What Need Does It Serve?
AIG provides Property & Casualty Insurance, Life Insurance, Group & Individual Retirement products, bank-owned life products and Mutual Fund services to its clients.
Its end users include:
Retail CustomersSmall to medium businesses,CorporationsOther institutions
What Are The Alternatives?
AIG business model faces stiff challenges and competition from offerings by its global competitors such as:
TravelersPrudential FinancialHartford Financial Group (HIG)New York LifeNorthwestern Mutual GroupAXA US
Has 3 operating segments?
General Insurance: This business segment provides personal and commercial P&C insurance to individuals and institutions across the globe. The different product lines offered are General Liability, Financial Liability, Property Insurance, Personal Lines, Accident & Health, and Special Risk Liability. This business segment is divided into two geographical divisions-
North America (operates in the United States, Canada, and Bermuda)International (operates in Japan, United Kingdom, Europe, Asia Pacific, Latin America, Puerto Rico, Australia, the Middle East, and Africa)
Life & Retirement: This could be divided into four businesses –Individual Retirement
- provides fixed annuities, mutual funds, index annuities, and variable annuities.Group Retirement
- covers group mutual funds, group annuities, financial planning and advisory services, and investment products.Life Insurance
- provides term life and universal life insurance products. Furthermore, the business's international wing distributes life and health products in UK and Ireland.Institutional Market
- encompasses stable value wrap products, pension risk transfer annuities, guaranteed investment contracts, and bank-owned life products.
Legacy Portfolio & Other: It consists of products and solutions that have either been exited or discontinued and are no longer marketed.