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March 09, 2005 at 07:00 PM
AIG Life And Annuity Units
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Most analysts and producers agreed on the strength and resilience of AIGs mammoth life and annuity units in interviews conducted shortly after AIG said Maurice Greenberg had been replaced as CEO.
Some other analysts, however, say they are nervous about what other surprises might surface.
Moodys Investors Service, New York, notes in its comment on the news, for example, that it made its decision to change the outlook on its AAA rating for AIG to negative, from stable, “based on information disclosed by AIG thus far.”
But Andrew Kligerman, an analyst at UBS Investment Research, New York, a firm that has done business with AIG, scoffs at the idea that AIG might break up or go through any other changes that would have a noticeable, long-term effect on the life and annuity units. “The company has performed exceedingly well,” Kligerman says.
In the short term, “there may be some noise,” says Julie Burke, a managing director at Fitch Ratings, Chicago, a firm that has lowered its long-term rating on AIG to AA-plus, from AA. “But were not really expecting any long-term changes.”
