27
14 47 352 28 2009
336 7,685,820,000 100% 69.0% H H United States Treasury 1,103,038,000 31.92% 9.9% 1 AIG 1 2 1,103,038,000 31.92% 9.9% Jill M. Considine 1,103,038,000 31.92% 9.9% 1 Chester B. Feldberg 1,103,038,000 31.92% 9.9% 1 Douglas L. Foshee 1,103,038,000 31.92% 9.9% 1 Birmingham Fire Insurance 562,549,380 16.28% 5.05% Company of Pennsylvania 2 Commerce and Industry 330,911,400 9.58% 2.97% Insurance Company 2 Lexington Insurance 209,577,220 6.06% 1.88% Company 2 Mirae Asset Global 180,340,000 5.22% 1.62% Investments (Hong Kong) Limited Taube Hodson Stonex 176,164,000 5.10% 1.58% Partners LLP 2009 29
1. 1,103,038,000 HAIGAIGUnited States TreasuryAIG Credit Facility Trust Jill M. Considine Chester B. Feldberg Douglas L. FosheeAIG Credit Facility TrustUnited States Treasury Jill M. Considine Chester B. Feldberg Douglas L. Foshee AIG 1,103,038,000 H 2. Birmingham Fire Insurance Company of Pennsylvania Commerce and Industry Insurance Company Lexington Insurance Company AIG AIG Lexington Insurance Company 70% 336 31% 47 1. 2. 3. 1. 2. 3. 4. 47(a) (v) (vii) 14A 30 2009
2009 31
3 15 3 7 5 32 2009
A.4.2B.1.1 2009 33
A.4.2 B.1.1 3 107 40 4 14 3 4 34 2009
2 2 2 2 2 1 2 2 2 1. 2. 2009 35
33 7 40 100% / 7/7 100% 7/7 100% 7/7 100% 6/6 100% 7/7 100% 7/7 100% 7/7 100% 7/7 100% 7/7 100% 7/7 100% 36 2009
3 10 2009 37
/ 36 37 38 2009
2009 39
40 2009
1,636 32 5 24 100% / 5/5 5/5 5/5 100% 100% 100% 2009 41
42 2009
41 2 5 1 100% / 2/2 2/2 2/2 2/2 2/2 2/2 2/2 100% 100% 100% 100% 100% 100% 100% 2009 43
43 44 44 2009
4 6 45 2009 45
3 3 / / 46 2009
3 15 100% / 3/3 3/3 3/3 3/3 100% 100% 100% 100% 2009 47
10% 15 3% 10 2 48 2009
15 2008 2009 2009 2009 2009 2009 2121 21 2009 2009 2009 49
13 50 2009
52147 8 18 2009 51
2009 2008 5 119,771 101,878 5 93,296 80,019 6 (64,517) (60,710) 7 (19,795) (11,597) (11,044) (10,317) (2,060) (2,605) 8 2,866 3,716 9 1,711 319 (137) (260) (112) (215) 10 (6) (815) 351 357 (208) (295) 11 (264) (227) 26 (345) / 12 2,167 (370) 15 (384) 479 1,783 109 16 0.160 0.010 17 52 2009
2009 2008 1,783 109 18 10 41 (3) (10) 7 31 / 18 513 (5,859) (128) 1,465 385 (4,394) (156) 85 / 236 (4,278) / 2,019 (4,169) 2009 53
2009 2008 2008 12 31 12 31 1 1 19 32,143 29,056 30,789 20 16 6 21 58,458 41,291 28,465 22 14,683 6,438 16,978 23 17,170 20,758 13,770 89 24 14,426 17,461 9,653 25 10,947 11,415 9,880 26 644 750 1,025 28 12,282 12,136 11,721 29 706 605 532 30 3,750 3,769 3,866 34 69 565 165,383 144,250 126,679 20 35 31 16,595 18,258 9,813 32 418 252 296 926 1,314 33 20,625 14,998 9,636 34 2,056 35 92,695 79,689 68,663 36 5,287 7,383 7,953 37 8,000 3,000 3,000 143,620 124,506 102,766 39 11,142 11,142 11,142 10,621 8,602 12,771 21,763 19,744 23,913 165,383 144,250 126,679 54 2009
