AIG remains formidable, despite troubles.

The article focuses on the performance of American International Group Inc.'s (AIG) despite of its accounting problems. AIG's shares closed $50.95, down 28.7% from $71.49 on February 14, the day the insurer announced it had received subpoenas from New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission (SEC) relating to, among other things, AIG's accounting for certain reinsurance transactions. In addition, New York-based Moody's Investors Service lowered AIG's long-term senior debt rating, as well as the debt and insurance financial strength ratings of AIG units, including its domestic brokerage group, to Aa1 from Aaa. Meanwhile, a person familiar with the matter said the SEC has subpoenaed New York-based PricewaterhouseCoopers LLP, AIG's auditor, seeking documents relating to a $500 million retrocessional loss portfolio contract assumed by AIG from General Reinsurance Corp.