AIG 2014 Annual Report Download - page 29

ITEM 1 / BUSINESS / COMMERCIAL INSURANCE
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Commercial Insurance Distribution Network
Property Casualty
Property Casualty products are primarily distributed through a network of independent retail and wholesale brokers, and
through an independent agency network.
Mortgage Guaranty
Mortgage Guaranty products and services are distributed to a comprehensive range of mortgage originators including
national mortgage, community and money center banks, as well as through builder-owned, regional mortgage and internet-
sourced lender and credit unions.
Institutional Markets
Institutional Markets products are primarily distributed through specialized marketing and consulting firms and structured
settlement brokers.
Commercial Insurance Competition
Operating in a highly competitive industry, Property Casualty competes against several hundred stock companies, specialty
insurance organizations, mutual companies and other underwriting organizations in the U.S. In international markets, Property
Casualty competes for business with the foreign insurance operations of large global insurance groups and local companies in
specific market areas and product types. Mortgage Guaranty competes with several private providers of mortgage insurance,
both well-established and new entrants to the industry, and the Federal Housing Administration, which is the largest provider of
mortgage insurance in the United States. Institutional Markets competes with large domestic (both stock and mutual) life
companies, as well as international life companies.
Insurance companies compete through a combination of risk acceptance criteria, product pricing, service and terms and
conditions. Commercial Insurance distinguishes itself in the insurance industry primarily based on its well-established brand,
global franchise, financial and capital strength, innovative products, expertise in providing specialized coverages and customer
service.
We serve our business and individual customers on a global basis — from the largest multinational corporations to local
businesses and individuals. Our clients benefit from our substantial underwriting expertise and long-term commitment to the
markets we serve.