Despite having an uncertain future at its US operations, AIG?s India operations in India have remained calm and it is ?business as usual? here. AIG has multiple business exposures in India including insurance, mutual fund, private equity, consumer finance and even real estate, Aircraft leasing and AIG Mortgage Guarantee, AIG holds 26% each in two of its insurance joint ventures- Tata AIG Life and Tata AIG General Insurance.
One of the first entrants in the insurance business, when it was opened up, the insurance multinational has over 11,000 employees in India, say sources. ?All the business activities have sound financials and our investments in real estate and private equity have remained strong. We are also watching the developments in US,? said a member of the senior management at AIG’s India operation.
However, AIG’s total investment in India is not immediately available. After getting a foothold in the insurance business, AIG also launched its asset management business in India under the aegis of AIG Global Investment Group Mutual Fund ,and as of August 2008, had around 3,439.37 crore worth assets under its management.