AIG vs. North American Company

Updated January 22, 2024

AIG (American International Group) and North American Company are insurance companies with different histories, areas of focus, and business models.

AIG is a multinational insurance corporation providing a wide range of insurance products to customers in over 80 countries. Its history dates back to 1919, and it has faced significant challenges in recent years, including a government bailout during the 2008 financial crisis. However, AIG has since recovered and is now one of the world’s largest insurance companies, focusing on property and casualty insurance, life insurance, retirement products, and other financial services.

North American Company, on the other hand, is a smaller insurance company that focuses primarily on life insurance and annuities. The company was founded in 1886 and is based in Chicago, Illinois. North American Company offers a range of life insurance products, including term life insurance, universal life insurance, and indexed universal life insurance. The company also provides fixed annuities and indexed annuities.

Regarding financial strength, both companies have solid ratings from credit agencies. AIG has an A rating from Standard & Poor’s and an A2 rating from Moody’s, while North American Company has an A+ rating from A.M. Best.

Ultimately, the choice between AIG and North American Company will depend on your insurance needs and preferences. AIG may be the better choice if you are looking for a broader range of insurance products and a larger, more established company. However, North American Company may be a better fit if you are primarily interested in life insurance and annuities and prefer to work with a smaller, more specialized company.


Comparing ⟶	North American Company	American General (AIG)
Year Founded	1886	1919
Company Structure	Private	Stock
Pricing	$ $ $	$ $ $
Types of Policies:
Term Life	✗	✓
Whole Life	✓	✓
Universal Life	✗	✓
Final Expense	✓	✓
Ratings:
A.M. Best Rating	A+	A
S&P Rating	A+	A+
Moody’s Rating	✗	A2
Fitch Rating	A+	A+
Comdex Rating	89	82
BBB Rating	A+	B-
NAIC complaint Index	0.16	0.51
IBUSA’s Overall Score
Company Review		AIG – American General’s review