I read a Bloomberg report that AIG shares dropped by 30 percent since the change of CEO from Hank Greenberg.
The recent drop was due to the losses on credit default swaps issued by AIG. This protects the buyer from credit defaults, e.g. due to subprime mortgages.
AIG is the parent company of AIA in Singapore. It has a AA credit rating (previously AAA), but analysts expect the rating to be further downgraded.
More details:
http://www.bloomberg.com/apps/news?pid=20601087&sid=axfNBsHVBagY&refer=home
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