American Intl Group

American International Group, Inc. (AIG) is one of the world leaders in insurance and financial services. AIG was founded in 1919 by Cornelius Vander Starr in Shanghai, China.

In 1962, management of the company's U.S. holdings was given to Maurice R. "Hank" Greenberg.

Greenberg shifted the U.S. focus from personal insurance to corporate coverage. He also focused on independent brokers, rather than agents, for selling insurance. Starr named Greenberg his successor in 1968.

AIG went public in 1969. Greenberg resigned as the company's CEO in February 2005. AIG president and chief executive Martin J. Sullivan announced on 6 April, 2006 that AIG is the new shirt sponsors of English soccer team Manchester United, in a British record shirt sponsorship deal of over 4 years.


The mission of AIG is to focus on their business model of an underwriting profit. The company keeps in to mind:

• Environmental initiatives
• Community initiatives
• Human Resources initiatives
• Disaster Relief
• Investments initiatives
• Facilities initiatives
• Corporate Governance initiatives
• Legal initiatives

The company is committed to display good corporate citizenship.

The four principle businesses of AIG are:

• General Insurance
• Life Insurance and Retirement Services
• Financial Services
• Asset Management

For the individual consumer, businesses, financial professional and insurance professional, AIG provides:

• Accident and Health insurance
• Auto insurance
• Life insurance
• Banking and loans
• Retirement Services
• Travel insurance
• Additional services
• Annuity
• Claims
• Fidelity
• High Net Worth individuals products
• Homeowners insurance
• Investments and Financial services
• Personal Line
• Environmental Coverages
• Management Liability
• Primary Casualty
• Professional Liability
• Worker’s Compensation
• Aviation
• Business Property Coverages
• Construction Specialty Insurance
• Crisis Management
• Employee Benefits
• Energy
• Excess Casualty
• Fidelity
• Financial Lines
• Healthcare
• Marine
• Mergers and Acquisitions
• Political Risk
• Property
• Property and Casualty
• Reinsurance
• Risk Finance Solutions
• Risk Management Services
• Surety
• Terrorism and Crisis Management Coverages
• Trade Credit
• Mutual Funds
• International Insurance
• Loss prevention and Consultancy
• Sports risk solutions

Key Statistics:

• AIG holds assets of $853,370 millions.
• AIG has made profits of $10,477 millions in 2006.
• AIG operates in more than 130 countries and jurisdictions.
• American Intl Group has about 97,000 employees.

Organization

The organizational structure consists of:

• Board of Directors
• Board Committees—
  1. Audit Committee
  2. Nominating and Corporate Governance Committee
  3. Compensation Committee
  4. Finance Committee
  5. Public Policy and Social Responsibility Committee
  6. Regulatory, Compliance and Legal Committee

International Ranking

• American Intl Group ranks 4th in the world according to the Forbes Magazine.
• AIG ranks 20 in the world in Fortune Global 500 list.

Subsidiaries

American Intl Group has many subsidiary units, each concerned with a particular business segment. The subsidiary groups under AIG General Insurance are:

• Domestic Brokerage Group—
  1. National Union Fire Insurance Company of Pittsburgh
  2. American Home Assurance Company
  3. Lexington Insurance Company
  4. AIG Environmental
  5. AIG Risk Management, Inc.
  6. AIG Worldsource
  7. AIG Consultants, Inc
  8. HSB Group, Inc.
• Domestic Personal Lines—
  1. AIG Direct
  2. Agency Auto Division
  3. 21st Century Insurance Group
  4. AIG Private Client Group
• United Guaranty Corporation
• Transatlantic Holdings, Inc.
• Foreign General Insurance Group with marketing group American International Underwriters (AIU).

The subsidiary units under Life Insurance and Retirement Services are:

• Foreign Life Insurance and Retirement Services—
  1. American International Assurance Company, Ltd.
  2. American Life Insurance Company (ALICO)
  3. AIG Star Life Insurance Co., Ltd.
  4. AIG Edison Life Insurance Company
  5. Nan Shan Life Insurance Company, Ltd.
  6. The Philippine American Life and General Insurance Company
• Domestic Life Insurance & Retirement Services—
  1. AIG American General
  2. AIG Annuity Insurance Company
  3. AIG VALIC
  4. AIG SunAmerica Retirement Markets, Inc.

The subsidiary units involved in financial services are:

• International Lease Finance Corporation (ILFC)
• AIG Financial Products Corp.
• American General Finance, Inc.
• AIG Consumer Finance Group, Inc.
• Imperial A.I. Credit

The subsidiaries involved in asset management are:

• AIG Global Investment Group (AIGGIG)
• AIG SunAmerica Asset Management Corp.
• AIG Advisor Group, Inc.
• AIG Private Bank Ltd.

Headquarter Address

70 Pine St.
New York, NY 10270
USA
Phone: 212-770-7000