|AIG COMPANIES ANNOUNCE TERMINATION OF AGENCY RELATIONSHIP WITH AMERICAN INTERNATIONAL MARINE AGENCY|
NEW YORK--July 25, 2006--The AIG Companies have announced that their agency relationship with American International Marine Agency of New York, Inc. (AIMA), a subsidiary of C.V. Starr & Co. Inc., originally scheduled to cease on December 31, 2006, has been terminated, effective today. Accordingly, AIMA no longer has any authority to act as agent for the AIG Companies.
All marine insurance business formerly conducted by AIMA on behalf of the AIG Companies will now be serviced by AIG Global Marine, a division of the property and casualty insurance subsidiaries of AIG. This includes all underwriting of new business, renewal business, in-force policy service, marine loss control and engineering, accounting and administrative functions formerly conducted by AIMA as an agent of the AIG Companies. Claims will continue to be handled by AI Marine Adjusters, Inc., a wholly owned subsidiary of AIG.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.