AIG Looks To Establish Beachhead In IraqAmerican International Group plans to be front and center when Iraq becomes peaceful enough to resume domestic insurance operations, a top executive with the New York-based carrier says.
"We want to be the first foreign insurance company over there," said Gordon Knight, president of AIG WorldSource. The company which presently insures 4,000 employees working for several hundred civilian contractors on the $18 billion Iraq reconstruction program believes that, over time, "there will be a stable insurance marketplace; people buying home, life insurance, insurance for their assets," Mr. Knight explained.
AIG, he said, is "excited" by the fact that a member of the National Association of Insurance Commissioners is headed for Baghdad to work on establishing an insurance regulatory framework for the country. Mr. Knight said the NAIC representative Arkansas Insurance Commissioner Mike Pickens, who has worked on arrangements to provide insurance expertise for China and Vietnamsent AIG a note saying he was going to Baghdad to draft insurance regulations for Iraq.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
