AIG began its roots in the humble town of Shanghai in 1919. One of the first steps that AIG took to expand its coverage is to acquire smaller companies and they did not stop until they were able to enter the U.S. market. Since then, the company has grown rapidly until today.
AIG is one of the largest policy providers for commercial and industrial companies in the areas of health, life, and retirement policies. Operating in more than 130 countries and hundreds of foreign subsidiary companies, AIG is truly one of the fastest growing insurance companies the world has ever witnessed.
Its expansions were mainly focused in the financial markets, industrial insurance policies, and commercial, in personal insurance, life, and retirement services. In 2004, nearly 50% of its revenue was rendered by its foreign services, which puts the company, in the history of insurance, as a financial institution covering large investments in retail and fund management programs.
In 2006, AIG reported that about 15% of its total revenue was provided by workers compensation and recently reported a surge of growth in personal and auto insurance policy programs. The unprecedented mass marketing campaigns on internet and telephone sales were responsible for the said development.
While AIG continues to provide personal coverage, their vehicle insurance policies are also getting noticed these days. They cover a wide range of situations, such as theft, vandalism, accidents, and even death. AIG even offers insurance coverage for motorcycles, personal water crafts, jets skis, and more.
With all these services summed up, AIG is truly a major financial player in the insurance market today, continuing to hold large commercial and industrial enterprises.