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Article: A.M. Best Comments on Restructuring of American International Group's Global Property/Casualty Business.
- Article from:
- Insurance Business Weekly
- Article date:
- May 17, 2009
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A.M. Best Co. has commented that the ratings and outlook of the property/casualty subsidiaries of American International Group, Inc. (AIG) (New York, NY) remain unchanged following the company's announcement of the acceleration of its restructuring and re-branding of its global property/casualty operations, AIU Holdings. (See below for a detailed list of the companies and ratings.)
The domestic and foreign property/casualty subsidiaries of AIG will be placed in a special purpose vehicle (SPV), and AIG will purchase from AIU Holdings its equity interests in certain AIG affiliates.
While capital and surplus remain unchanged, the quality of capital in these ...
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