Aig Partners With Blackrock

 Aig Partners With Blackrock

AIG Partners With BlackRock

AIG has partnered with asset manager BlackRock to manage some of its private-placement and fixed-income assets worth about $90 billion and $60 billion Life & Retirement and global investment portfolios respectively as well as provide an investment management technology platform named Aladdin.

Chief executive Peter Zaffino said getting into agreement with BlackRock means an extension of their strategy of working with international standard companies while delivering on excellence as it has a track record of outstanding performance and the Aladdin platform is known for world-class risk analytics. The global scale of BlackRock can act as a value creation opportunity for the stakeholders in the long run. It is one more milestone for AIG.

He added the partnership may create operating as well as strategic flexibility for the Life & Retirement portfolio as the company is repositioning the asset management. However, the implementation will be done in phases.

Rob Kapito, president of BlackRock, said they are honored that AIG has chosen them as an important partner and the company is looking forward to enhance the investment expertise as well as benefiting from the technology capabilities.

He further mentioned that they have good respect for the company and are confident to deliver value while embarking on the journey together.

About AIG

AIG is the acronym for American International Group, Inc. and it was founded in December 1919 by Comelius Vander Starr. It has operations across the world and the key people currently managing the group include executive chairman Brian Duperreault and CEO Peter Zaffino. It deals in general insurance, health insurance, vehicle insurance, travel insurance, home insurance, life insurance, mortgage loans, investment management and mutual fund products. It is headquartered in New York City, US.

The company has about 50,000 workforces in over eighty countries and jurisdictions. It serves 83 percent of the Forbes 2000 and 87 percent of the Fortune Global 500 companies. In 2018, it was placed at 60th position n the Fortune 500 list. The 2016 version of the Forbes Global 2000 list ranked it at 87th position as the world's largest public company.

About BlackRock

BlackRock was founded in 1988 by Robert S. Kapito, Larry Fink and Susan Wagner. It is a multinational investment management company and is currently tagged as the largest asset manager in the world. The key people managing it include CEO Larry Fink and president Robert S. Kapito. It has offices in thirty countries and manages clients in about 100 countries. It is headquartered in New York City, US.

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