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Profile on American Home Assurance
Company (AHAC)
In November 1969 American International Group (AIG)
commenced general insurance operations in Jamaica using
American International Underwriters (AIU) as agents
for the Firemen’s Insurance Company. By 1970 AIU
(Jamaica) ceased to represent the Firemen’s Insurance
Company and, with a staff complement of six, commenced
underwriting business as agents for American Home Assurance
Company of New York. In1974 the Agency applied for,
and received its license to sell all lines of business
with the exception of life. By1989 the AIU (Jamaica)
Agency was made defunct and American Home Assurance
assumed full responsibility for underwriting its own
business in Jamaica as a Branch office.
American Home Assurance Company, Jamaica branch is a
subsidiary of AIG, a Fortune 500 company, internationally
renowned for its significant presence in the commercial
and industrial risk segments of the insurance market.
AIG is a financially viable company with profits of
US$20.1 billion at the end of 2001.
From a fledgling company in the seventies, American
Home Assurance Company has emerged as a force to be
reckoned with in the local market. The companyís
competitive strength is its pure underwriting skills,
which has contributed, in no small way, to the company
consistently being the most profitable in the market.
In 2001 its premium income was over $1billion. At one
time or another, American Home has carried the most
prestigious risks in the island and currently is the
lead property, accident & health and casualty underwriters
in the market.
In the world of personal finance, the prudent customer
knows that one of the first questions to be asked is:
“how solid is my service provider?” When
the service provider is American Home the customer can
be assured that behind its quiet unassuming exterior
stands a long respected company that is financially
sound. It can proudly state, that to date, its payment
of US12.4M to Half Moon Hotel in March 1997, is the
largest fire insurance claim settlement ever paid in
Jamaica.
American Home Assurance Company has contributed to the
growth and sophistication of the market place by the
provision of innovative insurance coverage for various
groups viz. retailers, hotels, condominiums and offices.
Most noteworthy has been the introduction of financial
lines policies such as “Bankers Blanket Bond”
and “Professional Liabilities” as well as
package policies like HAPI, CAPP and CHA…
The company has benefited from its strong support of
the local brokerage houses and as a result today approximately
96% of its business comes through these intermediaries.
American Home is proud to have produced its own local
Chief Executive Officers - David Hargreaves 1971-1982,
Raymond Mair 1983-1998 and presently Earl Codling who
commenced leading the company in 1998. The company looks
forward to a future as bright as the past under his
outstanding leadership.
The success of the company is largely due to small but
competent and highly committed staff led by a dynamic
and creative Management Team. The maintenance of the
company’s core values is seen as an integral part
of the company’s success. These values are:
- Delivery of the highest quality customer service
- Profitability while practicing ethical business
always
- Maintenance of a highly skilled and motivated workforce
25 Dominica Dr., Kingston 5, Tel: 926-2074
Email AHAC: Earl Codling; , earl.codling@aig.com
Visit AHAC website: www.aig.com
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