American International Group Inc. has received a regulatory approval from the Republic of Georgia in the Caucasus region to set up a general insurance company in the country's capital city of Tbilisi.

AIG said the action would provide an opportunity to lend its expertise on general insurance products and services in this Central European nation.

The carrier said it received license in Georgia for the following classes of insurance: personal accident and sickness, land transport, aviation, cargo, carriers liability, property, financial products, motor TPL insurance, professional indemnity, general liability, and compulsory fire insurance.

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