Abstract
AIG 's Life subsidiary rating was taken care of by the oldest rating firm A.M Best Co, which started functioning in the year 1899. The article below reveals AIG or American International Group 's insurance ratings.
Ratings of AIG 's Life and casualty, property subsidiaries:
A.M Best Co. was responsible for carrying out AIG 's Life Subsidiary rating. AIG 's Life Subsidiary rating was performed for two different categories of the subsidiaries. AIG 's Life as well as casualty and property subsidiaries were earlier under review. This was the status as of March, 2005. Owing to this, the financial strength rating of these subsidiaries were changed from A++ to A+. With regard to the issuer credit rating or the ICR, the rating was changed from “aa+” to “aa-”(as of May, 2004). This parameter was also kept under review.
The subsidiaries of AIG Life under this category includes the following companies:
AIG Global Trade & Political Risk Insurance Company
Commerce and Industry Insurance Company of Canada
AIU Insurance Company
Granite State Insurance Company
American Home Assurance Company
Birmingham Fire Insurance Company of Pennsylvania
Commerce and Industry Insurance Company
Illinois National Insurance Company
American International Pacific Insurance Company
National Union Fire Insurance Company of Louisiana
American International South Insurance Company
Insurance Company of the State of Pennsylvania
American International Specialty Lines Insurance Company
National Union Fire Insurance Company of Pittsburgh, Pennsylvania
New Hampshire Insurance Company
Audubon Indemnity Company
American International Insurance Company of Puerto Rico
Audubon Insurance Company
AIG 's Life subsidiary rating for property/casualty companies indicate that the companies have the capability of generating revenues. They are also capable of product innovation. These companies are geographically diversified and the underwriting capacity is also pronounced. It also maintains competitive advantage.
Ratings of AIG 's Life and retirement savings subsidiaries:
The ratings for the companies in this category were upgraded. The ratings indicated that the subsidiaries are efficient in financial management, they have a sound capitalization,which is risk adjusted and has enough liquidity.
A.M Best Co., assigned a grade of A++ from A+ in this category for the financial strength rating. As far as issuer credit rating of the retirement subsidiaries are concerned, the rating agency alloted “aa+” from “aa-”.
The different subsidiaries of AIG or American International Group include:
AIG Annuity Insurance Company
The Variable Annuity Life Insurance Company
American Life Insurance Company
Delaware American Life Insurance Company
AIG Assurance Canada
AIG Sun America Life Assurance Company
American International Life Assurance Company of New York
AGC Life Insurance Company
First Sun America Life Insurance Company
American General Assurance Company
Sun America Life Insurance Company
AIG Life Insurance Company of Canada
United States Life Insurance Company in the City of New York
AIG Life Insurance Company
American General Life Insurance Company
AIG Life Insurance Company of Puerto Rico
American General Life and Accident Insurance Company
The Transatlantic Holdings Inc Group was assigned a rating of A+ for the financial strength rating and for the issuer credit rating the grade assigned was “aa-”.
A.M Best Co., alloted a grade of A++ as financial strength rating and for the issuer credit rating a grade of “aa+” was assigned to Hartford Steam Boiler Group.