A.M. Best Co. has affirmed the financial strength ratings and issuer credit ratings of the property/casualty and life/health subsidiaries of American International Group, Inc. ("AIG") on December 20, 2010, at "A" (Excellent). The arting AIG's current structured settlement annuity issuing companies are:
- American General Life Insurance Company
- United States Life Insurance Company in The City of New York (as of 12/31/2010)*
Subsidaries that are former structured annuity issuing companies are:
- The Variable Annuity Life Insurance Company (" VALIC")
- Western National Life Insurancee Company
Also included in the rating action is AGC Life Insurance Company, an upstream holding company that currently serves as guarantor on non New York structured settlements where there has been a qualfied assignment of periodic payment obligation to American General Annuity Service Company. For abrief period of time, when The Variable Annuity Life Insurance Company was the New York structured annuity issuer for American General, AGC LIfe Insurance Company also served as guarantor on that program.
*United States Life Insurance Company in the City of New York, a subsidiary of AIG company, American General, is a 160 year old insurance company that will be the surviving company of the 12/31/20110 merger between it and American Intrernatioanl Life Assurance Company of New York.
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