Holdings of American International Group
| File:AIG Logo.svg AIG logo | |
| Company type | Public |
|---|---|
| Industry | Insurance, Financial services, Asset management |
| Founded | 1919 |
| Founder | Cornelius Vander Starr |
| Headquarters | New York City , United States |
Area served | Worldwide (over 130 countries) |
| Products | General insurance, Life insurance & retirement services, Financial services, Asset management |
| Website | www |
The insurance giant American International Group (AIG), operating in more than 130 countries, centers its business activities around four primary sectors: General Insurance, Life Insurance & Retirement Services, Financial Services, and Asset Management.
China
AIG possesses a 19.8% ownership interest in the People's Insurance Company of China (PICC), recognized as the nation's leading casualty insurer. Additionally, it holds control over Beijing Panam International Aviation Academy (BPIAA), which was founded in 2004 and stands as China's largest private institution for flight training. Nevertheless, following the 2008 financial crisis, BPIAA halted its operations while awaiting acquisition by new investors.
Japan
Since 1946, AIG’s subsidiary AIU Insurance has been active in Japan, where it ranks as the largest foreign nonlife insurer with a network of 14,000 agents. The company also owns American Home and Fuji Fire and Marine Insurance. In 2018, AIU merged with Fuji Fire to establish AIG Sonpo, enhancing AIG’s footprint in retail auto as well as life and health insurance markets.
Indonesia
In Indonesia, AIG delivers general insurance products through its AIU subsidiary.
Pakistan
Operating under New Hampshire Insurance Company, AIG maintains its headquarters in Karachi with branches spread across major urban centers. Since 1949, it has been involved in automobile insurance and introduced terrorism insurance to Pakistan in 2010 via a collaboration with Allied Bank Ltd.
United Kingdom
In the UK market, AIG functions under the Chartis and Chartis Direct brands and employs approximately 3,000 personnel. The company significantly raised its brand profile by entering into a landmark sponsorship agreement with Manchester United football club.
California
AIG holds licenses for more than twenty-five insurance companies within California, including entities such as AIG Casualty Co., AIG Centennial Insurance Co., AIU Insurance Co., American General Indemnity Co., American Home Assurance Co., Commerce And Industry Insurance Co., Granite State Insurance Co., National Union Fire Insurance Co. of Pittsburgh, Pa., and United Guaranty Commercial Insurance Co. In 2009, AIG divested 21st Century Insurance for $1.9 billion as part of a strategic effort to refine its portfolio.
Pennsylvania
Within Pennsylvania, AIG manages twenty licensed subsidiaries. Among these, National Union Fire Insurance Co., based in Pittsburgh, is one of the company's largest underwriters nationwide. Other prominent subsidiaries include New Hampshire Insurance, Insurance Company of the State of Pennsylvania, Granite State Insurance, and New Hampshire Indemnity, collectively reinforcing AIG’s substantial presence in the local market.
West Virginia
AIG provides a diverse range of products in West Virginia encompassing property and casualty insurance, life insurance and annuities, as well as workers' compensation coverage to address regional customer needs.
Aerospace
AIG owns International Lease Finance Corporation (ILFC), which is recognized as the world’s largest aircraft leasing firm. Its fleet comprises Boeing, Airbus, McDonnell Douglas MD-11, and MD-80 Series planes. As of June 30, 2008, the total assets leased amounted to $55 billion, with industry-based estimates valuing these assets between $5 billion and $14 billion.
Real estate
Founded in 1997 through a joint venture between AIG Global Real Estate Investment Corporation and Lincoln Property Company, AIG/Lincoln oversees commercial property projects throughout Europe. Its portfolio spans countries such as Poland, Hungary, Romania, the Czech Republic, Germany, Italy, Spain, Switzerland, Austria, and Russia, with a total managed area exceeding 2.2 million square meters.
Skiing
Until February 2017, AIG held ownership of Stowe Mountain Resort, which represented its only venture in the skiing industry. The resort was originally acquired by AIG’s founder, C.V. Starr, who made his initial investment in 1946. Beginning in 2005, the company launched a decade-long expansion initiative valued at $300 million.
Other holdings
AIG also controls Ocean Finance, a UK firm specializing in homeowner financing and mortgage services.
Additionally, the company served as the primary sponsor for the English football club Manchester United and the Japan Open Tennis Championships.
Subsidiary holdings
- AIG Advisor Group
- AIG American General Life Companies
- AIG UK Limited
- AIG Financial Products Corp., headquartered in London and incorporated in Delaware
- Banque AIG, a Paris-based branch of AIG Financial Products
- AIG Retirement
- Chartis, specializing in property and casualty insurance
- International Lease Finance Corporation
- Lexington Insurance Company
- FSC Securities Corporation
- Royal Alliance
- SagePoint Financial
- United Guaranty Corporation
- VALIC
- Western National Life Insurance Company (previously known as AIG Annuity Insurance Company)