11,142 4,739 (183) 5 540 327 5,239 21,809 2.4 41 135 (17) (2,224) (2,065) 11,142 4,739 (142) 5 675 310 3,015 19,744 178 178 1,427 1,783 229 7 236 229 7 178 178 1,427 2,019 11,142 4,739* 87* 12* 853* 488* 4,442* 21,763 * 106.21200886.02 11,142 4,739 4,167 (26) 452 239 5,365 26,078 2.4 212 60 (2,437) (2,165) 11,142 4,739 4,167 (26) 664 299 2,928 23,913 11 11 87 109 / (4,309) 31 (4,278) / (4,309) 31 11 11 87 (4,169) 11,142 4,739* (142)* 5* 675* 310* 3,015* 19,744 2009 55
2009 2008 / 2,167 (370) : 8 (2,866) (3,716) 9 (1,711) (319) 112 215 10 6 815 (26) 345 12, 28 860 866 12, 29 29 23 12, 30 104 104 / 12 (6) 13 11 264 227 137 260 12 668 477 / 2,920 (7,465) / 174 (369) / (1,663) 8,445 / 166 (44) 5,340 2,626 16,041 3,218 22,716 5,351 (1,034) (1,075) 21,682 4,276 2,308 2,161 92 80 305 1,098 (85) (262) (1,126) (1,267) 20 4 7 171 (67,852) (39,263) 490 44,462 31,383 3 (5,899) (4,734) 3 4,214 2,177 (22,900) (8,616) 56 2009
2009 2008 (22,900) (8,616) 5,000 36 1,723 (2,208) (785) (208) (227) 2,620 711 / 1,402 (3,629) 21,685 25,314 23,087 21,685 19 4 17 19 17,393 15,204 3 19 5,690 6,464 23,087 21,685 2009 57
2009 2008 2008 12 31 12 31 1 1 19 32,141 29,054 30,786 20 16 6 21 58,458 41,291 28,465 22 14,683 6,438 16,978 23 17,170 20,758 13,770 89 24 14,426 17,461 9,653 25 10,947 11,415 9,880 26 812 972 972 27 3 3 3 28 12,282 12,136 11,721 29 706 605 532 30 3,750 3,769 3,866 34 69 565 165,552 144,473 126,626 20 35 31 16,595 18,258 9,813 32 418 252 296 926 1,314 33 20,625 14,998 9,636 34 2,056 35 92,695 79,689 68,663 36 5,287 7,383 7,953 37 8,000 3,000 3,000 143,620 124,506 102,766 39 11,142 11,142 11,142 10,790 8,825 12,718 21,932 19,967 23,860 165,552 144,473 126,626 58 2009
1 69 4 2.1 18,941200828,840 22,401200841,342 2009 59
2.2 1 27 2 7 8 1 18* 23 32 1 9 39 13 15 16 18 2008 10 1 27 2 7 18 32 1 9 39 2009 7 1 * 2009 2009 5 (a) 1 27 1 1 27 60 2009
2.2 (b) 2 2 (c) 7 7 40 43 (d) 8 8 14 8 14 4 (e) 1 1 2009 61
2.2 (f) 18 i iiiiiiv (g) 23 23 (h) 32 1 32 1 (i) 939 9 39 (j) 13 13 62 2009
2.2 (k) 15 153 11 18 (l) 16 16 i ii iii (m) 182009 7 1 18 (n) 5 2009 63
2.2 2 (a) (b) 365 365 64 2009
2.2 (c) (d) 2.5 12 (e) 2.4 2009 65
2.3 1 1 2 3 9 24 27 32 39 1 2 32 39 14 14 17 19 5 5 2008 10 4 2009 12 2009 238 916 5 8 1 7 173639 1 1 66 2009
