AM Best Upgrades Issuer Credit Ratings for American International Group, Inc. and Its Property/Casualty Subsidiaries

Core Viewpoint - AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) of AIG's property/casualty insurance subsidiaries to "a+" from "a" and affirmed the Financial Strength Rating (FSR) of A (Excellent), with stable outlooks for both ratings [1][3]. Group 1: Credit Ratings and Outlook - The Long-Term ICRs have been upgraded to "a+" (Excellent) from "a" (Excellent) and the FSR of A (Excellent) has been affirmed, with the outlook for the Long-Term ICRs revised to stable from positive [1][3]. - The outlook of the FSR is maintained at stable [1]. Group 2: Financial Strength and Performance - AIG PC's balance sheet strength is assessed as very strong, with a risk-adjusted capital position at the strongest level, benefiting from improving underwriting performance and strong reinsurance support [1][2]. - AIG PC's operating performance is considered adequate, with historical combined and operating ratios lagging behind composite peers, but showing a steady improvement trend due to underwriting and risk management initiatives [2]. Group 3: Business Profile - AIG PC's business profile is assessed as favorable, reflecting its market position and presence in both domestic and global markets, with deep expertise in commercial lines and diverse distribution channels [2].