Posted on 05 Nov 2009
Three months after American International Group Inc.'s (AIG) property/casualty business rebranded itself as Chartis Inc., the company has begun to legally change the entities' names.
In an e-mail Monday to business partners, Chartis Executive VP, President and Chief Executive Officer John Q. Doyle said New York-based American International South Insurance Co. will become Chartis Casualty Co. effective Dec. 1.
In addition, New York-based AIG Casualty Co. has been renamed Chartis Property Casualty Co. effective Nov. 1.
The changes will not impact coverage “in any way,” Mr. Doyle said in the e-mail.
In addition, some surplus lines entities and non-U.S. legal entities also have changed their names effective Nov. 1, the e-mail said.
In total, the company plans to legally change the name of roughly 25 to 30 units that “currently have either ‘AIG’ or ‘American International’ in their name” in connection with the rebranding efforts, an AIG spokesman said. The process is expected to be complete by year-end.
In addition, AIG will continue to evaluate a handful of other subsidiaries worldwide to determine if they will be renamed Chartis or remain stand-alone brands due to local brand value.
AIG’s Lexington Insurance Co., however, is not expected to be renamed, the spokesman said.
In July, AIU Holdings Inc., the unit AIG established early this year and into which it put its property/casualty operations with the intent of spinning them off, said rebranding the units as Chartis “will advance the organization to its goal of operating independence.”