2.3 2 8 211 2 2 3 27 7 1221 28 31 3 27 939 39 939 24 24 2009 67
2.3 32 39 14 iii 17 i iiiii 10 5 68 2009
2.3 19 39 5 2009 18 42009 17 4 161740 2009 69
2.4 2.2 2008 12 31 20,736 22 20,758 20,782 (3,321) 17,461 9,352 2,063 11,415 8,160 (8,160) 521 229 750 565 565 11,956 3,042 14,998 138 (138) 85,586 (5,897) 79,689 3,544 (3,544) 10,667 (2,065) 8,602 2008 1 1 13,898 (128) 13,770 11,136 (1,483) 9,653 8,365 1,515 9,880 7,490 (7,490) 8,109 1,527 9,636 2,777 (721) 2,056 73,115 (4,452) 68,663 1,775 (1,775) 14,936 (2,165) 12,771 70 2009
2.4 2008 12 31 20,736 22 20,758 20,782 (3,321) 17,461 9,352 2,063 11,415 8,160 (8,160) 565 565 11,956 3,042 14,998 138 (138) 85,586 (5,897) 79,689 3,544 (3,544) 11,119 (2,294) 8,825 2008 1 1 13,898 (128) 13,770 11,136 (1,483) 9,653 8,365 1,515 9,880 7,490 (7,490) 8,109 1,527 9,636 2,777 (721) 2,056 73,115 (4,452) 68,663 1,775 (1,775) 14,883 (2,165) 12,718 2009 71
2.4 2008 81,122 (1,103) 80,019 (60,604) (106) (60,710) (11,764) 11,764 (774) 774 (11,597) (11,597) (10,474) 157 (10,317) (533) 188 (345) 497 (18) 479 50 59 109 0.005 0.005 0.010 (4,319) 41 (4,278) (4,269) 100 (4,169) 72 2009
2.5 (a) (b) (c) (d) (e) (i) (ii) (iii) (a) (c) (c) (d) 2009 73
2.5 74 2009
2.5 2.77% 19.40% 16.17% 24.25% 8.82% 32.30% 2009 75
2.5 / 3% 3035 76 2009
2.5 39 39 2009 77
2.5 / a b 78 2009
2.5 2009 79
2.5 80 2009
2.5 a b 2009 81
2.5 39 39 82 2009
2.5 4 2009 83
2.5 84 2009
2.5 3 2009 85
2.5 86 2009
2.5 365 2009 87
2.5 / 88 2009
2.5 2009 89
2.5 13.0% 39.5% Black-Scholes42 (a) (b) (c) (d) 90 2009
2.5 10% 50% 25% 10% 2009 91
3. 39 39 92 2009
3. 4 39 i ii 25 2009 93
3. / 94 2009
4. (a) (b) (c) (d) (e) (f) / / / / 2008 2009 10% 2009 95
4. 2009 85,529 9,491 2,754 4,656 3,886 13,455 119,771 70,700 6,005 2,018 3,223 2,677 8,673 93,296 (49,136) (3,869) (1,090) (2,101) (2,089) (6,232) (64,517) (15,692) (2,540) (334) (651) (289) (289) (19,795) (6,914) (1,129) (307) (544) (523) (1,627) (11,044) / (1,042) (1,533) 287 (73) (224) 525 (2,060) 119 2,747 2,866 9 1,702 1,711 (5) (132) (137) (112) (112) (6) (6) (264) (264) 143 143 26 26 / (1,042) (1,533) 287 (73) (224) 536 4,216 2,167 (384) (384) / (1,042) (1,533) 287 (73) (224) 536 3,832 1,783 96 2009
