‘AIC Inc. declared $5.36bn worth of losses in the second quarter of 2008, even though the group’s assets exceeded one trillion U.S. dollars over the same period of time. At the moment, the new CEO and BOD Chairman Robert Willumstad is working on the detailed analysis of the group and its business divisions’ performance in order to minimize risks, reduce the pressure exerted on the company’s capital, and reduce outgoings. The findings will be reported to the shareholders and published in the media in the nearest future,’ President of AIG Life Insurance Company Alexander Zaretskiy explained to the company’s employees, agents, managers, and partners.

Alexander Zaretskiy feels the U.S. stock market crisis does not affect the company’s financial success, while the Russian market’s troubles actually do.