Fitch Assigns 'AA+' IFS Rating to AIG MEMSA Insurance Company.CHICAGO -- Fitch Ratings has assigned an 'AA+' insurer financial strength (IFS) rating to AIG MEMSA Insurance Company (AIG MEMSA). The Rating Outlook is Stable. Fitch's rating reflects explicit support in the form of an unconditional and irrevocable insurance obligation guarantee between AIG MEMSA and American International Underwriters Overseas, Ltd. (AIUO). AIUO is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG). Fitch considers AIUO to be a key component of AIG's international general insurance platform. Fitch's rates AIUO's, as well as numerous other AIG insurance subsidiaries' insurance financial strength 'AA+'. Fitch's rating on AIG MEMSA also reflects implicit support derived from AIG's long history of successfully conducting operations on a world-wide basis, excellent worldwide brands, and strong operating results. AIG MEMSA is a recently formed wholly owned subsidiary of AIUO domiciled in the Dubai International Financial Center, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. . Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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