AIG Financial Advisor Services Inc., a subsidiary of American International Group (AIG), has opened its first representative office in the Middle East, aiming to supply investment products in the retail and corporate sector and regional support for investors. The opening of the office is part of AIG’s commitment to increase its presence in the Middle East.
AIG Financial Advisor Services Inc. offers equity funds including global, regional and country specific funds, and provides investment vehicles and funds to back up the insurance linked portfolio products promoted by its sister company American Life Insurance Company (ALICO). The new representative office, which is located on Dubai's Sheikh Zayed Road in Kendah House, will house the Middle East support and administration teams.
Anthony Ussher cited Dubai's status as an important financial center in the Middle East with the recent announcement of the Dubai International Financial Center, complemented by its well-developed communications and telecommunications infrastructure, as major advantages when choosing a Middle East presence.
There has been a growing demand in the Middle East for long-term investment products offering certain degree of security. This trend has been amplified by the recent events of 11 September 2001. Ussher explained: “Investors in the Middle East are attracted by investment products that offer long-term investment and the ability to generate stable returns, which provides the ideal opportunity for investors in the Middle East to invest in a variety of mutual funds products promoted by AIG Financial Advisor Services, Inc.”
AIG is a US-based international insurance and financial services provider and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world.
ALICO is a wholly owned subsidiary of AIG, which gained Moody's and Standard & Poor's AAA ratings. Through AIG, ALICO has operations in more than 130 countries, with dedicated offices in all six Gulf Cooperation Council (GCC) countries, Lebanon, Jordan, Egypt, Kenya, Turkey and in the sub-continent in Bangladesh, Pakistan, India and Nepal. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
