AIGFA To Rebrand Itself As SagePoint Financial

Phoenix-based AIG Financial Advisors said it is rebranding itself as SagePoint Financial Inc. as the company prepares itself to be sold from its parent company, American International Group.

A company spokesperson, Linda Skolnick, denied that the action was taken because the subsidiary was unhappy about name linkage to its financially troubled parent.

"Our move to rename AIGFA evolved out of AIG's decision last fall to divest businesses outside of its core property and casualty insurance operations, including our broker-dealer organization," said a memo from Larry Roth, president and chief executive of AIG Advisor Group, which includes AIGFA.

"He added that a name change would be inevitable under new ownership, and "it simply made good sense to begin building a new identity as soon as possible." Mr. Roth also said rebranding now "best ensures that we retain maximum value for AIGFA as the divestiture process moves forward."

While the letter states that a name change "will be a positive event for AIGFA's advisors and their clients," Ms. Skolnick, senior public relations associate, AIG Retirement Service Inc., said the idea that AIGFA pursued a name change because of displeasure over its association with the AIG brand should not be considered as a reason for the rebranding.

Mr. Roth's letter said the name SagePoint Financial was chosen because it "represents brand attributes that underscore our core operating philosophy--informed advice, wise counsel and strong relationships."

AIG previously changed the name of its auto insurance business from to 21st Century. The 21st Century business unit is also slated to be sold, according to AIG spokesman Joe Norton.

Mr. Norton said 21st Century and AIGFA are the only two AIG companies that have rebranded, besides companies that have already been sold.

AIG Financial Advisors is part of AIG Retirement Service and is not the same as AIG Financial Products.

About the Author
Phil Gusman,

Phil Gusman,

Phil Gusman is Managing Editor of Prior to joining National Underwriter in 2008, he was Editor of Insurance Advocate. Gusman has also served as Associate Editor of Crackdown!, an insurance fraud publication, and Assistant Editor of Empire State Report, which covers New York politics. He graduated in 2002 from Plattsburgh State University in New York. Gusman may be reached at Follow him on Twitter: pgusman and PC360_Markets


Resource Center

View All »

EPLI Programs Crafted Just For Your Clients

Bring us your restaurant clients, associations and other groups and we’ll help you win more...

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Get $100 in leads with $0 down!

NetQuote's detailed, real-time leads have boosted sales for thousands of successful local agents across the...

The Growing Role of Excess & Surplus Lines in Today’s...

The excess and surplus market (E&S) provides coverage when standard insurance carriers cannot or will...

Increase Sales Conversion with this Complimentary White Paper

This whitepaper will share proven techniques - used by many of the industry's top producers...

D&O Policy Definitions: Don't Overlook These Critical Terms

Unlike other forms of insurance where standard policy language prevails, with D&O policies, even seemingly...

Environmental Risk: Lessons Learned from Willy Wonka and the Chocolate...

Whether it’s a chocolate factory or an industrial wastewater treatment facility, cleanup and impacts to...

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.