American International Group's property and casualty business gained further distance from its beleaguered parent with the creation of a special-purpose vehicle and a second brand name change–to Chartis.
The New York-based insurer formed an SPV in which to fold the equity of its first rebranding initiative–AIU Holdings LLC. The new entity will consist of AIU's commercial insurance, foreign general insurance and private client group.
Kristian P. Moor was appointed president and chief executive officer of the new company.
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