AIG Establishes Marine Division

by Glen Shapiro, LawAndTax-News.com, New York

05 July 2006

Insurance giant American International Group, Inc. on Monday announced that it has established AIG Global Marine and Energy.

The unit will service the insurance, risk management and loss control needs of marine and energy clients throughout the world.

AIG Vice President Ralph Mucerino has been named President of AIG Global Marine and Energy. He assumed responsibility for the AIG Global Energy Division in 2002.

The AIG Companies' North American marine insurance underwriting operations have historically been handled by a managing general agent, American International Marine Agency, Inc (AIMA), a subsidiary of C.V. Starr & Co., Inc.

The AIG Companies have cancelled the agency arrangement with AIMA, issuing a notice of termination effective December 31, 2006, although AIMA will continue to be available as the AIG Companies' managing general agent until that time.

Richard J. Decker has joined the AIG Companies as President of AIG Global Marine. Based in New York, Mr. Decker will be responsible for the commercial marine portfolio globally, reporting to Mr. Mucerino. Mr. Decker previously served at ACE as Senior Vice President of Ocean Marine and President of the INAMAR Marine Underwriting Agency.

Mr. Mucerino observed that:

"Consolidating AIG Global Marine with the existing AIG Global Energy Division will concentrate AIG's resources in these two important market sectors."

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