Case of mistaken identity for IAG
IAG has moved to assure investors and clients the insurer remains in strong financial health in the wake of the AIG crisis.
Public relations staff sent out the standard statement declaring “no material exposure” but were also forced to clear up exactly who was borrowing $US85 billion from American taxpayers.
In a statement, IAG says “some media coverage of issues associated with insurer AIG has incorrectly named the organisation concerned as IAG. IAG is not related to AIG and has no material exposure to it.”
A spokesman for the company said the confusion was genuine and had no commercial impact on the company.
Public relations staff sent out the standard statement declaring “no material exposure” but were also forced to clear up exactly who was borrowing $US85 billion from American taxpayers.
In a statement, IAG says “some media coverage of issues associated with insurer AIG has incorrectly named the organisation concerned as IAG. IAG is not related to AIG and has no material exposure to it.”
A spokesman for the company said the confusion was genuine and had no commercial impact on the company.