Public use of the AIG name will resume in recognition of the company’s ‘complete turnaround’
Chartis UK will revert back to its original AIG (American International Group) brand name this autumn, the insurer has confirmed.
AIG chief executive Bob Benmosche said last week that the bailed-out US insurer would resume public use of its brand name in recognition of the company’s turnaround.
The insurer was bailed out to the tune of $182bn (£120bn) by the US government during the height of the financial crisis three years ago, but has since reduced its debt to $29bn.
A spokesman for Chartis said: “AIG is close to achieving a complete turnaround and continues to make significant progress restoring its reputation.
“The AIG name is well respected among partners and customers in every corner of its businesses.
“This fall, Chartis will be rebranded AIG, and SunAmerica Financial Group will become AIG Life and Retirement.”
In 2009, AIG rebranded a number of its units, including its UK property and casualty arm. But with recent advertising tests showing higher response rates and lower customer acquisition costs for AIG-branded products, the company said it was time for a change.
“The increasingly positive sentiment toward AIG is a powerful asset,” Benmosche said in a memo to staff.
Other AIG entities will keep their names but add an AIG tag to their logos. The cost of the rebrand was not disclosed.