AIG to change to Chartis

July 27, 2009

, NAIROBI, Jul 27 – AIG Kenya will in the next three months be christened Chartis after its parent company American International Underwriters Holdings in New York on Monday announced the re-branding of its worldwide property, casualty and general insurance operations.

AIG Kenya Managing Director Japh Olende said the move is an important step in the creation of a distinct entity separate from AIG Inc. and isolated from its challenges.

Mr Olende noted that the name change would not impact clients and that no action was required on their part.
“The re-branding does not affect clients’ policies which remain in-force with no amendments required,” Mr Olende said.

Earlier this year AIG Inc. had announced that it was transferring the worldwide property, casualty and general insurance operations of AIG (known as AIU Holdings Inc) into a special purpose vehicle, in order to position the ‘franchise as a separate and distinct entity from AIG Inc.’

Indications are that new brand is the next, critical step in positioning the Chartis franchise as an independent company.

Mr Olende noted that business would continue as usual while the change was taking place.

“We will continue to pay valid claims and write new business as usual and fully capable of meeting our obligations to policyholders,” he said.

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