American International Group Inc. said it will resume using its brand name in public in a move to recognize the company’s turnaround, Reuters reported.
The insurer, which received $182 billion in government bailouts during the financial crisis, has all but shunned its own name for years. Various AIG units reorganized under rebranded holding companies including Chartis.
But with recent advertising tests showing higher response rates and lower customer acquisition costs for AIG-branded products, the company said it was time for a change.
The company has been running ads for its Matrix Direct term life insurance business using “AIG Direct” branding since last September. Those new ads have been outperforming ads using the Matrix Direct brand by double digits.
“The increasingly positive sentiment toward AIG is a powerful asset,” Chief Executive Bob Benmosche said in a memo to staff, a copy of which was obtained by Reuters.
The Chartis property/casualty business will be known simply as AIG starting this fall, while the SunAmerica life businesses will be known as AIG Life and Retirement. Other AIG entities will keep their names but add an AIG tag to their logos.