The American International Group traces its roots to World War I veteran Cornelius Vander Starr. In 1919, he established a fire and marine insurance-based firm in Shanghai, which saw rapid growth throughout the region. Strategy-wise, he employed locals as managers and agents, a practice still present in A.I.G., and quickly expanded to China, Indonesia and the Philippines. A.I.G., as we know it now, however, is largely successful because of the effort and vision of Maurice R. Greenberg who prioritized major commercial deals.

Today, the American International Group Incorporated as a business entity exists as a holding company that has four main divisions: Life Insurance & Retirement Services, General Insurance, Asset Management, and Financial Services. AIG has individual, institutional and giant commercial clients as the “most extensive worldwide property-casualty and life insurance network of any insurer.” AIG operations thrive in over 130 countries and jurisdictions, with a force of more than 116, 000 direct employees. The London, Switzerland, Tokyo, Paris, and New York Stock Exchange all list the company’s common stock.

Among its many internationally known subsidiaries are American Life Insurance Company (ALICO), Nan Shan Life Insurance Company, Ltd. (Nan Shan), the Philippine American Life and General Insurance Company (Philamlife) which belong to its Life Insurance & Retirement Services Operations. In Consumer Finance, American General Finance Inc. (AGF), handles North American accounts. This division’s operations in other countries, especially in developing and emerging markets, function through AIG Consumer Finance Group, Inc. (AIGCFG). It has established itself in Hong Kong, Argentina, Brazil, Poland, the Philippines, Taiwan, Thailand, Colombia, India, Mexico and China.

In alignment with its corporate philosophy of giving back to the local communities, AIG does numerous philanthropic works. In 2006, it created the AIG Goals for Kids Program, with the Manchester United Football Club for which it is the team’s principal sponsor. The company pledged £1,000 to a children’s charity in Ireland or the United Kingdom, for every goal that the team scores in any FA Premier League, FA Cup, Carling Game, or UEFA Champions League for that season.

Another brilliant collaboration in the name of charity is with U.S. Olympic Committee member, Disabled Sports USA (DS/USA). The organization received recognition as the 21st annual AIG Ski Cup Challenge and Charity Race beneficiary. Gathering many AIG employees, insurance brokers, and risk managers at Stowe Mountain Resort, this sports event becomes a medium for ski races as well as business meetings. AIG is also the institution’s National Corporate Partner, with contributions of up to $250,000 in initiatives to rehabilitate people with disabilities through sports.

Post Author: guest

This entry was posted on Tuesday, May 12th, 2009 at 12:18 pm and is filed under Company Profiles. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.