AIU Holdings — the property and casualty special purpose vehicle created by AIG Inc — has been rebranded under the new name Chartis.
Kristian P. Moor will serve as its president and CEO, a Chartis release says. He previously served as executive vice president of AIG and president and CEO of AIG Property Casualty Group, which included responsibility for all of AIG’s commercial and personal lines property and casualty business in Canada and the United States.
Chartis, headquartered in New York, includes commercial insurance, foreign general insurance and private client group operations.
The move marks a step towards the operating independence of AIG.
Chartis’ combined statutory surplus was US$32.1 billion worldwide at year-end 2008. The entity has more than 40 million clients in more than 160 countries and jurisdictions.
The name Chartis is derived from the Greek word for map. Its logo, resembling a compass, is designed to be a symbol of the company’s “disciplined-yet-flexible approach to navigating changing marketplaces and complex risks worldwide.”