American International Group, Inc. announced that “the acquisition of the GE Edison Life Insurance Company in Japan and GE’s U.S.-based auto and home insurance business has been completed, effective today.”
The bulletin indicated that the “Japanese life insurance company will be renamed AIG Edison Life Insurance Company subject to Japanese regulatory approvals. The GE property casualty insurance companies acquired by AIG will operate together with AIG’s Domestic Personal Lines subsidiaries.”
It added pointed out that “AIG companies have operated in Japan for more than 50 years.” Its existing life insurance businesses operates through American Life Insurance Company (ALICO Japan) and AIG Star Life Insurance Co., Ltd. “AIG is also the largest foreign property-casualty insurance organization in Japan, operating through the Japanese branches of AIU Insurance Company (AIU) and American Home Assurance Company,” the announcement concluded.
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