American International Group (AIG) has established AIG Global Marine and Energy, a new division of the AIG property and casualty insurance subsidiaries.
The AIG Companies' North American marine insurance underwriting operations have previously been handled by American International Marine Agency Inc (AIMA), a subsidiary of CV Starr & Co.
AIG Companies' said this agreement has now been cancelled.
AIG vice president Ralph Mucerino has been named president of the new division.
Richard Decker has joined the company as president of AIG Global Marine.
Mucerino said: "Consolidating AIG Global Marine with the existing AIG Global Energy Division will concentrate AIG's resources in these two important market sectors.
"AIG Global Marine and Energy will enhance our marketing and underwriting capability and take advantage of cross-selling opportunities, an important consideration to both our insureds and our brokers."
