Rodney O. Martin, Jr. to Be Named Chairman of AIG International Life and Retirement Services; Edmund S.W. Tse to Retire
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NEW YORK--(Business Wire)-- American International Group, Inc. (AIG) has named AIG Executive Vice President Rodney O. Martin, Jr. Chairman, International Life and Retirement Services. In his new role, Mr. Martin will be responsible for AIG`s international life and retirement businesses, including American International Assurance Company Limited (AIA), American Life Insurance Company (ALICO), AIG Star Life Insurance Co., Ltd., AIG Edison Life Insurance Company, and Nan Shan Life Insurance Company, Ltd. In addition, Mr. Martin will serve as Chairman of ALICO and Chairman of AIA. Mr. Martin reports directly to AIG Chairman and CEO Edward M. Liddy. Mr. Martin will assume these additional responsibilities following the retirement of AIG Senior Vice Chairman and AIG Board member Edmund Tse, 71, who has served 48 years in key roles with AIG and was the principal architect of AIG`s global life insurance platform. Mr. Tse will step down at AIG`s Annual Meeting of Shareholders, scheduled for May 13. He will continue to serve as Honorary Chairman of AIA and Non-Executive Chairman of both Nan Shan and the Philippine American Life and General Insurance Company (Philamlife). Mr. Tse began his career at AIG in 1961 when he joined AIA in Hong Kong. He was named President and Managing Director of Nan Shan in 1975, President and CEO of AIA in 1983, Chairman of Nan Shan in 1990, and Chairman and CEO of AIA in 2000. He was elected to the AIG Board of Directors and appointed Vice Chairman in 1997 and Senior Vice Chairman in 2001. Mr. Tse served as AIG Co-Chief Operating Officer from 2002 to 2003. He was the first Chinese executive to be elected to the Insurance Hall of Fame, the most prestigious award in the insurance industry. Mr. Martin was elected Chairman and Chief Executive Officer of ALICO and Chief Operating Officer of AIG`s Worldwide Life Insurance in 2006, and AIG Executive Vice President Life Insurance in 2002. Prior to that, Mr. Martin had served as President and Chief Executive Officer of AIG American General following AIG`s acquisition of American General Corporation in 2001 and as Senior Vice Chairman, Financial Services, responsible for American General`s life insurance and consumer lending operation. He joined American General as President in 1995 after spending 20 years in the life insurance business. Mark Wilson, currently President and COO, AIA, has been named President and Chief Executive Officer of AIA, also effective upon Mr. Tse`s retirement. He will report to Mr. Martin. Both Mr. Martin`s and Mr. Wilson`s appointments are subject to regulatory approval. AIG`s domestic life and retirement businesses will continue under the leadership of AIG Senior Vice President, Life Insurance, Matthew Winter, and AIG Executive Vice President, Retirement Services, Inc. Jay S. Wintrob. Mr. Winter and Mr. Wintrob will continue to report directly to Mr. Liddy. Commenting on the contributions made to AIG by Mr. Tse, AIG Chairman and CEO Liddy, said, "Edmund Tse`s leadership, wisdom and vision will be greatly missed. He has set an example of how change can represent opportunity, and I have personally appreciated his counsel. I am especially pleased he has agreed to continue serving AIG in non-executive roles with AIA, Nan Shan, and Philamlife. We are fortunate to have Rod Martin and the rest of the experienced leadership team in life and retirement services to carry on the tradition of success established by Edmund." American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. American International Group, Inc. Media Relations: Christina Pretto, 212-770-7085 or Investor Relations: Teri Watson, 212-770-3067 Copyright Business Wire 2009
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