AIG General Insurance License in Vietnam Announced by Vietnam's Prime Minister Phan Van Khai.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ) has announced that its subsidiary, American International Underwriters Insurance Company (AIUI AIUI As I Understand It ), has been notified that it will receive a license from the government of Vietnam to operate a wholly owned general insurance company in Vietnam. Vietnam's Prime Minister, Phan Van Khai, announced the license yesterday at the Asia Society in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . This would be the first general insurance license granted by Vietnam to a U.S.-based insurance organization. The license would permit AIG to operate a general insurance company throughout Vietnam. The name of the company will be AIG General Insurance (Vietnam) Company Limited (AIG Vietnam), which will market property-casualty insurance products to both individuals and businesses. AIG Vietnam will be headquartered in Hanoi.AIG Vietnam expects to begin operations as soon as all regulatory approvals are in place, which are anticipated by the end of the year. Commenting on the license, AIG President and Chief Executive Officer Martin J. Sullivan Martin J. Sullivan (born 1955 in Essex, England), is President and Chief Executive Officer of American International Group, Inc. Educated at the Sydney Russell School in Dagenham, Essex, in January 2007, he donated £50,000 to the school saying: said, "We are pleased that the government of Vietnam will grant AIUI a general insurance license, the first U.S.-based insurer to receive such a license in Vietnam. "AIG's history in Vietnam dates back to the 1920s. We returned in 1993 as the first insurance organization to obtain representative office status, and in 2000 we received the first life insurance license granted to a U.S.-based insurer. Since then, AIG's life operations in Vietnam have grown rapidly, with more than 20,000 agents currently serving the market. The ability to offer general insurance products in the country presents an additional opportunity to participate in the growth and development of Vietnam and in the region." American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. |
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