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American International Group Inc. And Subsidiaries
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Well-diversified cash flows from the property/casualty and life insurance operations. Strong competitive positions in the property/casualty and life businesses that are well diversified by global profile and product offerings. Strong capital base. Continued, albeit diminishing, support from the U.S. government at the holding company level. Chartis' operating performance is weaker, in our opinion, than that of similarly rated peers. SunAmerica's capital deficiency at the rating level. Enterprise risk management, though adequate and improving, is marginal, in our view, given the complex risk exposures. Materially diminished, though sizable, contingent liquidity exposure from the non-insurance subsidiaries. The 'A-' counterparty credit rating on American International Group Inc. (AIG) reflects our opinion of the diverse cash flows that AIG derives from its property/casualty (Chartis)...
Action: Review
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