There is no evidence American International Group is engaged in predatory pricing of its property-casualty business, the U.S. Government Accountability Office and Pennsylvania's insurance commissioner told Congress last week.
Meanwhile, GAO expressed skepticism that AIG will ever be able to fully repay its massive government bailout loans.
The testimony came in response to a request from members of Congress to probe whether buzz about AIG's market conduct was true. Some competitors have charged that AIG is deliberately and perhaps even recklessly underpricing its commercial policies to retain clients, after the hit to its parent company's reputation caused by its near collapse and federal bailout.
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