The AIG/American General life underwriting companies have been rated A+ (Superior) by AM Best effective June 17, 2008. While this represents a downgrade, an A+(Superior) rating puts AIG/American General on par (from an A.M. Best standpoint) with the majority of the structured settlement annuity underwriting companies like Metropolitan Life Insurance Company, The Prudential Insurance Company of America, Aviva Life Insurance Company, Allstate Life Insurance Company, Allstate Life Insurance Company of New York, Hartford Life Insurance Company.
All 3 underwriters of New York CPLR Article 50A and 50B structured judgment annuities are now rated equally by A.M. Best.
Further to AIG/Ameriacn General, the A.M. Best news release said “A.M. Best believes that AIG's life and retirement services and property/casualty franchises continue to maintain enviable franchise value and sustainable competitive advantages, and have the ability to generate significant earnings, product proliferation, overall diversification and considerable intellectual capital"
AIG/American General underwriting companies for structured settlements include American General Life Insurance Company, Home Office: Houston, TX and American International Life Assurance Company of New York, Home office: New York, NY.
Currently only 3 structured settlement annuity issuers maintain an A++ A.M. Best rating.