NEW YORK--(BUSINESS WIRE)--Feb. 29, 2016--
Lavastone Capital LLC, an affiliate of American International Group,
Inc. (NYSE: AIG), and Coventry First LLC today announced that they have
entered into an agreement to resolve their disputes.
Among the terms of the confidential settlement, Lavastone will be able
to transfer Coventry’s servicing of AIG’s life settlements portfolio to
another party, and Lavastone will be able to freely market or sell
policies that were originated by Coventry.
Lavastone and Coventry are pleased to have achieved a satisfactory
resolution of their dispute.
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American International Group, Inc. (AIG) is a leading global insurance
organization. Founded in 1919, today we provide a wide range of property
casualty insurance, life insurance, retirement products, mortgage
insurance and other financial services to customers in more than 100
countries and jurisdictions. Our diverse offerings include products and
services that help businesses and individuals protect their assets,
manage risks and provide for retirement security. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites are not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160229006610/en/
Source: American International Group, Inc.
Liz Werner, 212-770-7074