|AIG GLOBAL MARINE AND ENERGY LAUNCHES ALTERNATIVE ENERGY PRACTICE|
NEW YORK, Apr 11, 2007 -- AIG Global Marine and Energy, a division of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the formation of the AIG Global Alternative Energy Practice.
The practice will service the insurance, risk management and loss control needs of U.S.-based alternative energy clients, including organizations engaged in biofuel, hydroelectric, geothermal, solar and wind operations. Rick Gibbons, Executive Vice President of AIG Global Marine and Energy is leading the practice, reporting to Ralph Mucerino, AIG Vice President and President of AIG Global Marine and Energy. David Reisinger, Assistant Vice President, AIG Global Marine and Energy will manage the commercial alternative energy portfolio globally, reporting to Mr. Gibbons.
"The AIG companies have a long history and expertise in underwriting complex risks of the energy sector and proactively offering innovative products and services to meet the sector's ever changing needs. The Global Alternative Energy Practice aligns our intellectual capital and expertise to enable the AIG companies to underwrite non-traditional risks presented by alternative energy clients," said Rick Gibbons. "Never before has the need for innovation across this complex risk landscape been greater or more urgent."
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.
American International Group, Inc.