AIG 2010 Annual Report Download - page 24

19FEB201100402989
American International Group, Inc., and Subsidiaries
Chartis U.S. consumer insurance lines include:
Accident & Health: Includes voluntary and sponsor-paid accidental and supplemental health products, including
accidental death and disability and medical excess for employees, associations and other organizations. It also includes
a broad range of travel insurance products and services for leisure and business travelers, including trip cancellation,
trip interruption, lost baggage, travel assistance and concierge services.
Personal: Includes insurance products and risk management services for high net worth individuals (Private Client
Group) including homeowners, automobile, umbrella, yacht and fine art coverages, as well as extended service
contracts, primarily for consumer electronics products.
Chartis U.S. net premiums written for 2010 are as follows:
Chartis U.S. NPW
35%
8%
10%
36%
11%
Accident & Health
Personal Lines
Casualty
Property
Specialty
Chartis International
Chartis International is the largest U.S.-based property and casualty insurer in Europe, the largest foreign insurance
company in Japan and China, and an established leader in other developing markets such as India, Korea, Argentina
and Russia. Chartis International is also a market leader in aerospace, marine, energy and financial lines.
Chartis International’s geographic footprint, its history in markets and its access to local resources allow it to better
serve global clients and to take advantage of new and emerging opportunities around the world.
Chartis International writes commercial (Casualty, Property and Specialty) and consumer (A&H, Personal and Life)
lines through a network of agencies, branches and foreign-based insurance subsidiaries. Chartis International uses
various marketing methods and multiple distribution channels to write both commercial and consumer lines of
insurance with refinements for local laws, customs and needs. Given its extensive worldwide presence, Chartis
International organizes itself into three broad regions: the Far East, Europe and Growth Economies (which primarily
include Asia Pacific, the Middle East and Latin America).
Chartis International’s business strategy, aided by its competitive position in the international market and ability to
write both commercial and consumer lines, is focused on growing its commercial business in emerging economies and
consumer lines in many parts of the world.
The acquisition of a controlling stake in Fuji Fire & Marine Insurance Company Limited (Fuji) in 2010 was
consistent with this strategy. The acquisition of Fuji enhances Chartis’ position in the substantial Japanese insurance
market and provides a new distribution channel. As a result of this transaction, Chartis International has solidified its
position as the largest foreign-owned property and casualty insurance group at December 31, 2010.
8 AIG 2010 Form 10-K