While not yet completely out of the woods, rays of light have begun to peek through the trees in regard to American International Group Inc.'s financial state.
The Government Accountability Office (GAO) yesterday reported that the troubled insurer had begun to stabilize. The government watchdog said AIG has shown signs of improvement since its property/casualty and life and retirement-services units have maintained capital levels above the minimum requirements. The GAO also said the insurer has made strides in winding down the financial-products division, where bets nearly toppled the company, the Wall Street Journal reports.
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