Standard & Poor's (S&P) has placed its 'AAA' long-term counterparty credit rating on AIG on creditwatch with negative implications.
S&P also said that it placed its 'AAA' long-term counterparty credit and financial strength ratings on AIG's wholly owned operating companies on creditwatch negative.
"These rating actions follow the announcement that AIG's long-standing CEO, Maurice Greenberg, has stepped down, and that the CFO, Howard Smith, has taken leave," said S&P credit analyst Grace Osborne.
The ratings agency said there was some “uncertainty” over the financial implications of Greenberg's retirement.
There was also some uncertainty over whether the public and private financial information upon which the ratings are based would be altered in the short term, it said.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
