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SSA Statement Concerning AIG Insurance

The American International Group, Inc. (AIG) has been mentioned in recent press reports amid allegations and recent top management shake ups. As a result, there has been concern expressed regarding the SSA group insurance program and its relationship with the carrier, AIG Aviation. AM Best Co, probably the most authoritative insurance rating agency, continues to rate AIG as A++ (the highest rating), although to this rating has been added a "u" as it is under review because of these issues. The SSA leadership is watching developments with keen interest, however, it has no information regarding the foregoing other than what is available to the public at large.

In these circumstances, and in particular because of AM Best Co's rating remaining unchanged, the SSA is taking a wait and see approach so far as any appropriate action is concerned.

Posted: 4/1/2005 By: General News

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