Date: September 16, 2008
For more information contact: Jim Guidry, (608) 264-6239 or jim.guidry@wisconsin.gov

Statement for Wisconsin Insurance
Consumers Regarding AIG

Madison, WI—Wisconsin Insurance Commissioner, Sean Dilweg today issued the following statement regarding the AIG Group.

"The AIG Group includes a parent business holding company and multiple subsidiaries, several of which are insurance companies. The financial issues affecting AIG are primarily related to AIG's holding company. The holding company is a separate, legal entity, distinct from the insurance companies.

"Insurance regulations require the AIG subsidiary insurance companies to comply with separate financial condition standards that protect the interests of policyholders. State insurance regulators work together to monitor these financial capitalization requirements and to protect the interests of policyholders, regardless of financial issues affecting the holding company or non-insurer affiliates. Wisconsin's insurance department continues to work with fellow insurance regulators to assure that financial issues affecting the AIG holding company and non-insurer AIG affiliates do not affect the AIG subsidiary insurance companies' solvency or ability to meet their obligations to their policyholders."

Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.