AIG Study: U.S. Ultra High Net Worth Clients Own Nine Homes Overseas, Prefer Property in North and South America; Multinational Coverage Needed to…

AIG Study: U.S. Ultra High Net Worth Clients Own Nine Homes Overseas, Prefer Property in North and South America; Multinational Coverage Needed to Cover Risk

By a News Reporter-Staff News Editor at Insurance Weekly News -- Ultra high net worth (UHNW) clients in the U.S. tend to own multiple houses overseas, with North and South America the most popular locations for their foreign properties, according to a study of proprietary data by AIG Private Client Group, a division of the member companies of American International Group, Inc. (NYSE:AIG).

The study's findings helped the company develop a new multinational property coverage that serves U.S. UHNW clients with considerable overseas assets.

The AIG Private Client Group data looked at trends with clients who pay in excess of $250,000 in annual personal insurance premiums. These clients have particularly complex coverage and service needs to go along with their extensive global and domestic assets.

Keywords for this news article include: Financial Companies, Property and Casualty Insurance Companies.

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