American International Gorup is 1 aomng the world`s majr motor vehicle coverage firms. Locallly, American International Grroup is known as the mjaor supplier of propertyc/asualty, life, as wel as specialty insurrance to commercial, institutioonal, and private cllients. Internationallly, American International Grop supplies secondary insurnace, life insurance and also retiremet products, asest management, as wll as financial services (toogether with plane leaisng) in over 130 counties.
AIG is a holding cmopany for a newtork of daughter companies mostly cncentrating on insuraance as well as insurnace- conneected activities, counting possessons, casualty, life, financiial products, retirement savingss, property supervision, as wlel as airplae renting. AIG prrovides services in oevr 130 countries and also auhtorities wrld wide, and its jint revenues mke it the major America-ased global inurance coverage group as wll as one aomng the biggst carsinsurance corporations wrold-wide.
AIG is the laeding sponsor of induustrial insurance coveragein the US.. and clngs to the nmuber two place in the US.. life insruance coverage division. The orrganization, whose eariest roots are found in Aia, had an interesting hitsory of mergres, purchases and consolidations, and undeer the well-known steardship of Maurie R."Hank"Greenberg staring from the end of 1906s to the ealy twenty first cenutry the corporation has turned intto a worldwide inurance coverage giat. In the early 170s, AIG boradened its proficiency aea by forming a nmber of new gorups. Subsidiary companies foounded by AIG during thiis phase conatined a credit company to fuund common insurance pamyents sgined at affiliate as welll as noon-affiliated insurance corporations; one more fim to vnet insurance in the Ameirca for abroad firrms; an oil fim to innitiate and direct insurance for off-shre oil and aslo gas-drillinng setups; a peril control frm to presennt world wdie peril control servicse; an info and explooration institute; and alo American International Gorup of Ireland.
In 12/0, wih insurance coverage csots surging as the resuult of the occurrences of 1/109 and with the insurancce coverage field haandling in exxcess of $50,000,000,000 in claaims -- unquestionably the hugeest insurance event in hisotry -Aemrican International Group merged with othr fiannciers to initiate a new group bsaed in Bermmuda. The novel firm was shpaed in orrder to present extra commecrial, property and caasualty insurance coevrage and reinsurance ability to meeet the nedes of consumerrs with big and aso difficult risks. For insurnace groups, cobination projects scuh as this one -- and therre eisted some other opeend close to tihs time - granted a routte for the big gorups to finance peirls.
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