What units of insurance makes up Chartis, the latest for sale by AIG?
NEW YORK (CNNMoney.com) — Maybe AIU sounded too much like AIG. Bailed out insurer AIG on Monday said it would go forward with its previously announced plan to spin off its property-casualty insurance business long known as AIU. The name of the new company is Chartis, AIG disclosed Monday. Chartis, though officially separated from AIG, remains 100% owned by the embattled company. Kristian Moor, a former AIG executive vice president who headed the property-casualty group, was named Chartis’ chief executive officer. According to the company, the Chartis name derives from the Greek word for map, underscoring “the franchise’s disciplined-yet-flexible approach to navigating changing marketplaces and complex risks worldwide.” According to AIG (AIG, Fortune 500) spokeswoman Christina Pretto, AIG is positioning Chartis to be more independent down the road. AIG is working to assemble an independent board and, perhaps, eventually an initial public offering, she said. AIG is expected to use the p
