|AIG'S AMERICAN HOME ASSURANCE COMPANY REACHES AGREEMENT WITH NEW JERSEY MEADOWLANDS AND NEW JERSEY ATTORNEY GENERAL ON ENCAP REMEDIATION|
NEW YORK, Apr 04, 2009 -- AIG's American Home Assurance Company has announced that, after productive discussions with the New Jersey Meadowlands Commission and the New Jersey Attorney General's Office, it has agreed to perform under the surety bond it issued to the New Jersey Meadowlands Commission on behalf of EnCap Golf Holdings LLC and will immediately begin remediation of the landfills in Lyndhurst, North Arlington, and Rutherford that were the subject of the bond.
Russell Johnston, President of AIG's environmental unit, said, "We are glad to move forward in cleaning up this site and transforming it into a safe, healthy, and attractive part of the Meadowlands area."
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.