AIG Insurance

AIG’s social commitment gets a thorough test in times of calamities anywhere on earth.  The company has set up the AIG Disaster Relief Fund (”DRF”) as a global charitable organization engaged in a wide range of philanthropic efforts that include providing relief to victims of manmade and natural disasters and emergencies around the world. The DRF is funded by direct contributions from AIG employees that are matched by the company dollar for dollar. Together, AIG and its employees contributed well over $10 million in 2005-2006, apart from giving volunteer hours during relief operations as well as long-term rebuilding engagements to disaster-stricken communities. The DRF is based in New York as a non-profit charitable organization 

The Indian Ocean Tsunami
  On December 26, 2004, a devastating tsunami resulting from a magnitude 9.3 earthquake under the Indian Ocean devastated communities and obliterated livelihoods along the Indian Ocean coasts.  AIG and its employees through the DRF, partnered with Give2Asia and local organizations to respond immediately with emergency relief supplies.  Infrastructure restoration came later with about $4.1 million in total contributions.

Some AIG DRF highlights: 

• The DRF provided $500,000 to reconstruct Penayong Market in Banda Aceh, Indonesia, the largest fresh food and fish marketplace in the country..
• In Aceh Itara, small fish ponds reaching 60,000 hectares were obliterated. The DRF together with local charities are training farmers and creating sustainable income sources in the community.
• On Sarai Island, Thailand, the DRF have enabled villagers to build a community center and a new emergency shelter.
• In Krabi, Thailand, the DRF is providing technical support, financial assistance, and legal aid for individuals and communities undertaking land disputes that arose after the Tsunami.
• The DRF has assisted to build about 100 new homes in Tamil Nadu on India’s southeast coast.
  

Devastation in Indonesia
  During the May 2006 earthquake that hit Yogya, Indonesia, AIG doled out $1 million to provide relief efforts in regions where AIG Companies have any marketing or business presence. AIG directed DRF funds to Indonesian charities that delivered the monetary assistance effectively.

 South Asian Earthquake
  On October 8, 2005, an earthquake destroyed parts of Northern India and Pakistan as well as surrounding Southern Afghanistan, killing 73,000 people, injuring about 70,000 more and leaving about 3.5 million people homeless. The DRF contributed $1.3 in support of relief efforts, working with the International Organization for Migration (IOM) and the International Rescue Committee to deliver food, shelter, medicines and materials to rebuild houses for displaced persons.  

Hurricane Katrina
When Hurricane Katrina struck the U.S. Gulf Coast in late August 2005 causing unprecedented destruction to the coastlines of Alabama, Louisiana, and Mississippi, the DRF immediately responded with more than $3 million in contributions that were directed to local emergency funds and charities for Katrina relief efforts. 

Some highlights:

• AIG’s Domestic Brokerage Group initiated the “Assist-a Family” to help colleagues affected by Hurricane Katrina. 43 employees and their families have received employee-donated assistance. 
• AIG American General and the AIG Retirement Services provided relief assistance to displaced Hurricane Katrina victims. Houston-based AIG employees volunteered to assist Astrodome evacuees.
• AIG sent two truckloads of warehoused office furniture to the Mississippi Small Business Chamber of Commerce and to displaced business people in Louisiana.

AIG assisted its own displaced employees by relocating them in companies near their new homes.   GP