Friday, March 27, 2009

Memo from 21st Century (a division of AIG)

Dear 21st Century Insurance Policyholders:

On behalf of all the employees of 21st Century Insurance and Financial Services (21st Century Insurance), I first want to thank you for your continued loyalty and support during these challenging times.

I would like to take a moment to address some items that have undoubtedly created a level of uneasiness and frustration for many of our customers. Because of the tremendous support and cooperation from the United States government and its taxpayers, our parent company, AIG, has been able to continue its operations as a world-class provider of insurance services. However, with this support comes a high-level of attention to all of AIG's activities.

It is important to clarify that although the insurance companies affiliated with the 21st Century Insurance brand are subsidiaries of AIG, they have not accessed or needed any of the Federal Reserve borrowings to fund their operations. Nor have they received any capital contribution from any AIG company to support their operations. 21st Century Insurance is an organization of 6,500 employees whose mission is to deliver outstanding value and service for your auto insurance needs - a mission we are striving to achieve every day.

The insurance companies affiliated with 21st Century Insurance, which underwrite and provide coverage under your policies, are financially strong and continue to deliver outstanding coverage, service and payment of claims to all of our customers. The assets of the insurance companies are protected by state laws for the benefit of policyholders.

Additionally, AIG recently announced the formation of a general insurance holding company called AIU Holdings, Inc. This move will help enhance and protect the value of those property and casualty companies for all its stakeholders. The organization will include the Commercial Insurance Group, Foreign General unit, and other property and casualty groups. 21st Century Insurance will also be part of this new, separate organization.

We genuinely appreciate your business. At 21st Century Insurance, we are focused on putting you, the customer, first, and we look forward to providing you with the great coverage and award-winning service that you deserve.

Anthony J. DeSantis

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