AIG Forms New Unit to Coordinate Global Risk Mgt., Captive Capabilities

February 25, 2003

American International Group, Inc. (AIG) announced the formation of AIG Global Risk Management, established to consolidate the global risk management and captive capabilities of the AIG companies.

Charles Dangelo, president of AIG Risk Management, Inc. (AIGRM), AIG ‘s domestic risk management company, will head the new unit. AIG Global Risk Management will be based in New York, combining the staff and operations of AIGRM with the home-office risk management staff of American International Underwriters Risk Management (AIU Risk Management) and AIG Insurance Management Services, Inc., which forms and manages captives.

AIU Risk Management provides risk management services internationally.

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