Company Website:
http://www.aig.com/home_3171_411330.html
NEW YORK -- (Business Wire)
American International Group, Inc. (NYSE:AIG) today announced that on
April 30, 2017, it successfully completed the sale of AIG Fuji Life
Insurance Company, Ltd. (AFLI) to FWD Group, the insurance arm of
Pacific Century Group. The deal was originally announced in November
2016.
AFLI will be a wholly owned subsidiary of FWD Group following the close.
AFLI will continue under its current corporate name pending regulatory
approval of a new name.
In-force policies will not be affected by the transfer of ownership.
Under the terms of the agreement, FWD Group will maintain AFLI’s
existing life insurance distribution agreements with AIG companies in
Japan. AIG will collaborate with FWD to support the growth of the life
insurance business in Japan.
The close of this transaction does not affect AIG’s extensive property
casualty business in Japan, the largest of any foreign-based insurer in
the country. Japan, where AIG has operated since 1946, represents the
company’s largest personal insurance market and third largest commercial
insurance market globally, based on net premiums written by country. AIG
will continue to focus on Japan’s property casualty market through its
local subsidiaries: Fuji Fire & Marine, Ltd.; AIU Insurance Company,
Ltd.; and American Home Assurance Company, Ltd.
American International Group, Inc. (AIG) is a leading global insurance
organization. Founded in 1919, today AIG member companies provide a wide
range of property casualty insurance, life insurance, retirement
products, and other financial services to customers in more than 80
countries and jurisdictions. These diverse offerings include products
and services that help businesses and individuals protect their assets,
manage risks and provide for retirement security. AIG’s core businesses
include Commercial Insurance and Consumer Insurance, as well as Other
Operations. Commercial Insurance comprises two modules – Liability and
Financial Lines, and Property and Special Risks. Consumer Insurance
comprises four modules – Individual Retirement, Group Retirement, Life
Insurance and Personal Insurance. AIG common stock is listed on the New
York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
and www.aig.com/strategyupdate
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
Caution Concerning Forward-Looking Statements
Certain statements in this press release constitute forward-looking
statements. These statements are not historical facts but instead
represent only AIG’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside AIG’s control. It is
possible that actual results will differ, possibly materially, from the
anticipated results indicated in these statements. Factors that could
cause actual results to differ, possibly materially, from those in the
forward-looking statements are discussed throughout AIG’s periodic
filings with the SEC pursuant to the Securities Exchange Act of 1934.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170430005041/en/
Contacts:
American International Group, Inc.
Investors:
Liz Werner,
212-770-7074
elizabeth.werner@aig.com
or
Media,
U.S.:
Kenny Juarez, 212-458-8352
kenny.juarez@aig.com
or
Media,
Japan:
Takuro Matsuyama, 81-3-5400-3944
matsuyama.takuro@aig.co.jp
Source: American International Group, Inc.
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