20 February 2004 23:36
AIG Russia to spin off property reinsuring business
MOSCOW. Feb 20 (Interfax) - The management of Moscow-based insurance company ZAO AIG Russia, a subsidiary of American
International Group, Inc., has decided to spin off its property reinsuring business to a separate company, an insurance
business source told Interfax.
Life Alexander Zaretsky becoming president of SK AIG Russia. He
replaces Vadim Lischinsky, who was tapped for SK AIG Russia vice
The upshot is head of the company's life insurance subdivision AIG-
president.
The source noted that new insurance law prohibiting the combination of life insurance and re-insurance caused SK AIG
Russia to halt operations with incoming reinsurance.
When the new company will start working or what it will be called has not yet been decided, the source noted.
At the end of the first half of 2003, SK AIG Russia occupied 33rd place in terms of asset size on the Interfax-100
insurance company rankings compiled by the Interfax Center for Economic Analysis. [RU EUROPE EEU ASIA EMRG INS ECI CORA]
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