Aviation Subsidiary of C. V. Starr & Co., Inc. Changes Name to Starr Aviation Agency, Inc.ATLANTA -- The American International Aviation Agency, Inc. (AIAA AIAA American Institute of Aeronautics and Astronautics, Inc. AIAA Associate Insurance Agency Administration (LOMA insurance program) AIAA Aerospace Industries Association of America, Inc. ), the aviation specialty subsidiary of C. V. Starr & Co., Inc., today announced that it has changed the company's name to Starr Aviation Agency, Inc. "The values, heritage and support of C. V. Starr & Co., Inc. have played a critical role in the success of Starr Aviation for more than four decades," said Steve Blakey, President, Starr Aviation. "This new corporate name further aligns Starr Aviation with one of the insurance industry's most recognized and trusted names, as we pursue global clients and new markets." About Starr Aviation Agency, Inc. Starr Aviation Agency, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of C. V. Starr & Co. Inc., is a worldwide underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. of aviation insurance, and a provider of specialized underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , safety and claims services. Through its industry-leading expertise and resources, the company delivers customized client solutions to complex issues surrounding insurance and risk management. Headquartered in Atlanta, Georgia, Starr Aviation was formed in 1961. About C. V. Starr & Co. Inc. C. V. Starr & Co. Inc. is an independently-owned holding company with insurance agencies and a portfolio of global investments. Through its wholly owned insurance agencies, C. V. Starr historically has produced approximately $2 billion annually of comprehensive insurance coverage among several specialty lines covering aviation, marine, excess casualty and property, including risks with international exposures. These agencies provide a broad spectrum of value-added specialized services including claims handling and settlement, risks assessment and loss prevention, and customer focused attention. C. V. Starr also has more than $3 billion in investment assets that include public and private equity, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" and alternative assets Alternative Assets A term referring to non-traditional assets with potential economic value. Notes: Examples of alternative assets include art and antiques, precious metals, fine wines, rare stamps and coins, and other collectibles such as sports cards. . C. V. Starr's significant presence in global markets, backed by the company's international expertise, has made it an industry leader for more than 50 years. The company is headquartered 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. . |
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