A.M. Best has affirmed the issuer credit rating (ICR) of “bbb” of American International Group, Inc. (AIG) (New York, NY) [NYSE:AIG]. Concurrently, A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the ICRs of “a” of AIG’s U.S. property/casualty subsidiaries (collectively referred to as the AIG PC U.S. Insurance Group [AIG PC US]), headquartered in New York, NY. At the same time, A.M. Best has affirmed the FSR of A (Excellent) and the ICR of “a” of American International Reinsurance Company Ltd. (AIRCO), a Bermuda-domiciled reinsurer. The outlook for the above ratings is stable. (See below for a detailed listing of the companies and ratings.) The ratings for the members of AIG PC US reflect its supportive level of risk-adjusted capitalization, generally solid operating earnings and its leadership position in the global commercial lines insurance market. Offsetting rating factors include recent underwriting results, which remain well below the group’s historical levels, A.M. Best’s expectation of continued adverse development of prior years’ loss reserves and the group’s exposure to natural and man-made catastrophe losses. The stable outlook reflects AIG’s position in the U.S. commercial market; its ability to lead, attract and retain clients by leveraging its significant global capacity, extensive product offerings and innovation; as well as its greater emphasis on technical pricing and predictive modeling. The group continues to generate positive operating returns despite challenges in restoring underwriting profitability. While reserve development remains a concern, the stable outlook suggests that any future reserve development will be within a level acceptable to A.M. Best. A.M. Best also expects that the group will continue to maintain a supportive level of risk-adjusted capitalization through favorable net earnings while providing shareholder dividends to its parent in accordance with historical norms. AIG PC US’ risk-adjusted capitalization declined in 2013, primarily as a result of sizeable dividend payments to AIG. However, the resulting level of risk-adjusted capitalization continues to be supportive of the ratings.