American International Group Inc. (NYSE: AIG) has bought out its partner in AIG Insurance Company Israel Ltd., Aurec Gold Investments Ltd., and appointed a new general manager for AIG Israel, Shay Feldman, whose appointment was first reported by "Globes". Aurec owned 49.99% of AIG Israel.
Feldman will succeed Hava Friedman-Shapira, who is leaving after 11 years in the post. Feldman will take up his post on April 1. He previously served as AIG Israel VP marketing and subsequently held several positions at AIG Inc. He started out as a telephone sales rep at AIG Israel, and moved up to advertising manager. He later served as AIG Israel manager of accident & health and marketing and sales.
"Our decision to acquire the remaining interest in AIG Israel represents an excellent opportunity to increase our presence in Israel, as well as to further integrate an important operation as part of our global platform," said AIG EMEA president and CEO Rob Schimek. "This transaction will enable us to continue to strengthen our market position in a country that is a core component of AIG`s business in the EMEA region."
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