Standard & Poor's Ratings Services (S&P) has lowered its long-term counterparty rating on AIG to 'A-' from 'AA-' and its short-term counterparty credit rating on AIG to 'A-2' from 'A-1+'.
At the same time the ratings company lowered its counterparty credit and financial strength ratings on most of AIG's insurance operating subsidiaries to 'A+' from 'AA+'.
All of these ratings remain on CreditWatch with negative implications, where they were placed on September 12, 2008.
The main reason for
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018
- Consolidation opens up opportunities, says Romero boss
- Up to 275 jobs at risk at Axa XL in the UK
- Ghost broker jailed for two years