Chartis rebrands back to AIG

By David Ssempijja

The American International Group Inc. (AIG) is taking steps to rebrand its businesses, including Chartis back to AIG.

The decision was taken by management after research findings suggested that using a unified brand name would further strengthen the global firm’s presence in its marketing frontiers as it guides clients to customised solutions.

The managing director Chartis Uganda Insurance, Alex Wanjohi said in a statement that the rebranding move is also part of the process as the company seeks to add more value to a range of services provided.

“The decision to rebrand follows research conducted with our customers and partners from around the world. Respondents told us that a unified brand strategy using one brand name is the best way to communicate that we are a seamless organisation with unmatched product breadth and geographic reach,” he noted.

The company further believes that by going to market under one powerful brand with a long history of success around the world, provides even more value to all the stakeholders.

“Once we make the change, the AIG brand will be re-introduced in advertising, marketing materials, and signage. While we have not yet officially rebranded, Chartis will return to the AIG name in October,” said Robert Schimek, the company president and CEO for Europe, Middle East and Africa.

Company repays US Government
In another development, Schimek revealed that AIG fully repaid the US Government, the assistance rendered to the company, which at the height of the global credit crisis, reached $182b.

Making this announcement in London recently, the CEO also said that the direct shareholding of the US Government in AIG which exceeded 90% just less than 24 months ago, would fall to 16% after the ongoing $18b secondary offering of AIG shares in the New York Stock Exchange.

With all of the proceeds it has received to date, the US government received all of its principal back plus a profit of approximately $12.4b on AIG’s stock since 2008.

“We are proud of the milestones achieved, which point to the ongoing commitment of AIG’s employees worldwide to work together to serve customers and business partners,” he noted.

Company Status
With a history of 90 years, Chartis/AIG remains amongst the world leading property-casualty and general insurance organizations serving more than 70 million clients in over 160 countries.

The insurer further commands a global statutory surplus capital in excess of $35b and global gross insurance premiums above $50b, the strength that enabled it to pay an average of $117 in claims worldwide every business day in 2011.

On the local market front, the firm registered a premium turnover of sh41b in 2011, but also in relation to efficiency in