The Group : AIG

American International Group, Inc. (AIG) is the leading U.S-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world.

AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products.

American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. 

AIG employs 40,000 people through a network of offices in approximately 130 countries and jurisdictions. Its core businesses consist of: 

• General and life insurance business 
  
  
• A portfolio of highly targeted financial services business 
  
  
• A growing global investment business 
  
  

• Extensive worldwide network. More than half of AIG's pretax income comes from foreign sources. 
  
  
• Disciplined underwriting and strict expense controls. These bedrock principles guide AIG's operations and result in a general insurance combined loss and expense ratio that regularly runs up to ten points above the industry average. 
  
  
  

In Singapore, American Home Assurance Company (AHA), a member company of AIG provides personal, property, casualty, marine and financial services insurance and through American International Assurance Company, Limited (AIA) operates its life insurance business. 

AIG's member company presence in Singapore goes back to 1927 when its first office, then known as American International Underwriters (AIU), was started. AIU was primarily acting as a managing agent for 10 insurance companies, handling risks for all the main classes of general insurance. 

After the Second World War, with growth and consolidation, AIU became the managing agent for three insurance companies: 

• American International Assurance Company, Limited 
  
  
• American Home Assurance Company 
  
  
• New Hampshire Insurance Company 
  
  

In December 1994, the managing agent agreement ceased and AIU transferred its assets to AHA, whereupon it assumed its current operation as the Singapore branch of American Home Assurance Company.