OLDWICK, N.J., November 20, 2025--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" (Excellent) of American International Group, Inc.’s (AIG) property/casualty (P/C) insurance subsidiaries (collectively referred to as AIG PC). Concurrently, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICR of "bbb+" (Good) of AIG (headquartered in New York, NY) [NYSE: AIG]. (Please see below for a detailed listing of the companies and ratings.)
The ratings of AIG PC reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management. The positive outlooks reflect AIG PC’s improved underwriting and operating performance in recent years, as most performance metrics are now in line with higher rated peers, which have shown consistency and sustainability in recent years.
AIG PC’s risk-adjusted capitalization remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), benefiting from improving underwriting performance and targeted efforts to lower risk on the balance sheet, while also benefiting from strong reinsurance support from highly rated reinsurers.
AM Best assesses AIG PC’s operating performance as adequate. AIG has pivoted away from several lines of business to focus on underwriting profitability in selected specialty segments. AIG PC’s operating performance has demonstrated steady and consistent improving trends in more recent years, attributable to numerous underwriting and risk management initiatives, as well as continuing positive pricing momentum in most key business lines. AIG PC’s business profile is assessed as favorable, considering its extensive market position in numerous commercial lines, as well as a wide geographic footprint in both domestic and global markets. The group has exhibited deep expertise in its commercial lines writings and utilizes many diverse distribution channels. This more focused business profile has helped to sustain improving underwriting profitability.
The FSR of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) have been affirmed, with the outlooks revised to positive from stable, for the following P/C subsidiaries of AIG, which are collectively referred to as AIG PC:
National Union Fire Insurance Company of Pittsburgh, PA
American Home Assurance Company
Lexington Insurance Company
Commerce and Industry Insurance Company
AIG Property Casualty Company
The Insurance Company of the State of Pennsylvania
New Hampshire Insurance Company
Illinois National Insurance Company
AIG Specialty Insurance Company
AIU Insurance Company
AIG Assurance Company
AIG Insurance Company – Puerto Rico
AIG Insurance Company of Canada
AIG Insurance Hong Kong Limited
Granite State Insurance Company
Tudor Insurance Company
Stratford Insurance Company
Western World Insurance Company
Marbleshore Specialty Insurance Company
Glatfelter Insurance Company
American International Group UK Limited
American International Reinsurance Company, Ltd.
AIG Asia Pacific Insurance Pte. Ltd.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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