(Bloomberg) ? American International Group Inc., the insurer that agreed to pay $1.64 billion in February to settle probes into its accounting and sales practices, is no longer under review for downgrades by Fitch Ratings.

AIG?s AA credit rating and the AA+ financial-strength rating of its insurance subsidiaries were affirmed, Fitch said in a statement yesterday. Fitch also removed New York-based AIG from ?rating watch negative?.

Fitch had put the world?s largest insurer under review in March 2005 after state and federal regulators started their investigations. Fitch?s statement noted that AIG had since restated its earnings twice and added $1.19 billion after-tax to its reserves in the fourth quarter of 2005. ?The majority of the uncertainties surrounding AIG over the last 12-to-14 months have been resolved,? said the statement from Fitch, based in New York and London. ?The company?s financial profile and competitive positioning remain supportive of its current ratings.?

Shares of AIG fell 80 cents to $63.39 in New York Stock Exchange composite trading. The stock has risen 22 percent in the past year compared with a 16 percent gain in the KBW Insurance Index.

?AIG hired Philip Jacobs of GE Insurance Solutions to replace Peter Lathrop as director of taxes. Jacobs, 45, will start in July and report to chief cinancial officer Steven Bensinger, New York-based AIG said in a statement yesterday. He is currently global tax director for the General Electric Co. unit and spent ten years at Ernst & Young LLP, AIG said. Lathrop, 63, is retiring.