The financial problems that threatened to sink the American International Group conglomerate, forcing the federal government to bail out the company with a bridge loan, were not the fault of insurance commissioners, as locally-regulated subsidiaries remain solvent and sound, state officials reiterated last week.

Their comments to that effect were delivered throughout the quarterly meeting here of the National Association of Insurance Commissioners, a week after the federal government stepped in with $85 billion of liquidity to keep the AIG holding company in business.

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