AIG – What Happened?

The insurance industry was rocked by the government bailout of AIG last week, to date the leading specialty lines insurer in the world. According to the U.S. Surplus Lines – Market Review by A.M. Best Research for 2008 (sponsored by NAPSLO, see here & here), AIG wrote 22.2% of surplus lines business segment in 2007. It appears the problems leading to the government action are not contained in AIG’s insurance company subsidiaries. The NAIC issued the following statement (see here):…

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