Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The company reclaims the corporate identity it dropped four years ago in the wake of economic turmoil in the US/CFM

Kenya

Chartis is now AIG

The company reclaims the corporate identity it dropped four years ago in the wake of economic turmoil in the US/CFM

NAIROBI, Kenya, Nov 21 – Insurance firm Chartis Kenya has reverted to the brand name AIG Kenya in line with a corporate rebranding strategy initiated by the New York-based parent company AIG Inc.

The company reclaims the corporate identity it dropped four years ago in the wake of economic turmoil in the US, which saw the American government inject $182 billion bail-out into the business to save it from imminent collapse.

Later, the insurer rebranded its property and casualty unit as Chartis and even considered making it a separately traded, publicly held company. So far the rescue debt has been paid fully to the US government plus a profit of approximately $16.4 billion on AIG’s stock.

AIG Kenya Managing Director Japh Olande announced that the company had also pulled out the ‘Your World insured” corporate slogan and replaced it with ‘Bring on tomorrow’.

“AIG has come back as a strong company. The board decided, now that crisis is over and AIG is back on its feet we adopt one name worldwide,” he said during the rebranding event.

The direct shareholding of the US government in AIG which exceeded 90 percent just less than 24 months ago would now fall to 16 percent after the ongoing $18 billion secondary offering of AIG shares in the New York Stock Exchange.

Olande has reassured customers that the name change would not affect product quality and confusion.

“Before the board did this, they first conducted a study worldwide asking the customers, what do you think about this brand AIG against Chartis and the result was almost 95 percent (for AIG),” he assured.

AIG group companies which are in 130 countries across the globe serve commercial, institutional and individual customers through extensive worldwide networks of any insurer.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...