AIG Plans Insurance Company in Luxembourg to Write Business across the European Economic Area and Switzerland, While
Retaining UK Headquarters
American International Group, Inc. (NYSE: AIG) today announced plans to locate an insurance company in Luxembourg to ensure
continued smooth operation of its business across the European Economic Area (EEA) and Switzerland once the United Kingdom (UK)
leaves the European Union (EU).
From 2019, AIG proposes to have two AIG subsidiary insurance companies in Europe – one in the UK to write UK business and one in
Luxembourg to write EEA and Swiss business, which will have branches across the EEA and Switzerland. AIG currently writes business
in Europe from a single insurance company based in the UK, AIG Europe Limited, which has branches across the EEA and
Switzerland.
The UK is AIG’s largest single operation in Europe. AIG will continue to support its European operations from the UK, which is a
core market where AIG will continue to invest and grow.
Anthony Baldwin, Chief Executive of AIG Europe said: “This is a decisive move that ensures AIG is positioned for whatever form
the UK’s exit from the EU ultimately takes. AIG sees opportunity in the ongoing resilience of the UK insurance market. At the same
time, we are ensuring that our clients and partners experience no disruption from the UK’s EU exit. Our Luxembourg company will be
complementary to our existing structure and will be part of our single European module.”
“Luxembourg, a founding member of the European Union, offers us a secure location in a stable economy with an experienced and
well-respected regulator in continental Europe close to many of our major markets.”
The proposed restructure is expected to complete in the first quarter of 2019, subject to regulatory approval.
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 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.
American International Group, Inc.
Investors:
Liz Werner, 212-770-7074
elizabeth.werner@aig.com
or
Media:
Nicola Ratchford, 020-3217-1789
nicola.ratchford@aig.com
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