Printer Friendly

AMERICAN GENERAL RETIREMENT ANNUITY SUBSIDIARY RATING UPGRADED TO AAA BY STANDARD AND POOR'S

 AMERICAN GENERAL RETIREMENT ANNUITY SUBSIDIARY RATING UPGRADED TO
 AAA BY STANDARD AND POOR'S
 HOUSTON, April 15 /PRNewswire/ -- American General Corporation (NYSE: AGC) today announced that the claims-paying rating of its retirement annuity subsidiary, The Variable Annuity Life Insurance Company (VALIC), has been upgraded to AAA from AA+ by Standard & Poor's.
 In issuing this rating, S&P referred to VALIC's "excellent market position, solid earnings performance, above-average liquidity and strengthened capitalization." S&P also pointed out that "the quality of investments is very high, and the company has a good discipline in asset/liability management."
 In commenting on S&P's action, Harold S. Hook, chairman and chief executive officer, said, "We are pleased that VALIC, along with each of American General's other principal life insurance companies, has been rated AAA by Standard & Poor's for claims-paying ability. These superior ratings validate our strategy of focusing on basic financial products and services, prudent investment and lending practices and building financial strength."
 VALIC is one of the largest providers of retirement plans for teachers and other employees of not-for-profit organizations nationwide. With over $15 billion in assets, VALIC ranks in the top 1 percent of all U.S. life insurers.
 American General, with assets of more the $36 billion and equity of $4.3 billion, is one of the nation's largest consumer financial services organizations. Headquartered in Houston, it is a leading provider of retirement annuities, consumer loans and life insurance. American General Corporation common stock is listed on the New York, Pacific, London and Swiss stock exchanges.
 -0- 4/15/92
 /CONTACT: James S. D'Agostino Jr., senior vice president, administration, 713-831-1224, or Robert D. Mrlick, director, investor relations, 713-831-1137, both of American General Corporation/
 (AGC) CO: American General Corporation; The Variable Annuity Life
 Insurance Company ST: Texas IN: FIN SU: RTG


PS -- NY134 -- 9008 04/15/92 18:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1992
Words:307
Previous Article:WICKES COMPANIES INC. ANNOUNCES ANNUAL MEETING OF STOCKHOLDERS TO BE HELD JULY 14
Next Article:AMERICAN PACIFIC OFFERS 1,750,000 SHARES OF COMMON STOCK AT $30.50 PER SHARE


Related Articles
AMERICAN GENERAL'S LARGEST LIFE INSURANCE AND RETIREMENT ANNUITY COMPANIES RECEIVE HIGHEST RATING BY A.M. BEST
AMERICAN GENERAL CORPORATION SENIOR DEBT RATING REAFFIRMED AT 'AA-' COMMERCIAL PAPER RATING REAFFIRMED AT 'DUFF 1+'
THE VARIABLE ANNUITY LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
AMERICAN GENERAL LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
DUFF & PHELPS: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
AMERICAN GENERAL NAMES BICKEL AND WEST TO OFFICE OF THE CHAIRMAN IN RETIREMENT ANNUITY SUBSIDIARY
KELLEY NAMED SENIOR VICE PRESIDENT AND CHIEF MARKETING OFFICER OF AMERICAN GENERAL LIFE INSURANCE COMPANY
AMERICAN GENERAL LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
DUFF & PHELPS: THE VARIABLE ANNUITY LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
S&P CORRECT: American General Corp. & Rel Ratings Raised.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters