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AIG Europe Licensed to Operate a General Insurance Company In Georgia.

NEW YORK -- American International Group, Inc. (AIG) today announced that its wholly owned subsidiary, AIG Europe, S.A., has received approval from the Insurance State Supervision Service of Georgia for the establishment of a branch in Tbilisi, Georgia. AIG Europe, S.A. (AIG Europe) is headquartered in Paris, France.

"The AIG Companies are well established in Central & Eastern Europe and the Commonwealth of Independent States (CIS). We view the long term growth potential of the general insurance market in the Caucasus region as promising," said Bengt Westergren, President of AIG's general insurance operations in Central Europe & CIS, and Vice-Chairman of the Board of Directors of AIG Europe, S.A. "Given Georgia's links with both the European Union and the United States, we are delighted to lend our expertise in providing quality general insurance products and services to businesses and individuals in Georgia."

Nikoloz Kitiashvili has been appointed Manager of the branch in Georgia. Previously, Mr. Kitiashvili was the representative of Marsh Caspian Services in Georgia. The AIG Europe - Georgia branch is located at Meidan Palace, 7 Bambis Rigi Street, Tbilisi, Georgia.

AIG Europe offers a comprehensive range of general insurance products and is licensed in Georgia for the following classes of insurance: Personal Accident and Sickness, Land Transport, Aviation, Cargo, Carriers Liability, Property, Financial Products, Motor TPL, Professional Indemnity, General Liability, and Compulsory Fire Insurance.

The AIG Companies general insurance operations in the Central Europe and CIS region include operations in Azerbaijan, Bulgaria, Czech Republic, Finland, Hungary, Kazakhstan, Poland, Romania, Russia, Slovakia, Ukraine, and Uzbekistan.

American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
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Publication:Business Wire
Date:Jun 8, 2005
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