American International Group, Inc. unveiled a new logo (pictured left) that the company will use for its marketing and advertising later this fall, and also confirmed this morning that it has received notice that the company is under consideration to be designated as a systemically important financial institution (SIFI).
AIG says its updated logo will be used in a limited capacity until the company completes the rebrand of its property and casualty and life and retirement segments later this fall. In June, the company internally announced plans to rebrand its P&C segment, currently known as Chartis, as AIG and its life segment, known as SunAmerica, as AIG Life and Retirement.
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“AIG's clients, investors, and the general public are increasingly recognizing that AIG has made America whole plus a profit,” says Robert H. Benmosche, AIG president and chief executive officer, in a statement. “Our new logo reflects a rebuilt and forward looking AIG—contemporary, dynamic, transparent, and revitalized. Every day, we are working to build on that accomplishment bycontinuing to innovate, while providing our clients with outstanding products and services.”
AIG also confirmed this morning that the Financial Stability Oversight Council (FSOC) has sent the company a “notice of consideration,” alerting AIG that it will be reviewed in “Stage 3” of the FSOC's process to determine which non-bank financial institutions will be considered systemically significant, and therefore subject to federal oversight.
AIG officials have previously said they expect the company to come under federal oversight, and that they look favorably at such a prospect.
“In a way, we see it as a big positive,” Benmosche said in August. He added, “We really don't know when we will be regulated, but we do believe we will be regulated by the Federal Reserve, probably. We're putting an enormous amount of effort and cost to make sure that we are Fed-ready.”
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