What did A. M. Best say about American General Life Insurance Company in 2006?
“The upgrading of the ratings for AIG’s life and retirement savings subsidiaries reflects
its consistently strong earnings performance, conservative financial management, solid
risk-adjusted capitalization and a sound liquidity position. Furthermore, AIG’s life and
annuity subsidiaries hold market-leading sales positions attributable to the diverse
portfolio of its life and wealth-accumulation products, as well as the strength of the AIG
brand in the domestic and international marketplace.”
The 2006 Best rating action applied to American General Life and American Internatonal Life Assurance Company of New York which, at the time, were the main companies in the AIG familiy of companies issuing structured settlement annuities
I confirmed with AIG at the time of original posting that the rating change alos applied to AGC Life Insurance Company, the guarantor of qualified assignment ompany forall structured settlement annuities currently placed with American General LifeInsurance Company or United States Life Insurnace Company in the City of New York as annuity issuer.
This was good news for the structured settlement industry and all of the clients it serves.
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