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AIG Issues Statement of Calm to its Agents and Staff
After the massive hits on Wall Street, AIG has issued a statement of calm to its Agents and Staff stating that the varied commercial interests of the group will see it through one of the biggest crises to hit the global market.
MESSAGE TO AIG LIFE INSURANCE CONSULTANTS AND STAFF
The developments in the financial markets during the past few days have been truly extraordinary.
Although AIG faces short-term liquidity pressures, we have strong, well-positioned businesses in diverse markets around the world and a deep asset base. We can assure our customers of AIG's commitment to meeting their needs and keeping their business. The insurance policies written by AIG companies are direct obligations of our regulated insurance companies around the world. These companies are well-capitalised and are subject to stringent regulatory and capital requirements. These companies continue to operate in the normal course to meet our obligations to our policyholders.
This was issued in response to the many news articles from around the world which state that the company is under great pressure following one of the biggest drops on Wall Street. The Independent
out of London suggests that the company may have to dip into its reserves of 20 billion US dollars.
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