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NEW YORK, May 09, 2005 (BUSINESS WIRE) -- The Domestic Brokerage Group of American International Group, Inc. (AIG) today announced the formation of the AIG Financial Institutions Practice, a new organization dedicated to serving the insurance and risk management needs of the financial services sector. The Financial Institutions Practice is the third unit launched by the Domestic Brokerage Group in 2005; the formation of AIG Construction Solutions and AIG Real Estate Solutions was announced on March 14 and March 28, respectively.

"The launch of the AIG Financial Institutions Practice is part of our continued effort to streamline broker and client access to the breadth of AIG's insurance products and services," said Kristian P. Moor, AIG Executive Vice President, Domestic General Insurance. "Each of these units is dedicated to a specific industry sector and staffed with executives that are specialists in the risk management needs of financial, real estate and construction enterprises. These executives can bring together multiple product lines for a single account, which ultimately helps brokers build a comprehensive insurance program that covers their clients' complete risk profiles."

AIG Financial Institutions Practice account managers have been appointed in Atlanta, Boston, Chicago, Dallas, New York and San Francisco to facilitate broker access to the full range of insurance solutions the AIG Companies(R) can provide their clients, including(a):

  • Professional Liability Insurance;
  • Primary Casualty Insurance;
  • Primary General Liability Insurance;
  • Lead Umbrella and Excess Follow Form Insurance;
  • General Property Insurance;
  • Directors and Officers Insurance;
  • Environmental Liability Insurance;
  • Employee Benefits Programs; and
  • Accident and Health Insurance.

Scott A. Meyer, Senior Vice President of National Union Fire Insurance Company of Pittsburgh, Pa.(R), will serve as Practice Leader for the new unit. Mr. Meyer has more than 14 years of experience serving the insurance needs of financial institutions nationwide. He will report to Kevin Kelley, Senior Executive, AIG Financial Institutions Practice and Chairman and Chief Executive Officer, Lexington Insurance Company.

"Financial institutions face a wide range of exposures that need to be addressed by insurance experts who have specific experience serving the risk management needs of the sector," said Mr. Kelley. "By working with the AIG Financial Institutions Practice, agents and brokers can not only leverage the experience of the AIG Companies with respect to the financial sector, but also eliminate gaps in coverage that can result when dealing with multiple carriers."

For a list of regional account manager representatives, or more information about the AIG Financial Institutions Practice, please contact Scott A. Meyer, Practice Leader, AIG Financial Institutions Practice, at (212) 458-6317 or scott.meyer@aig.com.

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 retirement services, financial 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 in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

(a) AIG Companies refers to the domestic property and casualty insurance subsidiaries of American International Group, Inc. (AIG). Issuance of coverage is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all jurisdictions. Non-insurance services may be provided through independent third parties.

American International Group, Inc.
Andrew Silver