US insurance giant AIG fights for local recognition
WHAT’S worse than being known as the local arm of a US insurer that has lost $US12 billion ($14.7 billion) as a result of the sub-prime mortgage crunch and is the subject to allegations of former executives diverting funds? The answer, it seems, is not being known at all.
After taking over as head of the local American Insurance Group life insurance operations two years ago, Stuart Harrison has resolved to bolster the brand name of AIG which, remains the world’s biggest insurer.
“When I arrived the first question I had to get over was from people saying, ‘Who the hell is AIG? Don’t they mean IAG, or perhaps ING?’.”