From time to time, a company must endure turmoil to demonstrate both its shareholders and its particular consumers it has the resolve plus the perseverance to stand the test of of your time. American General Life Insurance provider did just that, mainly because it it required more than its resources to survive; nevertheless, it thrives once again. This American General Life Insurance Company review is our own opinion of why we think they’re among the best life insurance companies in America today.
Our American General Life Insurance Company Review
Almost 100 years old now, American General Life insurance coverage Company (also known since AIG) went into business in 1919 while using former name American Asiatic Underwriters. But it really was founded in Cina, not the United Expresses, where it wouldn’t become formed until nearly a decade later. While it didn’t begin its original state to be a life insurer, it added the arm just two years after it was started out.
AIG grew both nationally and internationally, with business operations in the usa, Asia and Europe. By 1984, AIG made the proceed to list shares of its company for the NYSE, where it has long been sold under the ticker of, well, you guessed that, AIG.
While the turn with the new millennium saw great growth for American General, it wasn’t flawless as there were a great dispute while using SEC which cost AIG one as well as a quarter million dollars in addition to regulatory maintenance. Things received worse in ’05 when an accounting scandal produced headliners, costing AIG $1. 6B with fines.
In 2008, AIG found itself in yet another bind as the collateralized debt obligations they against their securities abruptly sparked a decline with value. This meant AIG has been forced to collateralize those securities with a lot more assets, of which it had been running out. AIG believed into default, and the United State had to step in to aid. This aid could run the reserve a tab of $85 million.
Over the span of more than five years, AIG would recover its losses and pay back its loans to this Federal Reserve, but certainly not without hardship, restructuring as well as a re-branding, and even selling off different divisions of its business.
American General Currently
Today, American General Life Insurance provider stands strong at giant insurers, with strong financial ratings from all four major ratings institutions, such as Standard & Poor’s, Any. M. Best, Fitch and also Moody’s. With an “A” or maybe better rating from most, this means the recent stability and solvency of AIG is highly rated, and the future is usually optimistic.
American General offers several unique variations of life insurance products that are durable and competitive out there place. It offers term life products for middle American and small business owners, it offers universal life insurance which is more long term and offering flexibility to those that need it, and it even posseses an indexed universal life insurance product which can mirror cash growth inside the policy to the S&P500.
While using the fortitude and trust this carrier has gained around decades, it still remains among the finest life insurance companies in the usa. It employs a substantial standard of ethics and aims to meet up with the needs of the consumers through innovation and also leadership.
|Company Name (and Subsidiaries)||American International Group, Inc.
American General Life Insurance Company
The United State Life Insurance Company in the City of New York
AIG Property Casualty
AIG Life and Retirement
|Company Ratings||A.M. Best (A)
Moody’s Investors Services (A2)
Standard & Poor’s (A+)
|Headquarters (Address, Phone, Web)||175 Water Street
New York, NY 10038
Phone: (212) 770-7000
|Policy Types Available||Term