4. 2008 69,258 9,397 3,248 4,264 3,729 11,982 101,878 59,000 6,016 2,437 2,932 2,317 7,317 80,019 (44,866) (5,596) (1,287) (2,126) (1,958) (4,877) (60,710) (9,471) (815) (346) (350) (295) (320) (11,597) (6,752) (1,073) (370) (469) (438) (1,215) (10,317) / (2,089) (1,468) 434 (13) (374) 905 (2,605) 210 3,506 3,716 / (60) 379 319 (7) (253) (260) (215) (215) (815) (815) (227) (227) 62 62 (345) (345) / (2,089) (1,468) 434 (13) (374) 833 2,307 (370) 479 479 / (2,089) (1,468) 434 (13) (374) 833 2,786 109 2009 97
4. 2009 6,644 4,769 1,263 1,843 1,690 17,814 131,360 165,383 76,218 9,902 2,677 5,728 3,900 24,252 20,943 143,620 2008 12,245 8,487 1,235 1,699 1,607 15,240 103,737 144,250 67,765 10,851 2,216 5,614 5,611 21,733 10,716 124,506 98 2009
5. 2009 2008 119,464 101,655 307 223 119,771 101,878 119,771 101,878 (16,422) (24,504) 103,349 77,374 35 (10,053) 2,645 93,296 80,019 6. 2009 2008 71,812 66,757 (13,283) (11,910) 58,529 54,847 35 5,988 5,863 64,517 60,710 2009 99
7. 2009 2008 12,089 8,617 (3,466) (6,759) 3,827 3,583 6,161 5,225 32 956 774 228 157 19,795 11,597 8. 2009 2008 92 80-74 99 131 935 3 23 1,469 1,227 174 161 1 922 1,191 2,866 3,716 100 2009
9. 2009 2008 1,276 2,928 (872) 32 398 / 199 (2,189) 29 25 204 1,711 319 10. / 2009 2008 / 1 (691) (1) (39) (6) (85) (6) (815) 2009 101
11. 2009 2008 178 122 38 44 48 61 264 227 12. / / / 2009 2008 18 18 28 860 866 29 29 23 30 104 104 13 6,164 5,885 / 1 (445) 682 600 23 668 477 357 370 / (6) 13 102 2009
13. 161 2009 2008 1,382 1,382 : 2,065 3,581 1,216 622 975 5,285 5,938 (a) 2009 2008 249 249 249 249 249 249 249 249 996 996 2008 2009 103
13. (b) 2009 636 176 812 : 636 176 812 515 180 695 : 137 1,216 1,353 278 90 368 249 249 386 2,065 1,216 622 4,289 2008 42 104 2009
13. (b) 2008 700 330 288 1,318 : 605 285 214 1,104 567 267 224 1,058 233 110 152 495 : 137 137 339 145 97 581 249 249 386 2,444 1,137 975 4,942 1 2009 105
14. 15. 25% 2008 25% 2009 2008 36 1,036 (17) (349) 34 365 (1,166) / 384 (479) // 2009 2008 % % / 2,167 (370) 25% 2008 25% 542 25 (93) 25 (209) (10) (382) 103 68 4 345 (93) (17) (1) (349) 94 / 384 18 (479) 129 106 2009
16. 17.8320081.09 111.42 2008 111.42 17. 2008 18. 2009 2008 10 41 / 1,789 (3,803) (1,276) (2,056) 513 (5,859) 2009 107
19. 2009 2008 2008 2009 2008 2008 12 31 12 31 1 1 12 31 12 31 1 1 4 17 27 4 17 27 17,393 15,204 14,761 17,391 15,202 14,758 3 2,896 2,896 3 5,690 6,464 7,630 5,690 6,464 7,630 3 6,907 5,706 2,054 6,907 5,706 2,054 136 729 136 729 2,149 1,529 2,692 2,149 1,529 2,692 32,143 29,056 30,789 32,141 29,054 30,786 32,143 28,920 30,060 32,141 28,918 30,057 136 729 136 729 32,143 29,056 30,789 32,141 29,054 30,786 39 108 2009
