NEW YORK--Jun. 1, 2009--
American International Group, Inc. (AIG) today announced that Eric
Martinez, Jr. has been named Chief Executive Officer of United Guaranty
Corporation (UGC). UGC, based in Greensboro, North Carolina, is a
leading provider of mortgage guaranty insurance.
Mr. Martinez succeeds William V. (Billy) Nutt, who has left the company.
Mr. Martinez has worked with AIG since January 2009 in a variety of
positions, including a leadership role at AIG Global Real Estate. He
successfully negotiated the sale of several properties, including the
sale of AIG’s prime real estate holding in the Otemachi District of
Tokyo, Japan for approximately $1.2 billion. For the past two months, he
has led a comprehensive strategic review for UGC.
Paula Rosput Reynolds, Vice Chairman and Chief Restructuring Officer of
AIG, said, “Eric is a very talented executive and well suited to the
task ahead. He has successfully realigned organizations to meet new
challenges and I am confident that he will make significant progress in
setting a successful strategy for UGC.”
Prior to joining AIG, Mr. Martinez was Executive Vice President –
Claims, Customer Care and Business Operations for Safeco Corporation, in
Seattle, Washington. He thoroughly revamped his organization at Safeco,
achieving significant improvements in customer satisfaction and in
Previously, he served as Executive Vice President of Utility Operations
for AGL Resources, based in Atlanta, Georgia.
Mr. Martinez holds a bachelor’s degree in mechanical engineering from
Clemson University, Clemson, South Carolina and a MBA from Valdosta
State University, Valdosta, Georgia.
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.
Source: American International Group, Inc.
American International Group, Inc.