What Does AIG Offer?
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.
Who Are The Clients?
AIG provides Property & Casualty Insurance, Life Insurance, Group & Individual Retirement products, bank-owned life products and Mutual Fund services to
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