20. 2009 2008 2008 12 31 12 31 1 1 / 16 6 (35) 2009 12 312008 12 312008 1 1 7 2.900% 2010 8 10 1 4.000% 2014 5 18 850 0.0720080.31 2009 109
21. 2009 2008 2008 12 31 12 31 1 1 9,743 12,778 10,828 3,639 1,940 1,928 13,382 14,718 12,756 11,975 5,537 3,512 19,275 13,738 8,505 13,326 7,298 3,692 44,576 26,573 15,709 500 58,458 41,291 28,465 1,649 2,498 4,284 56,309 38,793 24,181 500 58,458 41,291 28,465 110 2009
22. 2009 2008 2008 12 31 12 31 1 1 616 1,087 2,435 7,278 2,704 11,590 7,894 3,791 14,025 6,166 2,270 2,953 623 377 14,683 6,438 16,978 2,711 2,415 5,886 11,972 4,023 11,092 14,683 6,438 16,978 2009 111
23. 2009 2008 2008 12 31 12 31 1 1 6,044 8,309 7,229 13,262 13,948 7,563 19,306 22,257 14,792 (2,127) (1,494) (1,017) (9) (5) (5) 17,170 20,758 13,770 2009 2008 2008 12 31 12 31 1 1 / 8,641 12,591 6,338 1,126 1,743 1,944 1,549 2,775 2,290 5,854 3,649 3,198 17,170 20,758 13,770 112 2009
23. : 2009 2008 1,499 1,022 668 477 (31) 2,136 1,499 24. 2009 2008 2008 12 31 12 31 1 1 : 35 4,636 9,213 4,039 35 9,790 8,248 5,614 14,426 17,461 9,653 2009 113
25. 2009 2008 2008 12 31 12 31 1 1 3,290 3,780 3,780 (i) 2,228 2,228 2,228 1,173 1,012 633 (ii) 653 830 827 (iii) 395 289 427 47 c 9 305 36 47 c 14 4 47 c 1 5 3,184 2,962 1,949 10,947 11,415 9,880 (i) 20% (ii) 1.96% 5.8820085.88) (iii) 3.402008 3.402008 32.89 2008 38.78 114 2009
26. 2009 2008 2008 2009 2008 2008 12 31 12 31 1 1 12 31 12 31 1 1 812 972 972 19 26 33 16 16 16 609 708 976 644 750 1,025 812 972 972 2009 12 31 5,417 14 2008 12 312008 1 1 2,708 28 800 20 2009 115
26. 28%14% 2.28 47 a iii 2009 2008 2008 12 31 12 31 1 1 13,030 12,059 2,341 (12,421) (11,535) (1,544) 609 524 797 2009 2008 12,541 1,993 / 13 (358) 116 2009
27. 2009 2008 2008 12 31 12 31 1 1 3 3 3 * 0.5 100 * 0.5 90 * 1.0 100 * 0.1 100 * 2009 117
28. 10,207 1,551 3,101 2,164 17,023 218 219 372 306 1,115 / 220 (220) 29) (142) (142) (5) (170) (190) (365) 10,498 1,600 3,283 2,250 17,631 (1,999) (965) (1,923) (4,887) (339) (151) (370) (860) 29) 47 47 4 165 182 351 (2,287) (951) (2,111) (5,349) 8,211 649 1,172 2,250 12,282 118 2009
28. 10,132 1,530 2,817 1,744 16,223 75 223 494 602 1,394 / 158 24 (182) 29 (134) (134) (24) (202) (234) (460) 10,207 1,551 3,101 2,164 17,023 (1,695) (1,019) (1,788) (4,502) (366) (140) (360) (866) 29 38 38 24 194 225 443 (1,999) (965) (1,923) (4,887) 8,437 511 1,029 1,744 11,721 8,208 586 1,178 2,164 12,136 3.3620083.35 21.30 2008 19.45 2009 119
