AIG MEMSA

Issue 13 | January 2008

AIG Events in the Region:

AIG launches in Oman

Oman, 7 November 2007 – Global insurance leader AIG today strengthened its long-standing presence in the Middle East with the launch of its new general insurance operation in Oman, AIG Oman. The new office, located in Qurum, is able to provide unmatched security drawing upon the vast capacity of AIG’s global network and expertise.

AIG Oman will provide insurance solutions for direct as well as reinsurance clients. It will offer home, travel and motor insurance solutions to individuals and small business owners.

AIG Oman is a branch of AIG MEMSA Insurance Company Ltd, which was launched in September 2006 as the regional headquarters for the MEMSA region and is located in the Dubai International Financial Centre (DIFC). The company has brought AIG’s industry leadership in disciplined underwriting standards to corporations and consumers across the Middle East, Mediterranean and South Asia.

Charles Bouloux, President AIG MEMSA, said: “We recognise the Middle East as developing into one of the world’s most important centres of financial activity. Having been in this region for over 50 years, we are excited at the opportunity to contribute to the ongoing growth of the region. As a well established player in the Middle East, we are attuned to the specific needs of each market by constantly evaluating them in order to develop new products and services to meet these unique needs.”

Later Iqbal Siddiqi, General Manager AIG Oman added “Insurance has always been important for the economic growth of any country as it plays a vital part by managing the associated risks.”

AIG MEMSA benefits from AIG’s 87 years of experience in delivering innovative insurance solutions to the international community through a network that currently spans more than 130 countries, reaching 65 million customers.

Osama Abdeen, Executive Vice President AIG MEMSA, Arabian Region concluded:
“AIG companies are present in almost every major Arabian market and this experience has provided AIG an edge over various other companies as AIG can come up with tailor made insurance solutions based on experience in similar markets.”

-ENDS-

About AIG
AIG MEMSA Insurance Company Ltd. is based in the Dubai International Financial Centre (DIFC) and is regulated by the Dubai Financial Services Authority. AIG MEMSA Insurance Company Ltd. is a member company of the American International Group Inc. (AIG). AIG Oman is the trading name for AIG MEMSA Insurance Company Ltd (Oman Branch). AIG, world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

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Xxx, Account Director
Buchanan Middle East
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