AIG UK to be renamed Chartis

AIG has rebranded its UK general insurance business as Chartis in its bid to create an independently operated company.

The rebrand of its property casualty business follows the formation of a special purpose vehicle into which AIG intends to contribute the equity of AIU Holdings, subject to regulatory approval.

Kristian Moor has also been appointed president and chief executive of the company which is headquartered in New York. It will include commercial insurance, foreign general insurance, and private client group operations with a statutory surplus of $32.1bn worldwide.

Moor has served as president of Chartis since March 2009. Prior to that, he was executive vice president of AIG and president and chief executive of AIG Property Casualty Group, which included responsibility for all of AIG’s commercial and personal lines property and casualty businesses in the U.S. and Canada.

“We are excited by this new stage in our evolution, which will sharpen appreciation for the value of one of the most experienced and extensive insurance platforms in the world,” Mr Moor said.

“Chartis employees are our greatest asset and our new brand embodies their relentless pursuit of excellence through innovation and an unwavering commitment to meeting clients’ needs. Today’s developments give us an even greater opportunity to build on our historic success.”

From today, the brands in the Chartis portfolio that go to market under the AIG and AIU Holdings names will begin to transition to the Chartis identity.

AIG said that that the word Chartis, derived from the Greek word for map, would "underscore the company’s 90-year history as a global pioneer able to guide clients to customised solutions".