A.M. Best Places AIG Ratings Under Review

A.M. Best has placed under review with negative implications the issuer credit rating of American International Group Inc. and the financial strength ratings and ICRs of its insurance subsidiaries. The under review status reflects the strengthening of loss reserves in AIG’s non-life business by $3.6 billion during the fourth quarter of 2015, primarily reflecting adverse development on prior accident years in longer-tailed lines of business, A.M. Best said in a news release on Wednesday. While the reserve actions are spread across a number of accident years, A.M. Best is concerned that ...