Businessweek

American International Group, Inc. operates as an insurance company worldwide. The company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance, and other financial services to customers in approximately 130 countries. The company’s offerings include products and services that help businesses and individuals protect their assets, manage risks, and provide for retirement security. Segments The company’s segments include AIG Property Casualty; AIG Life and Retirement; and Other Operations. AIG PROPERTY CASUALTY This segment provides insurance products for commercial, institutional, and individual customers through a far-reaching property casualty network worldwide. This segment conducts its business primarily through various major operating companies, including National Union Fire Insurance Company of Pittsburgh, Pa.; New Hampshire Insurance Company; American Home Assurance Company; Lexington Insurance Company; AIU Insurance Company; Chartis Overseas Limited; Fuji Fire & Marine Insurance Company Limited; Chartis Singapore Insurance, Pte, Ltd.; and AIG Europe Limited. This segment is organized into Commercial Insurance and Consumer Insurance. Commercial Insurance Commercial Products Casualty: Includes general liability, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance. Casualty also includes risk management and other customized structured programs for corporate customers and multinational companies. Property: Includes industrial energy-related and commercial property insurance products, which cover exposures to man-made and natural disasters, including business interruption. Specialty: Includes aerospace, environmental, political risk, trade credit, surety and marine insurance, and various product offerings for small and medium sized enterprises. Financial: Includes various forms of professional liability insurance, including directors and officers, fidelity, employment practices, fiduciary liability, network security, kidnap and ransom, and errors and omissions insurance. Distribution: Commercial Insurance products are primarily distributed through a network of independent retail and wholesale brokers and branches, and through an independent agency network. Consumer Insurance Consumer Products Accident and Health (A&H): Includes voluntary and sponsor-paid personal accidental and supplemental health products for individuals, employees, associations, and other organizations. It also includes life products (outside of the U.S. market), as well as a range of travel insurance products and services for leisure and business travelers. Personal: Includes automobile, homeowners, and extended warranty insurance. It also includes insurance for high-net-worth individuals (offered through Private Client Group), including umbrella, yacht, and fine art insurance; and consumer specialty products, such as identity theft and credit card protection. Distribution: Consumer Insurance products are distributed primarily through agents and brokers, as well as through direct marketing and partner organizations and through the Internet. Markets The company distributes its products through three major geographic regions, including the Americas, such as the United States, Canada, Central America, South America, the Caribbean, and Bermuda; the Asia Pacific, such as Japan and other Asia Pacific nations, including China, Korea, Singapore, Vietnam, Thailand, Australia, and Indonesia; and Europe, the Middle East, and Africa, such as the United Kingdom, the Continental Europe, Russia, India, the Middle East, and Africa. Business Strategy The company’s business strategy includes business mix shift, underwriting excellence, and claims best practices. AIG LIFE AND RETIREMENT This segment provides life insurance and retirement services in the United States. This segment helps to ensure financial and retirement security for approximately 18 million customers. This segment conducts its business primarily through three major insurance operating companies, including American General Life Ins