AIG owns several companies and one of them being American International Assurance (AIA). It is an insurance company based in Hong Kong and has offices in the Asia-Pacific region. One big question among several policyholders is if your monies safe with AIA. Some advices offered by an insurance veteran for Singaporeans policyholders is as below:
- AIA has a separate policyholder's fund covering its liability to its policyholders in Singapore.
- To my knowledge, this fund is solvent and is not affected by the problem faced by AIG
- There is no need to panic and surrender the AIA policies at this time
- Even if this fund is in trouble, there is a Policyholder's Guarantee Fund managed by MAS that can take care of most of the liability (maybe 90% or more).