AM Best keeps AIG under review
AM Best is maintaining its existing under review status of the financial strength ratings (FSR) of member companies of American International Group, (AIG) following AIG’s announcement that it has reached a $1.64bn settlement ($1.15bn after tax) with the United States Department of Justice, the Securities and Exchange Commission, the Office of the New York Attorney General and the New York State Insurance Department.
It is important to note that this resolves the well publicized outstanding litigation and negotiations with these agencies in connection with accounting, financial reporting and insurance brokerage
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