solutions that meet consumer needs for financial and retirement security, using its scale and capital strength to pursue growth opportunities. OTHER OPERATIONS This segment includes mortgage guaranty operations conducted by United Guaranty Corporation (UGC). Mortgage Guaranty The company provides private residential mortgage guaranty insurance, which protects mortgage lenders and investors from loss due to borrower default and loan foreclosure. UGC insures approximately 1 million mortgage loans in the United States. The company covers mortgage lenders for the first loss from mortgage defaults on high loan-to-value conventional first-lien mortgages. Products and Services: UGC provides a range of products and services, including first-lien mortgage guaranty insurance in a range of premium payment plans. UGC's primary product is private mortgage insurance. The coverage the company provides — which is called mortgage guaranty insurance, mortgage insurance, or simply MI, protects lenders against the increased risk of borrower default related to high loan-to-value mortgages — those with approximately 20 percent equity — enabling borrowers to purchase a house with a modest down payment. Homeowner Support: UGC also works with homeowners who are behind on their mortgage payments to identify ways to retain their home. As a liaison between the borrower and the mortgage servicer, UGC provides the added support to qualified homeowners to help them avoid foreclosure. Distribution Network The company’s distribution channels include national mortgage bankers, community banks, money center banks, builder-owned mortgage lenders, regional mortgage lenders, Internet-sourced lenders, and credit unions. Competition UGC competes with The Federal Housing Administration. Other Operations also include Global Capital Markets, Direct Investment book, Corporate & Other and Aircraft Leasing. Global Capital Markets consists of the operations of AIG Markets, Inc. (AIG Markets) and the remaining derivatives portfolio of AIG Financial Products Corp. and AIG Trading Group Inc. and their respective subsidiaries (collectively AIGFP). AIG Markets acts as the derivatives intermediary between AIG and its subsidiaries and third parties to provide hedging services for AIG entities. Direct Investment book consists of a portfolio of assets and liabilities held directly by AIG Parent in the Matched Investment Program (MIP) and certain non-derivative assets and liabilities of AIGFP. Aircraft Leasing consists of ILFC. ILFC is an aircraft lessor. ILFC acquires commercial jet aircraft from various manufacturers and other parties and leases those aircraft to airlines around the world. As of December 31, 2013, ILFC had a lease portfolio of approximately 1,000 aircraft. Business Strategy The company’s business strategy includes risk selection, innovation, and ease of use. Regulations The company is regulated by the Board of Governors of the Federal Reserve System and subject to its examination, supervision and enforcement authority and reporting requirements as a savings and loan holding company and as a systemically important financial institution. The Dodd-Frank Wall Street Reform and Consumer Protection Act has effected comprehensive changes to the regulation of financial services in the United States and subjects the company to substantial additional federal regulation. In March 2014, American International Group Inc. (AIG) has launched Grand Isle SAC Limited subsidiary in Bermuda after a demand for alternative risk financing programmes was made mainly by small and medium-sized companies. Significant Events In June 2014, American International Group and Oak Hill Capital Management Inc. have established an asset management firm Varagon Capital Partners to provide direct lending services to middle market companies. In September 2014, AIG announced the establishment of its EMEA Treasury Operations Centre in Dublin. History American International Group, Inc. was founded in 1919.
american international group
(AIG:New York Consolidated)
175 Water Street
New York, NY 10038
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