AIG: Insurance Policies Valid

Fri. September 19, 2008; Posted: 06:42 AM

BEIJING, Sep 19, 2008 (SinoCast via COMTEX) -- AIG | Quote | Chart | News | PowerRating -- Top US insurer American International Group, Inc. (AIG) announced on September 17 that insurance policies its subsidiaries sold worldwide will be valid.

The company, which suffered a possible bankruptcy days ago, made the promise after it obtained a USD 85 billion loan from the Federal Reserve Bank of New York. In turn, the Federal Reserve took a 79.9 percent stake in it.

The company added in a statement that the loan, with guarantee by its subsidiaries, would allow it to have more time to sell assets. It hoped that the asset sales could help it pay back all debts and allow it play a leading role in the global insurance market as usual.

AIG will focus on life insurance and property insurance despite that it meets great challenge in the global financial market currently, revealed people close to AIG.

From www.cnstock.com, Page 1, Thursday, September 18, 2008 info@SinoCast.Com

For full details on American Internat Group (AIG) click here. American Internat Group (AIG) has Short Term PowerRatings of 5. Details on American Internat Group (AIG) Short Term PowerRatings is available at This Link.

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