29. 2009 2008 815 681 28 142 134 30 41 998 815 (210) (149) (29) (23) 28 (47) (38) 30 (6) (292) (210) 706 605 11.2020089.00 30. 2009 2008 3,769 3,866 120 7 (104) (104) 29 (35) 3,750 3,769 120 2009
30. 2009 2008 2008 12 31 12 31 1 1 83 85 88 3,667 3,684 3,778 3,750 3,769 3,866 31. : 2009 2008 2008 12 31 12 31 1 1 16,595 18,258 9,813 3 2009 121
32. 2009 2008 252 296 7 956 774 (790) (818) 418 252 0.8%2008 1% 6% 2008 6% 33. 2009 2008 2008 12 31 12 31 1 1 8,629 4,659 2,639 1,760 1,724 1,605 1,529 1,364 938 532 475 480 187 78 78 47 c 19 20 47 c 69 5 7,437 6,452 4,580 20,625 14,998 9,636 17.60 200817.24 122 2009
34. 510 76 586 / 15 3 (35) (32) 513 41 554 98 (1) (118) (21) 15 (333) (333) (128) (3) (131) (30) (4) (451) (485) 69 2009 123
34. 215 (1,367) (338) (1,490) 15 295 414 709 1,465 1,465 510 98 76 684 9 (575) (566) 15 457 457 (10) (10) (1) (118) (119) 565 124 2009
35. 2009 2008 2008 12 31 12 31 1 1 44,872 39,396 36,867 47,823 40,293 31,796 92,695 79,689 68,663 2009 2008 24 24 39,396 (9,213) 30,183 36,867 (4,039) 32,828 19,834 (523) 19,311 20,354 (5,323) 15,031 (14,358) 5,100 (9,258) (17,825) 149 (17,676) 44,872 (4,636) 40,236 39,396 (9,213) 30,183 40,293 (8,248) 32,045 31,796 (5,614) 26,182 79,342 (14,825) 64,517 75,254 (14,544) 60,710 (71,812) 13,283 (58,529) (66,757) 11,910 (54,847) 47,823 (9,790) 38,033 40,293 (8,248) 32,045 92,695 (14,426) 78,269 79,689 (17,461) 62,228 2009 125
36. 2009 2008 2008 12 31 12 31 1 1 2,969 5,147 5,926 2,318 2,236 2,027 5,287 7,383 7,953 1 3 5 37. 30 10 54.08%6.08% 5 50 10 54.30%6.30% 5 82.49200832.79 126 2009
38. (a) Bornhuetter-Ferguson bootstrapping 50 Bornhuetter-Ferguson bootstrapping 50 Berquist-Sherman Bornhuetter-Ferguson 2009 127
38. (a) 3.2% 20072008 (b) 115.772008 205.33 128 2009
39. 2009 2008 2008 12 31 12 31 1 1 : 7,685,820,000 1.00 7,686 7,686 7,686 3,455,980,000 1.00 H 3,456 3,456 3,456 11,142 11,142 11,142 40. 2,711 2,711 542 1,107 1,649 16 16 11,349 11,349 12,054 44,255 56,309 26,656 45,378 72,034 2009 129
41. 2009 12 31 2008 12 31 17,469 15,690 111% 16,762 11,546 145% 130 2009
42. H 1 H 10% 1% 5 2 3 4 5 25% 50% 75% 100%5 5 ih ii H H 2008 1 2009 131
43. (a) (1) 21 AA 3 A.M. BestA 114.00 2008 109.45 132 2009
43. (a) (1) 2009 2008 32,143 29,056 16 6 58,458 41,291 17,170 20,758 9,019 9,342 116,806 100,453 2009 133
43. (a) (1) 30 31 90 90 32,143 32,143 16 16 58,458 58,458 8,771 663 1,226 5,087 6,976 3,559 19,306 9,019 340 9,359 108,407 663 1,226 5,087 6,976 3,899 119,282 (2,476) (2,476) 108,407 663 1,226 5,087 6,976 1,423 116,806 30 31 90 90 29,056 29,056 6 6 41,291 41,291 12,840 960 2,192 2,283 5,435 3,982 22,257 9,342 340 9,682 92,535 960 2,192 2,283 5,435 4,322 102,292 (1,839) (1,839) 92,535 960 2,192 2,283 5,435 2,483 100,453 134 2009
