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AMERICAN INTERNATIONAL GROUP RECEIVES CZECH INSURANCE LICENSE

AMERICAN INTERNATIONAL GROUP RECEIVES CZECH INSURANCE LICENSE
    NEW YORK, Sept. 30 /PRNewswire/ -- American International Group, Inc. (NYSE: AIG) has announced that it has received a license from the Czech Ministry of Finance to conduct insurance operations in the Czech Republic, commencing Oct. 1, 1992.  The new company will be First American Czech Insurance Company, a.s.
    "We are pleased to be the first American insurance organization to receive a composite license for both general and life insurance activities in the Czech Republic," said AIG Chairman M.R. Greenberg. "AIG has been conducting business in Central and Eastern Europe for many years and we have extensive relationships throughout the region. Foreign investment in the Czech Republic is increasing, as it is in other countries of Central Europe where market reform is moving ahead. This license now positions AIG to serve its worldwide clients with their insurance needs in the Czech Republic, as well as provide life and non- life insurance to Czech companies and citizens."
    First American Czech Insurance Company will offer commercial insurance products to foreign owned businesses and domestic, privatized companies, as well as a range of life insurance products for the domestic market.
    AIG also has composite life and non-life insurance companies in Poland and Hungary, and was the first American insurance organization to be licensed to do business in those countries.  In addition, AIG participates in an insurance company in Estonia.
    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-             09/30/92
    CONTACT:  Joe Norton, director of public relations of American International Group, 212-770-3144
    (AIG) CO:  AMERICAN INTERNATIONAL GROUP, INC. IN:  INS ST:  NY -- NY040 -- X461  09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
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