AIG Authorises Two New Entities in the UK and Luxembourg

By a News Reporter-Staff News Editor at Insurance Weekly News -- American International Group, Inc. (NYSE:AIG) announced the authorisation of new insurance companies in the United Kingdom (UK) and Luxembourg that will see all business transferred to the new entities ahead of the UK leaving the European Union (EU). This provides clients certainty of uninterrupted UK and European insurance coverage as part of AIG's planned restructure of its European business.

AIG Europe Limited began active preparation to be Brexit-resilient in 2015, and has taken a leadership position in the industry with its Brexit restructuring plans. The restructure involves the transfer of AIG Europe Limited's existing insurance business to the new UK and European companies and the merger of its existing carrier, AIG Europe Limited into the new European company.

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