Are things starting to look up? As corporate giant AIG continues to get back on it’s feet, it’s latest plan to consolidate its insurance arm under a separate international subsidiary has been met with a general consensus of approval.

American International Group Inc.’s decision last week to spin off its property/casualty operations into a separate holding company was welcomed by several risk managers, as part of a major restructuring effort, AIG said last week it would create AIU Holdings Inc. “Pulling the insurance out of AIG parent and (putting it) under one, worldwide insurance company banner is one of the smartest things that could be done,” said Lance J. Ewing, VP-risk management at Harrah’s Entertainment Inc. in Memphis, Tenn., who is also a member of AIG’s client advisory board.

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While AIG is still far from being considered out of the woods just yet, this new measure might just help the corporate giant get back on it’s feet, albeit a little slowly. But with many still pinning their hopes on the company, slow and steady is much better than to get too hasty only to crash and burn in the end. They should know better now than to do that.