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AIG FORMS SPECIAL PURPOSE VEHICLE TO ADVANCE SEPARATION OF GLOBAL PROPERTY CASUALTY AND GENERAL INSURANCE FRANCHISES HEADED BY KRISTIAN P. MOOR
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NEW YORK--Jul. 27, 2009-- American International Group, Inc. (AIG) today announced that it has formed the special purpose vehicle (SPV) into which it intends to contribute the equity of AIU Holdings (AIU Holdings, Inc. and AIU Holdings LLC, collectively “AIU Holdings” or the “Company”), subject to receipt of applicable regulatory approvals.

As previously announced on April 21, 2009, the SPV will consist of AIU Holdings’ Commercial Insurance, Foreign General Insurance, and Private Client Group businesses. Additionally, AIG announced the appointment of Kristian P. Moor as President and Chief Executive Officer of the Company.

“We are pleased to recognize Kris for his leadership accomplishments. He and the AIU Holdings senior management team are among the most experienced executives in the insurance industry,” said Edward Liddy, Chairman and Chief Executive Officer of AIG. “The SPV formation is an important milestone in our effort to enhance the value of our industry-leading property casualty and general insurance businesses for the benefit of all stakeholders. The businesses that comprise AIU Holdings are well-capitalized with a track record of success due to their innovation, customer service, and global reach.”

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.
Christina Pretto (News Media)
212-770-7083
Teri Watson (Investment Community)
212-770-7074