NEW YORK--(BUSINESS WIRE)--Jan. 19, 2016--
American International Group, Inc. (NYSE:AIG) today announced that it
has significantly raised available global commercial property limits to
$2.5 billion per occurrence.
The move responds to the growing demand for capacity and services by
clients managing more complex global risks and increasing property
values. It also reflects AIG’s greater appetite for property risk based
on its ongoing expansion of risk engineering and data analytics
capabilities.
Today’s announced limits build on AIG’s capacity of $1.5 billion per
occurrence available globally to clients since 2012.
Over the last four years, AIG has continued to invest in the build out
of its risk engineering capabilities, hiring more than 500 engineers to
provide clients with risk mitigation services. Most recently, AIG made a
strategic investment with Clemson University to establish a risk
engineering and systems analytics center to deepen the skills sets and
capabilities of its risk engineers and to enhance its efforts to
transform data analytics into actionable insight for the company and its
clients.
At the same time, AIG has found that more companies, particularly those
operating as multinationals, are looking to partner with insurers that
have the capabilities and coverage limits to help protect them against
the broad spectrum of risks they face worldwide.
“Clients are realizing the benefits of AIG’s continued investments to
bolster our engineering and analytics capabilities,” said George
Stratts, Global Head of Property. “We are committed to providing the
capacity our clients need and to using a data-driven approach to help
them manage the complexity of their global risks. We want to be a
strategic partner for our clients to help them improve their businesses
and lower their cost of risk.”
American International Group, Inc. (AIG) is a leading global insurance
organization serving customers in more than 100 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160119006054/en/
Source: American International Group, Inc.
American International Group, Inc.
Media:
Matt Gallagher,
212-458-3247
matthew.gallagher2@aig.com
or
Investors:
Liz
Werner, 212-770-7074
elizabeth.werner@aig.com