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It was the announcement that the insurance world was expecting, and one that would see the name of a global powerhouse disappear from the UK market forever.

AIG’s announcement that it was rebranding its property and casualty business to Chartis, formerly known as AIU, was a big step for the insurer as we move closer to the one-year anniversary of when AIG hit the skids. The AIG brand will disappear in the UK by the end of this year and Insurancetimes.co.uk subscribers were eager to find out what plans the insurer has in store for its business.

The story ‘AIG UK to be renamed Chartis’ was the most popular on the site in the last week, and it’s no surprise given the interest in the UK insurance market in recent times. AIG has received masses of online coverage in the past year, and this latest development was no different, with the news attracting a global audience as websites covered the story relating to the relevant AIG businesses in their respective countries as far as Asia and Africa.

Over in the States, news focused on the potential sale of the business. CNNMoney.com reported a story headlined ‘For sale by AIG: A unit called Chartis’ which began “Maybe AIU sounded too much like AIG.” The story said that the sale of the Chartis business could help to pay off a large chunk of the $83.3bn (£50.5bn) that the US government has pumped into the company. Don’t expect this one to go quietly just yet.

The five most read stories at insurancetimes.co.uk this week

AIG to become Chartis

Insurer undergoes major rebranding

Aviva nabs Zurich underwriting boss

Axel Schmidt appointed chief underwriting officer

Michael Rea appointed CCV chief executive

Towergate underwriting COO to head up acquisition vehicle

Insurers to pay benefits?

Closer working on education, benefits and investment proposed by chancellor Alistair Darling

Insurance cheats

The most recent scams revealed