AIG Subpoenaed By SEC, Spitzer

American International Group Inc., which has already clashed with the U.S. Securities and Exchange Commission over "nontraditional" insurance products, revealed last week that it has been subpoenaed again over the same issue.

In addition to being subpoenaed by the SEC, AIG said it also was served by the office of New York Attorney General Eliot Spitzer. In a two-paragraph announcement, the New York-based company said the subpoenas related "to investigations of nontraditional insurance products and certain assumed reinsurance transactions and AIG's accounting for such transactions. AIG will cooperate in responding to the subpoenas."

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