AIG Insurance
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AIG Insurance (American International Group, Inc) is a global leader in insurance services, operating in over 130 countries. The company serves individual, commercial and institutional customers. AIG Insurance has the most extensive life insurance and property-casualty networks.[br]
AIG Insurance: Company History
In 1919, an insurance agency established by Cornelius Vander Starr in Shanghai became the first westerner-enterprise to sell insurance in the Chinese market. As Mao’s Red Army advanced towards Shanghai in 1949, AIG shifted its base to the current headquarters in New York City. This was followed by the company’s expansion into new markets, such as Europe, Latin America and West Asia.
In 1962, the management of the lagging US holdings was given by Starr to Maurice Greenberg, who brought the focus on corporate coverage that offered high margins. He promoted sales through independent brokers to eliminate payments to agents. In 1968, Greenberg was declared by Starr as his successor. The next year, the company got listed.
AIG Insurance: Products
AIG Insurance offers reimbursements to cover losses and expenses in the following categories:
- Home: A lifetime investment, a home is one of those things that has emotions attached to them. Insuring it against losses becomes necessary as every homeowner has a sense of belonging towards his or her property. AIG home insurance protects customers from any kind of damage to the home.[br]
- Travel: AIG, the world’s largest travel insurance company, provides comprehensive coverage for travel. A trip can have varied purposes, such as business, holidaying and shopping. Losing baggage and important documents (including your passport) are situations you do not want to find yourself in. Also, travelers must plan for risks, such as accidents or illnesses. AIG insurance takes such unforeseen emergencies into account during travel.
- Accident and Health: AIG Insurance provides health and accident insurance plans for both individual and corporate customers. These policies ensure that valuable people like members of your family or employees are protected from emergencies.
- Motor Insurance: Insuring your vehicle gives you coverage for third party liability and provides an all-round protection.
Additionally, AIG provides financial, asset management and retirement services. The company is listed on the New York Stock Exchange.
