Lex Baugh in first interview since AIG nationalised by US government.
See part two: AIG UK: Rivals won’t poach business
AIG UK chief executive Lex Baugh has insisted that the insurer has not cut rates to retain business following the troubles of its US parent company.
In his first interview since AIG teetered on the brink of collapse before being effectively nationalised by the US government two weeks ago, Baugh sad: “It’s very important that we maintain our position in terms of rate adequacy, and send out the message to people that the AIG UK company they are dealing with today is the same company that they were dealing with a month ago.”
Asked if AIG UK had discounted rates, as market sources have suggested, Baugh replied: “No.”
For part two of Baugh’s interview with Insurance Times, see www.insurancetimes.co.uk at 9am tomorrow (Friday) morning.
