AIG Global ups political risk insurance capacity

By Associated Press
July 22, 2008 | Comments (0)

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AIG Global Trade & Political Risk Insurance Co., a unit of American International Group Inc., said Tuesday it has increased its capacity to support political risk insurance policies of up to $120 million, up from $100 million per risk.

The increased capacity is also available in foreign currencies, the company said.

Additionally, AIG Global raised per buyer capacity of its trade credit insurance policies to $95 million from $75 million.

AIG Global's political risk insurance covers a range of political risks that can affect foreign direct investments and assets, project finance, export or import transactions, or cross-border financing, while trade credit insurance covers both export and domestic credit risks.

AIG shares fell 5 cents to $26.48 in midday trading.

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