AIG’s Chartis and American General Merge

January 24, 2012 ( - Two American International Group Inc. units – Chartis U.S. Accident and Health (Chartis A&H) and American General Life Companies (American General) – are merging their group benefits organizations and renaming it AIG Benefit Solutions.

AIG Benefit Solutions will be composed of Chartis Corporate Benefits, a unit that includes Corporate Medical Excess and @Work; and American General Benefit Solutions, a unit that includes Employee Benefit Solutions and Affinity Benefit Solutions.

The unified organization will offer a portfolio of nearly two dozen insurance products and programs – many available on both employer-funded and voluntary, employee-paid platforms – as well as resources for underwriting, enrollment and plan administration.

Products and services will be offered through two segments: U.S. Employee Benefits, which will offer group and individual employee benefits, including many voluntary/worksite products; and U.S. Affinity Benefits, which will offer products and services to affinity groups.

Integration of the units into one organization will take place in three phases through 2012.

AIG Benefit Solutions will be based out of Neptune, New Jersey and led by industry veteran Curtis W. Olson, who joined American General Benefit Solutions in June 2011 as president and CEO. Olson was previously president and CEO of ING Life Insurance, Korea, and also served for several years as president of ING Employee Benefits U.S.

“Our vision is to create an organization that is built for the group benefits marketplace of today and the future, with an emphasis on innovation, efficiency and a customer-centric focus,” Olson said.

Products and services from the combined Chartis Corporate Benefits and American General Benefit Solutions portfolios are now available through a cross-sell initiative that allows producers and employers to access the combined resources through a single representative.

Olson noted that business will continue as usual for the producers and customers of Chartis Corporate Benefits and American General Benefit Solutions, and they will have immediate access to the combined portfolio of products and services through one sales representative.