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Fitch Ratings has assigned an “AA+” insurer financial strength (IFS) rating to ÌìÃÀÍøÕ¾´«Ã½´«Ã½ MEMSA Insurance Company with a stable outlook.

“Fitch’s rating reflects explicit support in the form of an unconditional and irrevocable insurance obligation guarantee between ÌìÃÀÍøÕ¾´«Ã½´«Ã½ MEMSA and American International Underwriters Overseas, Ltd. (AIUO),” said the announcement. “AIUO is a wholly owned subsidiary of American International Group, Inc. (ÌìÃÀÍøÕ¾´«Ã½´«Ã½). Fitch considers AIUO to be a key component of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s international general insurance platform. Fitch’s rates AIUO’s, as well as numerous other ÌìÃÀÍøÕ¾´«Ã½´«Ã½ insurance subsidiaries’ insurance financial strength ‘AA+’.”

Fitch indicated the rating “on ÌìÃÀÍøÕ¾´«Ã½´«Ã½ MEMSA also reflects implicit support derived from ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s long history of successfully conducting operations on a world-wide basis, excellent worldwide brands, and strong operating results.

“ÌìÃÀÍøÕ¾´«Ã½´«Ã½ MEMSA is a recently formed wholly owned subsidiary of AIUO domiciled in the Dubai International Financial Center, United Arab Emirates.”

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