AIG eyes new business avenues in India

Kolkata: AIG Global Investment Group has identified new business avenues in India after establishing its footprint in the areas of life and non-life insurance, retail, private equity and real estate sectors.

The business areas, which the company had identified are distressed asset management, mortgage guarantee and core sector investments, AIG India country head and CEO Sunil Mehta told reporters here today.

He said AIG had also ventured into consumer finance for selling products like home loans, auto loans and consumer durable loans.

Mehta said in the field of consumer finance, AIG had acquired a south-based company for carrying out the business.

He added in the field of mortgage guarantee, the company would take steps to form a legal entity according to the RBI guidelines.

As part of its latest venture in the field of mutual funds AIG launched its maiden product, AIG India Equity Fund, for which the company had floated AIG Global Asset Management Company (India) Pvt Ltd.

The India fund would be linked to the global fund management team through the technology platform system called Equity Platform for Investment Communication.