AIG to relocate New York headquarters to midtown office space

[NEW YORK] American International Group will move its headquarters to 1271 Avenue of the Americas in New York City as the insurer reworks its real estate footprint.

The company will occupy eight floors of the building, AIG said Tuesday in a statement. It will also consolidate the rest of its New York metropolitan area office space into two locations at 28 Liberty Street in Manhattan and 30 Hudson Street in Jersey City, New Jersey.

Chief Executive Officer Brian Duperreault has been pushing to modernise the company through an initiative called AIG 200, which includes a re-evaluation of the insurer's real estate strategy. The company, which hired James Love to oversee its real estate operations last year, expects to move into the three offices next year.

"Our new midtown headquarters building is in close proximity to many of our clients, distribution partners and other stakeholders," Mr Duperreault said in the statement.

The current headquarters is at 175 Water Street.

BLOOMBERG

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