|AIG’S NEW LLOYD’S SYNDICATE APPROVED|
NEW YORK, November 6, 2001 - American International Group, Inc. (AIG) has announced that its new Lloyd’s syndicate has been approved by Lloyd’s and is conducting business.
The new syndicate, which is underwriting general insurance, is backed by a £100 million facility. Ascot Underwriting Ltd., the syndicate’s managing agent, is headed by Martin Reith. Mr. Reith is the former Managing Director of Brockbank Syndicate Management, a subsidiary of XL Capital.
AIG Chairman M. R. Greenberg said, “The establishment of this new Lloyd’s syndicate enhances AIG’s ability to offer innovative risk solutions to organizations around the world. AIG’s global network and products and services, coupled with the syndicate’s experienced management and underwriting team, will enable us to maximize the opportunities offered by the Lloyd’s market.”
# # #
AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG’s global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
# # #