Rebranding
14th October 2009
17:00 BST London
A key tenet of AIG's government backed re-structuring plan was to establish a separate holding company for the group's main general insurance operations, known as AIU Holdings Inc and consisting of the Commercial Insurance, Foreign General Insurance, and Private Client Group businesses of AIG.
On July 27th 2009 AIG announced the establishment of a special purpose vehicle to which AIU Holdings Inc would be contributed in preparation for the potential sale of a minority stake in the business, which ultimately may include a public offering of shares, depending on market conditions. Additionally, AIG announced the appointment of Kristian P. Moor as President and Chief Executive Officer of the Company and the establishment of a new brand name for the company's operations to be known as Chartis.
With a combined worldwide statutory surplus of $32.1 billion worldwide at year-end 2008, Chartis will serve more than 40 million clients in over 160 countries and jurisdictions. A Chartis update presentation issued by the company on September 10th 2009 can be accessed by the following link: