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Press Release: AIG Philippines’ expanded capacity addresses emerging risks and clients’ evolving needs

Global insurer AIG increases its Property Insurance capacity offering from USD$1.5 billion to USD $2.5 billion, further solidifying their market leader footing in the property-casualty market. AIG in the Philippines is a leading non-life insurer that offers numerous business insurance products and services for the market. The Makati-based insurer works closely with risk managers, insurance brokers and clients to create tailored insurance solutions for Filipino businesses.

“Our financial strength, with a capacity of $2.5 billion, enables us to provide comprehensive insurance coverage, which by far is the highest in the market,” said Mark Lwin, President and Chief Executive Officer of AIG Philippines Insurance Inc.

AIG's expanded capacity will reduce the need for multiple co-insurance providers and complex negotiations. This means ease of business transactions for insurance buyers who are in need of a broad insurance cover that is critical for big property, energy, construction and infrastructure projects.

“Having large capacity covers will minimize gaps between layers of Insurance coverage from multiple carriers,” Lwin explains. “We are focused on better understanding our clients’ specific business needs, and increasing our capacity offering to meet those needs,” added Lwin.

AIG Philippines has a longstanding history in the Philippines market, with an 85-year legacy of providing insurance solutions to the Filipino community. AIG’s combination of risk expertise, familiarity with the industries driving growth in the country, strong financial capacity, technical and engineering expertise, and responsive local claims team make the organization best suited to address the insurance solution requirements of Filipino businesses.

“The collective strength of AIG enables us to better evaluate exposures, helping them prepare for both traditional and emerging risks and, ultimately, delivering a solid foundation for their business objectives,” Lwin added.

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