Printer Friendly

AMERICAN HOME PROVIDES SURETY UNDERWRITING SERVICES TO NEW SECURITIES TRANSFER PRODUCT

 AMERICAN HOME PROVIDES SURETY UNDERWRITING SERVICES
 TO NEW SECURITIES TRANSFER PRODUCT
 NEW YORK, March 30 /PRNewswire/ -- American Home Assurance Company, a member company of American International Group, Inc. (NYSE: AIG), has announced it is providing surety underwriting services for financial institutions participating in the new Securities Transfer Agents Medallion Program (STAMP). STAMP was created in response to a recently adopted Securities and Exchange Commission rule governing signature guarantee acceptance. The program provides financial institutions the assurance that their signature guarantees will be honored by all transfer agents. American Home is the major provider of surety bonds that financial institutions participating in STAMP need.
 Within the securities industry, registered owners of securities must have their signature guaranteed prior to delivery or transfer of a stock. The new SEC rule 17Ad-15, which became effective on Feb. 24, 1992, means that transfer agents must now honor guarantees of all financial institutions that participate in a recognized signature guarantee program. The STAMP program has been endorsed by the Securities Transfer Association, Inc.
 Information about the program can be obtained by calling American Home at 800-348-2724 or via fax at 914-365-2498.
 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- 3/30/92
 /CONTACT: Michael Forman of American International Group, 212-770-3144/
 (AIG) CO: American Home Assurance Company ST: New York IN: INS SU:


AH -- NY059 -- 2888 03/30/92 12:17 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1992
Words:297
Previous Article:TOYOTA TESTIMONY AT CONGRESSIONAL TRADE HEARING CITES REDUCTION IN AUTO PARTS DEFICIT WITH JAPAN
Next Article:SELECTIVE INSURANCE GROUP TO ACQUIRE NIAGARA EXCHANGE CORP.
Topics:


Related Articles
AIG TO CREATE FIRST INSURANCE COMPANY UNDERWRITING OPERATION IN LLOYD'S OF LONDON
Meadowbrook Insurance Group, Inc. and Connecticut Surety Corporation Announce Joint Underwriting Agreement On Surety Business
New Bond Insurance Firm, American Capital Access, Targets Underserved Markets
The St. Paul Realigns Primary Insurance Operations, Establishes Global Specialty Product Group.
S&P Affirms Amwest Surety Insurance Co. 'BBpi' Rating.
SureDeposit is relaunched by Converge.
The St. Paul Purchases Australian Pacific Surety Serving New Zealand And Australia.
John Welch Joins CNA Surety as President and Chief Executive Officer.
CNA Surety's CEO Will Retire.
CNA Surety to Present at the FBR Capital Markets 2008 Fall Investor Conference on December 3rd, 2008.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters