WORRIED policyholders terminated some 2,000 policies with AIA Singapore in the last few days despite a US government bailout of its parent company, global insurance giant American International Group (AIG).
This worked out to be less than 0.1 per cent of the 2 million plus AIA policies here, said American International Assurance Company, a wholly-owned subsidiary of insurance giant AIG.
On Thursday, the Singapore AIA office swung into full damage control mode, taking out full-page ads in local newspapers to reassure its policyholders that it has 'more than sufficient capital and reserves to meet all obligations.'
