AIG 2006 Annual Report Download - page 31

The U.K./Ireland regional strategy is targeted at aligning the deliv-
ery of products and services along customer segment lines with an
emphasis on increasing new business while maximizing client reten-
tion. Many products have been launched for small to medium-sized
customers, including property-casualty packages and group personal
accident products. Strategies focused on deploying technology to
improve processes for acquiring and serving new business have met
with success, as have those which are focused on improving reten-
tion rates by enhancing customer service.
In Central Europe and the Commonwealth of Independent States,
AIU has a number of initiatives in place to take advantage of growth
opportunities by country and product lines. Russia presents tremen-
dous potential, and AIU has a five-year strategy to effect more effi-
cient growth in this important market. Larger countries in the region,
including The Czech Republic, Hungary, Poland and Finland, are also
contributing to the region’s progress. AIU has ambitious growth plans
for A&H products and further penetration of financial lines customer
segments.
In the Middle East, Mediterranean and South Asia (MEMSA)
region, AIG MEMSA Insurance Company Limited was incorporated in
the Dubai International Financial Centre. This strengthens AIU’s posi-
tion in the region as a provider of general insurance and will support
strategic initiatives in consumer lines. Turkey continues to be a strong
growth market, where AIG Sigorta A.S. is the top provider in the
A&H and financial lines sectors. Launched in Bahrain, AIG Takaful
B.S.C. was one of the first multinational companies to enter the
Shariah compliant insurance market. Leveraging its extensive under-
writing expertise and international presence, AIU’s strategy is to
become a global leader in this new market.
The AIU Latin America Division (AIU LAD), which includes major
operations in Brazil, Argentina and Mexico, has more than 17 million
clients and is one of the largest property-casualty organizations in
the region, where AIU LAD encompasses businesses in 19 countries,
some tracing roots that go back 65 years. AIU LAD has a clear
strategic focus across all lines of business that it writes, with a
special emphasis on personal accident, warranty, personal property
and financial lines, which have the greatest growth potential.
The division also emphasizes strategies geared toward expanding
bancassurance and retail and direct marketing distribution channels
in key countries, as well as those that focus on customer segmenta-
tion, an integral component of AIU LAD’s current and future success.
To support the effective execution of its segmentation strategy, the
division has created regional practice teams, each responsible for
one of four key areas: major accounts, corporate accounts, small
and medium-sized businesses, and consumer lines.
Annual Report 2006 AIG 29