Compass Point analyst Bijan Moazami has evaluated five of the most problematic lines of business at AIG, namely other liabilities claims-made, other liabilities occurrence, workers' compensation, commercial multi-peril and commercial auto liability. These lines represent roughly half of AIG's U.S. domestic business, and the bulk of its reserves, he notes, adding that the $6.6B of premiums AIG earned from these lines last year, is only a fraction of the $14B it wrote in 2009. Meanwhile, the company took $12.9B in reserve charges, over the past decade, to deal with deficiencies, Moazami adds. Overall, the analyst points out that his data indicates that re-underwriting in the past couple years has turned-around loss trends, with frequency and severity of losses down sharply, and AIG now appears "too conservative" on its newer accident-years loss assumptions. He rates AIG as his top pick in the P/C segment, and reiterates a Buy rating and $66 price target on the shares.