Mucerino to Head New AIG Global Marine and Energy Division

June 30, 2006

American International Group, Inc. announced that it has established AIG Global Marine and Energy, a new division of the AIG property and casualty insurance subsidiaries. “The unit will service the insurance, risk management and loss control needs of marine and energy clients throughout the world,” said the bulletin.

AIG Vice President Ralph Mucerino has been named President of AIG Global Marine and Energy. He assumed responsibility for the AIG Global Energy Division in 2002. He joined AIG in 1979 and subsequently served in senior positions in both the domestic general and foreign general insurance units of the AIG Companies, including the commercial lines unit in Paris. He later served as Regional President of the American International Underwriters Africa and Middle East Region, and as Regional President of AIG’s non-life insurance companies in Japan and Korea. He was elected an AIG Vice President in 2005.

AIG noted: “The AIG Companies’ North American marine insurance underwriting operations have historically been handled by a managing general agent, American International Marine Agency, Inc (AIMA), a subsidiary of C.V. Starr & Co., Inc. The AIG Companies have cancelled the agency arrangement with AIMA, issuing a notice of termination effective December 31, 2006. While AIMA will continue to be available as the AIG Companies’ managing general agent until that time, North American marine insurance clients are now free, if the client prefers, to work directly with AIG Global Marine for their underwriting, claims and all other needs.”

AIG also announced that “Richard J. Decker has joined the AIG Companies as President of AIG Global Marine. Based in New York.” He will be responsible for the commercial marine portfolio globally, reporting to Mr. Mucerino. Decker previously served at ACE as Senior Vice President of Ocean Marine and President of the INAMAR Marine Underwriting Agency. “His experience in the insurance industry dates to 1969 when he joined INA as a College of Insurance intern,” said the bulletin. “He subsequently served as an Ocean Marine underwriter before moving through positions of increasing responsibility with Royal Insurance and with ACE.” Decker is Vice Chairman of the American Institute of Marine Underwriters, and will be named Chairman of the organization in November 2006. He is also Deputy Chairman of the National Cargo Bureau and Chairman of the Committee on Pilots of the Board of Underwriters of New York.

Mucerino commented: “Consolidating AIG Global Marine with the existing AIG Global Energy Division will concentrate AIG’s resources in these two important market sectors. AIG Global Marine and Energy will enhance our marketing and underwriting capability and take advantage of cross-selling opportunities, an important consideration to both our insureds and our brokers. Rich Decker’s extensive experience in the commercial marine industry will assure that the AIG Companies continue to provide our commercial marine clients worldwide with the broad-based integrated solutions for which AIG has long been noted. We are pleased to have him on board.”

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