Contrary to headlines in the media, AIG is not changing
its name to AIU. On March 2, the troubled company formed a holding company for
its property casualty companies and is considering calling that American
International Underwriters. The reason? John Jones, a rep for what is now
tentatively known as AIU said those units are not receiving TARP money and are
in comparatively good shape. But AIU is not necessarily the name that the
company will stick with, Jones said. The company is conducting a brand review
to see how consumers warm to the new moniker. "AIU Holdings plans to
develop a 'go-to-market' name that reflects the financial strength
and security that the insurance companies provide business and individual
customers worldwide," the company wrote in a statement. "A new,
effective brand for these businesses can increase their value for policyholders
and the American taxpayer." Meanwhile, the Peter Group, Philadelphia,
handles AIG's advertising account. Neither AIG nor AIU are planning any ads in
the near future, Jones said.
—Posted by Todd Wasserman
