“The increasingly positive sentiment toward AIG is a powerful asset,” chief Benmosche tells staff
Chartis UK will be rebranded back to its American International Group (AIG) brand name, the insurer has confirmed.
AIG chief executive Bob Benmosche said yesterday that the bailed-out US insurer would resume using its brand name in public in recognition of the company’s turnaround.
The insurer was bailed out to the tune of $182bn by the US government during the financial crisis three years ago and has since managed to reduce 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.”
AIG rebranded a number of its units, including its UK property and casualty business, in 2009.
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.
AIG’s SunAmerica life businesses will also be known as AIG Life and Retirement.
Other AIG entities will keep their names but add an AIG tag to their logos.
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