AIG paid business into a new company – Chartis

American International Group, Inc. (AIG) announced that it had established a special purpose company, which intends to vlee companies AIU Holdings (AIU Holdings Inc and AIU Holdings LLC) upon receipt of necessary approvals from regulatory authorities.
As announced in April this year, a special purpose company will consist of different operations obshtozastrahovatelni AIU Holdings, namely Commercial Insurance (obshtozastrahovatelnite operations in the U.S. and Canada), Foreign General Insurance (obshtozastrahovatelnite operations outside the U.S. and Canada) and Private Client Group (operations serving large private clients).
President and CEO of the company will be Christian Moore and the new corporate name – Chartis (Chartis).
These steps accelerated unification obshtozastrahovatelnite operations worldwide and close to the organization’s ultimate goal of full legal and operational autonomy.
Chartis, with headquarters office in New York, covers obshtozastrahovatelnite operations of AIG Inc. and offers a unique global presence through one of the most comprehensive platform for corporate and individual insurance solutions. Chartis has own funds of about 32.1 billion U.S. dollars at the end of 2008 and serves more than 40 million customers in over 160 countries and jurisdictions.
This new stage in our development will fully disclose the true value of one of the largest and most successful insurance organizations in the world, commented Christian Moore. Before you assume the leadership of Chartis, he was Executive Vice President of AIG president and CEO of AIG Property Casualty Group, which includes responsibility for all obshtozastrahovatelni operations in the U.S. and Canada. Moore joined the National Union, a company of AIG, in 1981
Chartis comes from the Greek word for map and highlights the 90-year history of success as a pioneer company in insurance in the world, able to give customers specific solutions for them. Chartis and its new logo – a compass – symbolize disciplined, but at the same time flexible approach to insurance successfully „navigate“ in changing markets and complex risks worldwide.
With today’s start, Chartis companies that currently carry the name „AIG“ and „AIU Holdings“, will begin a gradual transition of identity perceived the new names. Chartis will introduce the change of name in the world, taking into account local characteristics and most effective way in terms of costs to optimize the value of different businesses obshtozastrahovatelni global aspect. The company continues to assess whether the brand name of some individual operations in the world can be saved as separate because of their established value and visibility, or these companies are rebrandirani.
As regards specifically to our country, AIG insurance company Bulgaria EAD will be renamed. Change is expected to be legal fact until the end of the month in August 2009 will be the only change in name, but the company remains the same, with the same registration, license and that the same staff. Insurance coverage and any other conditions has issued insurance policies remain unchanged.
AIG Bulgaria Insurance operates on the Bulgarian market since 1997 Company is one of the most well-capitalized insurers, such as own funds exceed eight times the limit of its margin and about 60% minimum required warranty kapiptal.

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Finance