|AIG GROUP MANAGEMENT DIVISION LAUNCHES GROUP LIFE PRODUCT THAT EXPANDS EMPLOYEE BENEFIT CAPABILITIES IN THE EUROPEAN UNION|
NEW YORK--March 25, 2008--AIG Group Management Division, a division of the life insurance subsidiaries of American International Group, Inc. (AIG), announced today the launch of a group life insurance product package that will be offered to businesses located in 15 countries of the European Union (EU). Administered and underwritten by AIG Life (Ireland) Ltd., and managed by the AIG Global Benefits Network, the new employee benefit product suite aligns to the Freedom to Provide Services provisions of the European Commission's Third Life Directive.
"Through a new group life product administered by a single AIG operation throughout the Union, we are highlighting the power of one: One company, one policy, one contact for employees in Europe," said Gustavo Covacevich, president of the AIG Group Management Division. "This offering also reaffirms our commitment to provide our clients and their employees with comprehensive solutions that truly meet their needs."
Notable attributes of the new product include:
"The preparation work is complete and our dedicated unit is now in place and ready for business," said Kevin Thompson, head of Multinational Group Risk Europe, "We now look forward to enhancing the service we provide to current and prospective clients alike."
For more information, visit www.aiggmd.com.
AIG Group Management Division (GMD) is a division of the life insurance subsidiaries of AIG. Headquartered in New York, GMD operates in more than 100 countries through a regional and local management structure. GMD's employee benefits, credit insurance, and global pension products and services are offered through the various life insurance subsidiaries of AIG, including American International Assurance (AIA), American Life Insurance Company (ALICO), Nan Shan (Taiwan), Philamlife as well as other strategic partners around the world.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
CONTACT: American International Group, Inc.
SOURCE: American International Group, Inc.