2008-09-19 21:17:03 -

www.ambest.com - The impact of American International Group Inc.'s (AIG) financial meltdown will be felt across the property/casualty industry as market share and even ownership of key companies change, according to a story in BestWeek U.S./Canada.

The insurance giant, battered by credit losses driven by the subprime-crisis, was given an $85 billion federal loan to keep it solvent while

it stabilizes its balance sheets, selling off assets to balance its books and repay the loan (BestWire, September 17, 2008). The looming sale means that AIG's competitors may have the opportunity to acquire prime insurance turf. At the same time, jittery policyholders may help competitors increase market share.

Read this and more extensive AIG coverage in both BestWeek U.S./Canada and BestWeek Europe.

Also, in BestWeek Europe:

China Life Insurance Co. Ltd., the leading life insurer in China, aims to enhance its competitiveness in first- and second-tier cities in China as well as consolidate its first-mover advantage in rural areas.

Also, in BestWeek U.S./Canada:

Berkshire and Travelers swap rankings in the latest A.M. Best top 25 U.S. property/casualty groups financial results statistical study.

And in both editions of BestWeek:

As of the close of the U.S. market on Thursday, September 18, the AMBG stood at 952.40, a one-week decrease of 5.84%.

BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, please call A.M. Best's customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Caroline Saucer, 908-439-2200, ext. 5774
caroline.saucer@ambest.com