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About AIG

 

With roots that trace back to 1919, we are a global insurance company with operations in more than 80 countries and jurisdictions. We provide a range of insurance products to support our clients in business and in life, including: general property/casualty, life insurance, and retirement and financial services through our General Insurance, Life and Retirement and Investments business units.

What unites us across all of these products is our commitment to helping our clients prepare for what’s next. We believe that by striving to provide the greatest value to our customers, we can deliver improved operating and financial performance and sustainable, profitable growth. Our strategy is focused on enhancing the value and competitive position of our insurance businesses and investing our capital where we can achieve attractive risk-adjusted returns, while maintaining strong levels of liquidity and capital.

Operating in Australia since 1957, we combine international experience with local expertise. Our worldwide perspective offers the benefits of global experience and anticipation of emerging risks while our local presence provides you with access to professionals who understand your unique market needs. We have offices, technical expertise and underwriting authority in Melbourne, Sydney, Perth and Brisbane.

Click on one of the links below to find out more about AIG
 

Why AIG Infographic

Watch the Why AIG? video.

Expertise

Our global perspective offers the benefits of global experience and anticipation of emerging risks while our local presence provides you with access to experienced professionals who understand your unique insurance needs. As we help our customers seize opportunities around the globe, we draw strength, knowledge and powerful perspectives from the people, places and cultures that comprise our organisation.

Commitment

We are in the business of making promises and keeping them. This, together with quality products and superior service helps us develop efficient, honest, fair and transparent relationships. We work in partnership with our customers and our network of brokers and partners, building strong sustainable relationships to help our customers manage and mitigate the risks they face every day.

AIG traces its roots to 1919, when American Cornelius Vander Starr established a general insurance agency, American Asiatic Underwriters, in Shanghai, China. Since then, an enterprising spirit, ingenuity, and tenacity have built the company into one of the world’s leading insurers, with offices in over 100 countries. The first Australian office opened in Collins Street, Melbourne in 1957. Within just two years, a second office was established in Sydney.

Today, AIG is focused on what it has been known for since the beginning: the willingness and ability to provide insurance coverage to meet the diverse needs of its clients.

Products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. and, in Australia, by AIG Australia Limited ABN 93 004 727 753 AFSL 381686. AIG Australia Limited is a wholly owned subsidiary of American International Group, Inc. (AIG), headquartered in New York.

AIG is a leading international insurance organisation serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

AIG Australia Limited (AIG Australia) is a general insurance company and is regulated by the Australian Prudential Regulation Authority (APRA).

To improve policyholders’ and other market participants’ understanding of AIG Australia’s capital adequacy position, APRA’s Prudential Standard GPS110 Capital Adequacy requires AIG Australia to publish its capital adequacy position on an annual basis.

AIG Australia’s capital adequacy position has been calculated as at 31 December 2018 and is provided below:

AIG Australia’s Capital Base

($’000)

Net Assets

327,425  

Net Surplus/(deficit) relating to Insurance Liabilities

40,538

Regulatory Adjustments to Common Equity Tier 1 Capital

(28,272)

Common Equity Tier 1 Capital

339,691

Additional Tier 1 Capital

0

Regulatory Adjustments to Additional Tier 1 Capital

0

Tier 2 Capital

0

Regulatory Adjustment to Tier 2 Capital

0

Capital Base

339,691

 

AIG Australia’s Prescribed Capital Amount

($’000)

Insurance Risk Charge

84,283

Insurance Concentration Risk Charge

-

Asset Risk Charge

116,136

Asset Concentration Risk Charge

-

Operational Risk Charge

26,226

less Aggregation Benefits

(43,873)

Prescribed Capital Amount

182,772

 

AIG Australia’s Capital Adequacy Multiple

($’000)

Capital Base

339,691

 

divided by

Prescribed Capital Amount

182,772

Capital Adequacy Multiple

1.86

AIG Australia is a member of the world wide AIG group of companies and is obliged to ensure that all third parties with whom we have an arrangement will abide by the AIG Third Party Code of Conduct.

Third Parties are required to familiarise themselves with this code.

Corporate Citizenship

At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability.

Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

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We Believe in the Power of our Differences

Diversity

True diversity encompasses more than gender and race. It includes the whole human experience: culture, education, personality, skills, life experiences, and beyond. It’s everything in each person’s life experience that results in unique thinking styles and equips us to meet the challenges of our complex and competitive global marketplace.  Diversity = Talent.

 

Inclusion

Inclusion is the critical link that enables the benefits of a diverse workforce to come to life, helping us unleash the true power of our differences. Fostering a culture within AIG that actively seeks and encourages diverse backgrounds, life experiences, and thinking styles will help us to better understand, connect with, and serve our clients – fulfilling our mission of being the most valued insurance company in the world.

Partners

At AIG, we maintain a global and inclusive mindset to effectively identify, develop, and retain a diverse workforce and to optimize creativity, productivity, and innovation.

Our Talent Programs

- Women’s Executive Leadership Initiative – Global

Workplace

At AIG, we work together to drive the development of an inclusive workplace. We also leverage education and cross-cultural experiences through Employee Resource Groups to build inclusive leaders and support employee engagement.

Our ERGs

- Women & Allies

Marketplace

The AIG brand is enhanced through our building of key diverse community and supplier relationships, and by tapping diverse perspectives and ideas to enhance global business opportunities

Our External Partners

  • NICI
  • Kidsxpress
  • Clontarf

Awards

Turnaround time
Premium Stability
Online Platform

Insurance Business Broker Survey Award for Best Turnaround Time

Insurance Business Broker Survey Award for Best Premium Stability

Insurance Business Broker Survey Award for Best Online Platforms

choice travel
IBA Best digital strategy
commission

Insurance Business  Broker Survey Award for Best Commission Structure

Insurance Business Award for Best Digital Strategy - General Insurer

CHOICE Recommended for Good2Go single trip travel insurance