A.M. Best Withdraws Ratings of Six Life Insurance Subsidiaries of American International Group, Inc. Due to Legal Entity Merg...
January 04 2013 - 4:17PM
Business Wire
A.M. Best Co. has withdrawn the financial strength rating
of A (Excellent) and issuer credit ratings of “a” of six domestic
life insurance subsidiaries of American International Group,
Inc. (AIG) (NYSE: AIG): SunAmerica Annuity and Life
Assurance Company (SALAC) (Phoenix, AZ), SunAmerica Life
Insurance Company (SLIC) (Phoenix, AZ), Western National
Life Insurance Company (WNLIC) (Amarillo, TX), American
General Assurance Company (AGLA) (Schaumburg, IL), American
General Life and Accident Insurance Company (AGLAIC)
(Nashville, TN) and American General Life Insurance Company of
Delaware (AGLICDE) (Wilmington, DE).
Effective December 31, 2012, the aforementioned companies merged
with and into American General Life Insurance Company
(AGLIC) (Houston, TX), AIG’s lead U.S. life insurance company.
These transactions are part of AIG’s ongoing strategy to streamline
its insurance company structure into fewer operating companies in
order to maximize efficiency. As a result of the mergers, SALAC,
SLIC, WNLIC, AGLA, AGLAIC and AGLICDE policyholders have become
policyholders of AGLIC.
The methodology used in determining these ratings is Best’s
Credit Rating Methodology, which provides a comprehensive
explanation of A.M. Best’s rating process and contains the
different rating criteria employed in the rating process. Best’s
Credit Rating Methodology can be found at
www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world’s oldest and
most authoritative insurance rating and information source. For
more information, visit www.ambest.com.
Copyright © 2013 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
American (NYSE:AIG)
Historical Stock Chart
From Aug 2024 to Sep 2024
American (NYSE:AIG)
Historical Stock Chart
From Sep 2023 to Sep 2024