43. (a) (2) 14% 2008 15%3 2009 135
43. (a) (2) 3 3 12 1 5 5 17,878 8,010 2,250 3,027 2,151 33,316 8 9 17 1,920 7,433 33,237 23,170 65,760 6 420 957 458 1,841 23 96 740 859 3,119 7,548 3,311 587 14,565 302 1,333 741 2,376 11,399 4,144 954 95 3 16,595 17,739 56,907 16,570 1,769 92,985 567 1,767 713 398 1,842 5,287 1 398 2,055 9,354 11,808 136 2009
43. (a) (2) 3 3 12 1 5 5 15,507 6,962 2,889 3,122 1,981 30,461 (3) 8 1 6 1,376 8,683 19,145 14,833 44,037 160 992 907 665 2,724 2,974 11,736 2,765 130 17,605 574 1,904 2,478 3,802 4,615 9,439 400 2 18,258 15,788 49,158 14,527 502 79,975 1,458 439 2,078 3,388 20 7,383 123 792 3,365 4,280 2009 137
43. (a) (2) 2009 2008 * * 27,995 4,148 32,143 25,090 3,966 29,056 16 16 6 6 9,831 48,627 58,458 10,675 30,616 41,291 2,711 11,972 14,683 2,415 4,023 6,438 16,917 253 17,170 20,209 549 20,758 89 89 10,576 3,850 14,426 14,613 2,848 17,461 7,050 3,897 10,947 7,102 4,313 11,415 644 644 750 750 12,282 12,282 12,136 12,136 706 706 605 605 3,750 3,750 3,769 3,769 69 69 565 565 75,169 90,214 165,383 80,104 64,146 144,250 * 12 138 2009
43. (a) (3) (i) 101.27200873.47 7.8620087.81 2009 2008 / +5% 549 549 390 390 5% (549) (549) (390) (390) 2009 139
43. (a) (3) (ii) / 1 7 (iii) 99% 200895% 2008 140 2009
43. (a) (3) (iii) 2009 2008 353 768 1,371 876 (b) 2009 141
43. (b) 2009 2008 54,384 46,266 46,395 33,919 25,109 21,975 20,773 16,423 17,394 15,508 15,385 12,091 13,647 11,891 11,462 9,029 9,237 7,709 7,863 5,912 119,771 103,349 101,878 77,374 44. 142 2009
45. 120 1 2008 1 2009 2008 1 175 192 2-5 194 283 5 66 69 435 544 46. 45 2009 2008 273 249 1,500 273 1,749 2009 143
47. (a) 2009 2008 (i) 108 (i) 6 (i) 12 (i) 2 (ii) 2 (iii) 24 (iv) 251 (v) 154 76 (v) 3 1 (v) (vi) 86 (vi) 73 (vii) 33 2 (vii) 16 9 (i) (ii) iii iii iv (iii) 20% 1.71 144 2009
47. (a) (iv) 1.760.75 (v) (vi) (vii) 48 2009 145
47. (b) (c) 2009 2008 2009 2008 9 305 14 4 69 5 1 5 19 24 314 69 24 (d) 2009 2008 1,787 3,097 532 878 2,319 3,975 13 146 2009
48. (a) (b) (c) 3.50 6.00 9.75 47 avi 14% 9% 49. 2.2 50. 2009 147
100% 17 100% 50, 100% 2, 100% 66, 100% 57 6,836 76,362 99% 2010 5 100% 4 148 2009
PICC Property and Casualty Company Limited PICC P&C H H 2328 H 69100052 www.piccnet.com.cn (8610) 83157607 (8610) 83157607 IR@picc.com.cn
2328 2009