|AIG ISSUES STATEMENT REGARDING ACTIONS ANNOUNCED TODAY BY NEW YORK STATE ATTORNEY GENERAL|
NEW YORK, Feb 15, 2005 -- American International Group, Inc. (NYSE: AIG) today issued the following statement in response to actions announced today by the New York State Attorney General:
"The two plea agreements by AIG employees announced today involve the same broker relationship, similar conduct, and the same division of the same AIG subsidiary as the plea agreements entered into by two other AIG employees last October. The two new pleas are by employees who worked under the two individuals who previously entered into plea agreements.
"All of the AIG employees who have entered into plea agreements worked for the Excess Casualty Division of American Home Assurance Company, an AIG subsidiary that provides high-limit excess liability coverage to businesses. These employees have pled guilty to charges that they participated in improper bidding and quotation practices with Marsh & McLennan.
"The plea agreements announced today reflect information provided by AIG as part of its ongoing cooperation with the New York Attorney General's investigation.
"AIG takes this matter very seriously and deeply regrets that some of its employees were involved. AIG will continue to cooperate with the Attorney General's investigation and with other investigations."
American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
American International Group, Inc.
Joe Norton (News Media)