AIG Signs JV Agreement with People's Insurance Company China

American International Group, Inc.

, People's Insurance Company (Group) of China (“PICC”) and PICC Life Insurance Company Limited (“PICC Life”) announced today that they have entered into a joint venture agreement to form an agency distribution company in China. In December 2012, AIG invested US$500 million as the largest cornerstone investor in the PICC initial public offering. In connection with this investment, PICC Life and AIG agreed to form this joint venture agency distribution company. Products under consideration to be distributed by the joint venture company include jointly developed life and retirement insurance products, existing PICC life products, PICC Property & Casualty (P&C) insurance products, AIG P&C products, as well as other