The American International Group (AIG) has aided many companies which are today changing the local business scene, three of which are IPC Re, Starr Excess and Bermuda Commodities Exchange. IPC Re is today flourishing thanks to the founding sponsorship of AIG. "AIG provides services in the form of investment management services and administrative services,'' explained the company's president and CEO, John Dowling who took on the position in February of 1994. "AIG put together a number of private investors with $300 million of paid-in capital and we started trading July 1, 1993. At that stage, AIG had 24 percent of the capital. "The company was founded to write predominantly, property catastrophe re-insurance with a minor emphasis on short tail property classes. The company ultimately went public in March of 1996 and, at that stage AIG maintained the same percentage share of 24 percent.'' According to Clinton Greene, Starr Excess' senior vice president in charge of marketing, AIG helped his company in a similar manner. "Starr Excess was formed in June of 1993 and is owned by a number of US and other financial institutions of which AIG is the largest stockholder with 24 percent. Our business is to write excess liability direction and officers, professional liability and employment practice liability and we provide limits up to $150 million excess of a minimum of $25 million. "We have offices here in Bermuda with 23 employees and a service company in London. We can say that we get very good support from AIG based on their longevity and knowledge of the insurance world. With their help, we have been able to write $100 million in premiums and have been very successful'' President and CEO of Bermuda Commodities Exchange, Tom Heise, was equally as complimentary of AIG. "First, I'd like to congratulate AIG on their 50 years in Bermuda,'' he said. "Their support has laid a wonderful foundation for Bermuda Commodities Exchange. AIG has a multi-faceted involvement with us and without it, Bermuda Commodities Exchange would not exist.'' PHOTO AIG executives Joe Johnson (centre), Maurice Greenberg (right), and Ernest Stempel in the company's newly renovated building Tom Heise of Bermuda Commodities Exchange John Dowling of International Property Catastrophe Reinsurance Company Starr Excess' Clinton Greene