Nairobi — Two years after American multinational American International Group (AIG) Insurance unveiled the Chartis Insurance corporate identity, the company has reverted back to AIG Insurance.

The company announced at a Press Conference in Nairobi that it has reverted to AIG Insurance in view of improved trading environment and the focus it currently has on regional expansion.

AIG Kenya was forced to rebrand and change identity from the mother company which was then facing serious economic times during the 2009 economic downturn. This was meant to limit the level of risk for the local subsidiary just in case things completely did not work out for the mother company.

However, two years after the successful recovery plan aided by the American government which saw other seriously affected companies such as General Motors bailed out, the parent company is now back to profitability and taking up its subsidiaries globally.

According to Managing Director Japh Olende while addressing shareholders and other stakeholders in Nairobi, the company now has its sights set on an ambitious regional expansion programme to cement its footprint in the East African region.

"We are reverting back to our parent company's name and will henceforth trade as AIG Insurance Kenya. This turns a new leaf in our operations as we seek to embark on a regional expansion programme," said Olende.

Olende said among the priority countries where the company will open offices are Tanzania, Rwanda, Burundi and South Sudan. This will come immediately after the completion of the re-branding process.

According to records availed by the company, the US government bailed AIG Insurance out of recession with $180 billion which they repaid in a period of three years, including 16 per cent in interest rates.