Ratings Upgrade Signals Commitment to Asia Region

HONG KONG--(BUSINESS WIRE)--AIG United Guaranty Insurance (Asia) Limited (AIG United Guaranty) announced today a Standard & Poor's financial strength rating upgrade from 'A-' to 'A' with an outlook of stable as of September 19, 2011. With the ratings upgrade, AIG United Guaranty is once again eligible to provide mortgage insurance to lenders in Hong Kong. AIG United Guaranty is a subsidiary of United Guaranty Corporation (UGC), the mortgage insurance unit of American International Group, Inc. (AIG).

"We are extremely pleased with the rating upgrade, and we are committed to contributing product innovations, solid risk management, and enterprise strength to help build a sustainable mortgage system worldwide," said UGC CEO Eric Martinez. "Our talented and experienced staff has remained dedicated to the operations in Hong Kong, and we are very pleased to begin writing new business again in this market."

AIG United Guaranty began providing mortgage insurance coverage in Hong Kong in 1999. First established as a branch office, AIG United Guaranty was converted to a full operating subsidiary in 2007 with offices in Hong Kong, Seoul, and Tokyo. A worldwide leader in mortgage insurance, UGC began its regional expansion with a long-term reinsurance agreement (1999 to 2008) with the Hong Kong Mortgage Corporation (HKMC), a government entity created to support the Hong Kong residential mortgage market.

"We are proud to play such a significant role in supporting the mortgage market in Hong Kong," said Tak Ming Chung, AIG United Guaranty CEO and Country Manager, Hong Kong. "Our vast underwriting experience and innovative insurance solutions for high-loan-to-value loans play an important role in promoting home ownership. We will continue to provide best-in-class service and offer the flexibility and efficient service our customers require."

About AIG United Guaranty Asia

AIG United Guaranty Insurance (Asia) Limited, a subsidiary of United Guaranty Corporation, provides innovative, quality risk solutions that help mortgage lenders remain competitive while generating a profitable and responsible book of business for their stakeholders. United Guaranty Corporation and its subsidiaries provide first-lien private mortgage insurance - most notably Performance Premium in the United States, an industry-leading risk-based pricing option - and compliance review services. Among United Guaranty's suite of loan analysis and risk management tools are indices that measure loan risk and geographic quality. United Guaranty was established in Greensboro, North Carolina, in 1963 and has been a company of American International Group, Inc. (AIG) since 1981. The company's international locations include operations in Hong Kong, Seoul, Tokyo, Sydney, London, Madrid, Milan, Budapest, and Mexico City.

About AIG

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

Contacts

AIG United Guaranty
Liz Urquhart, +1-336-333-0461
or
Tak Ming Chung, +852-3405-6600