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AIG TO CREATE FIRST INSURANCE COMPANY UNDERWRITING OPERATION IN LLOYD'S OF LONDON

 AIG TO CREATE FIRST INSURANCE COMPANY
 UNDERWRITING OPERATION IN LLOYD'S OF LONDON
 LONDON, Sept. 16 /PRNewswire/ -- American International Group, Inc. (NYSE: AIG) today announced that its member companies have reached an agreement with Lloyd's of London to establish the first insurance company underwriting operation located at Lloyd's.
 According to James E. Smith, Senior AIG Officer in Europe, once the details of the arrangement with Lloyd's are finalized, which is expected shortly, AIG Companies intend to provide through this additional location the full range of AIG's commercial insurance products and services to Lloyd's brokers. Mr. Smith stated that these lines of business will include, among others, excess and umbrella coverage, oil and petrochemical coverage, financial lines, directors and officers liability, fidelity and surety, environmental impairment coverage, reinsurance and risk management services. In all cases, coverage will be available for North American and worldwide risks.
 AIG is the leading U.S.-based international insurance organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. 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.
 -0- 9/16/92
 /CONTACT: Joe Norton of director of public relations of American International Group, 212-770-3144/
 (AIG) CO: American International Group ST: New York IN: INS SU: PDT


TS -- NY022 -- 0027 09/16/92 10:41 EDT
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Publication:PR Newswire
Date:Sep 16, 1992
Words:259
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