AIG assigns Argentina staff to aid Athens
American International Group Inc has assigned staff from Argentina to advise their counterparts in Athens as the bailed-out insurer prepares for a possible Greek exit from the euro.
?Our Argentina team that has been successful before, during and after their currency crisis has been working with our team in Athens,? Peter Hancock, chief executive officer of the Chartis property casualty unit, told an investor conference in New York late on Thursday.
?We?ve been as ready as we can. The team in Argentina has been through a number of eruptions and has had to deal with situations of extreme uncertainty and capital flight that would be not unlike what AIG will be dealing with? if Greece leaves the euro, said Clark Troy, a consultant to insurers who?s based in Chapel Hill, North Carolina.
AIG is ?calling attention to the fact that they have been through this before,? he said. [Bloomberg]