Company Contact info
180 Maiden Lane New York, NY 10038
American International Group, Inc.
AIG Company History
AIG is the large insurance group that includes the best underwriters of commercial and business insurance, property/casualty field, auto insurance and mortgage operations. The headquarters of the group is situated in New York City and operates internationally – this is the world leader in insurance operations all over the world in more than 130 countries through numerous US and international subsidiaries. The general number of employees in AIG is more than 92,000. The key of such success is in innovative solutions, financial stability and great underwriting skills. As long as AIG gives their clients a possibility to address best experts and legal firms, customers are sure they get the best service and assistance.
The companies of AIG group work with commercial and individual customers providing Property/Casualty insurance, life insurance and all types of financial services including retirement and assets management. Basically, all services of AIG may be divided into 4 sections – General Insurance (all types of property/casualty lines and mortgage business), Life and Retirement (life insurance and all types of annuities), Financial (all types of financial services – consumer, insurance premium and others), Asset Management (all types of funds management). The half of all operations of AIG group in 2004 was foreign operations, and among types of insurance Life and Retirement was accounted around 50% as well.
In terms of General Insurance provided by AIG there are a lot of lines that are written by both US and international groups, but the biggest part of net premiums are those for workers’ compensation business, especially in NY and CA. Another operation – Domestic Brokers Group as a part of General Insurance segment is popular in US and Canada providing insurance through brokers specializing in business, risk and environmental products. Auto insurance is distributed through AIG Direct, Agency Auto Division and 21st Century Insurance ( 61.9% of which is owned by AIG) and offers insurance to individuals through AIG Private Client Group.
Life Insurance and Retirement Services include life insurance policies for individuals and groups, annuities, health and accidents policies, retirement savings products both at home and abroad. The latter is possible thanks to more than 250,000 agents, direct distribution channels, brokers and financial institutions. The same with domestic part of AIG Life insurance business – due to network of distribution channels in 2006 the premiums were 78% foreign operations and 22% from domestic ones.
Financial Services Operations of AIG provide products for aircraft and equipment with various types of financing. Assets Management operations will come in handy for investments, banking and mutual funds.
AIG Principle Sales Methods
AIG sells insurance through the official website as well as through its agency company – 21st Century Insurance. The main segments of business have their own distribution lines and brokerage system.