Business as usual in NZ: Pierce

While American International Group’s Standard and Poor’s rating has been put on CreditWatch with negative implications the rating of the New Zealand business remains unchanged.

Tuesday, September 16th 2008, 6:34AM

New Zealand chief executive David Pierce says, in a note to advisers, that “AIG Life's Standard and Poor's rating in New Zealand is unchanged at AA+, one of the highest of any insurer in the country.

“This combined with AIG Life's recent growth and profitability makes it business as usual for us in New Zealand.

“Should this situation change, AIG Life remains committed to providing prompt and open communications to the New Zealand market.”

Pierce says AIG is committed to maintaining the strength necessary to meet its customers' needs.

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Business as usual in NZ: Pierce

While American International Group’s Standard and Poor’s rating has been put on CreditWatch with negative implications the rating of the New Zealand business remains unchanged.

Tuesday, September 16th 2008, 6:34AM

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