AIG Launches EU Benefit Product Suite

March 25, 2008 ( - AIG Group Management Division, a division of the life insurance subsidiaries of American International Group, Inc. (AIG), has launched a group life insurance product package that will be offered to businesses located in 15 countries of the European Union (EU).

Administered and underwritten by AIG Life (Ireland) Ltd., and managed by the AIG Global Benefits Network, the new employee benefit product suite aligns to the Freedom to Provide Services provisions of the European Commission’s Third Life Directive, according to a press release.

  “Through a new group life product administered by a single AIG operation throughout the Union, we are highlighting the power of one: One company, one policy, one contact for employees in Europe,” said Gustavo Covacevich, president of the AIG Group Management Division in the announcement.   “This offering also reaffirms our commitment to provide our clients and their employees with comprehensive solutions that truly meet their needs.”

Notable attributes of the new product include:

  • Package of Pan-European group life and accidental death riders for corporations employing personnel in EU countries
  • Ability to harmonize renewal dates and benefits structures of existing contracts
  • Customer service teams in EU time zones, fluent in five core languages: English, French, German, Italian and Spanish

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