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TORONTO — AIG United Guaranty,1 whose affiliate companies provide mortgage guaranty insurance designed to increase home ownership, has announced that Mary Putnam will serve as director of sales for the Ontario region for AIG United Guaranty Canada. Pending regulatory approvals, AIG United Guaranty Canada anticipates initiating service during the second half of 2006 The new office will offer Canadian consumers additional choice by providing mortgage default insurance products for consumers, mortgage brokers, financial institutions, and secondary capital markets. According to Andy Charles, who will serve as president and CEO of Canadian operations, "Mary’s sales leadership experience within the financial services industry makes her a valuable addition to our new Canadian mortgage insurance company. She brings the drive, passion, and entrepreneurial flair that will help us build a successful and service-oriented business development team in Ontario." With more than 20 years of mortgage industry experience, Putnam has held senior-level management positions with Meridian Credit Union (formerly HEPCOE Credit Union and Niagara Credit Union, which merged on April 1, 2005) and was most recently assistant vice president of branch services. She is a graduate of the Queen’s University Executive Program and holds a Certified Financial Planner designation. The mortgage insurance subsidiaries of AIG United Guaranty provide mortgage guaranty insurance service to financial institutions worldwide, helping to minimize reliance on government fiscal support through private-sector risk management. Mortgage insurance coverage on low-down-payment loans protects a lender against losses due to homeowner default. Home ownership studies show that loans with limited down payments have an increased likelihood of default, particularly in periods of severe or prolonged economic distress. About AIG United Guaranty United Guaranty Corporation (AIG United Guaranty) and its subsidiaries are member companies of American International Group, Inc. (AIG). The company has been headquartered in Greensboro, North Carolina, since it was established in 1963. Subsidiaries of AIG United Guaranty provide mortgage guaranty insurance for first and second mortgages that protects against mortgage credit losses. In addition, AIG United Guaranty’s comprehensive range of financial products and services to lenders and investors includes mortgage fraud recovery services and student loan default insurance. AIG United Guaranty’s international locations include offices in Jerusalem, Hong Kong, Taipei, Tokyo, Beijing, Seoul, London, Dublin, Milan, Madrid, Budapest, Mexico City, Toronto, and Sydney. About AIG American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG’s common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. AIG United Guaranty media releases may be viewed on our Web site at www.ugcorp.com. 1 AIG United Guaranty is a marketing term for United Guaranty Corporation and its subsidiaries. |