|AIG APPLAUDS RULING BY FLORIDA DEPARTMENT OF INSURANCE IN AMERICAN BANKERS MATTER|
NEW YORK, February 19, 1998 - American International Group, Inc. (AIG) has
announced that the Florida Department of Insurance today denied Cendant's motion
to consolidate review of Cendant's application to take over American Bankers
Insurance Group, Inc. with the application filed by AIG. AIG is pleased with
this decision, which recognizes the different considerations involved in the
review process for the two applications.|
AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. 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.