Business Wire

November 12, 2012

American International Group, Inc. (NYSE: AIG) today announced that AIG is again the go-to-market brand of its global property casualty business in most locations, and that the company’s life and retirement segment is now AIG Life and Retirement.

As part of the rebrand, AIG has also introduced a new brand promise: Bring on tomorrow.

“AIG as a global insurance brand is back,” said AIG President and Chief Executive Officer Robert H. Benmosche. “The re-launch of the AIG name marks a significant achievement for our company. ‘Bring on tomorrow’ underscores AIG’s tremendous tenacity and ambition – to solve problems, to innovate for the benefit of our clients, and to act as a powerful, global team. These are the attributes that have enabled AIG to succeed in making America whole on its
investment in our company, plus a positive return of more than $15 billion.

“Now we look to tomorrow, and we’re excited about the potential we see there. We’re excited to get to work on seeing, building, and securing a better future – for our customers, for ourselves, and for communities around the world. I believe that the spirit of inventiveness and adaptability at the core of AIG will bring opportunities and open doors that will redefine what’s possible, helping our customers thrive and make the most of every day.”

Starting today, AIG’s global property casualty franchise will begin to use the AIG name, and deploy the company’s new logo and brand promise in marketing and advertising as appropriate. Other brands in the AIG family, including VALIC, Lexington Insurance, American General, SunAmerica, and Western National, will continue unchanged.

AIG Property Casualty Chief Executive Officer Peter Hancock said, “We are very excited to celebrate the long history and strength of the AIG name with our customers around the world. With our investment in the latest data technology, combined with our spirit of inventiveness, we think we’re well positioned to help them meet the challenges of tomorrow.”

“The AIG name represents strong values, hard work, and keeping our promises. AIG Life and Retirement continues to embody those values,” said AIG Life and Retirement President and Chief Executive Officer Jay Wintrob. “Our promise to ‘Bring on tomorrow’ fits well with our role as a premier provider of protection, investment, and income solutions that prepare our customers for a successful future.”

The total authorized U.S. government assistance to AIG of $182 billion has been fully repaid, and the Federal Reserve and United States Department of the Treasury have to date received a combined positive return of approximately $15.9 billion on their investments in the company.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 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.

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 jurisdictions, 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.

As we mentioned in a blog back in June, Chatis is reverting back to the AIG name for its Property & Casualty line. As AIG continues to make a strong comeback, especially in the workers comp market, brokers can be be happy that they will continue to have a place to place their hard-to-write accounts.

Speaking of renewals, brokers should keep in mind that the quickest and easiest way to provide a better underwriting profile for your clients and prospects is through workers compensation premium recovery. Through this service, you will lower your clients' and prospects' experience mods, help them receive refunds, and generate a new revenue stream for your brokerage.