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AIG Announces Launch of Consent Solicitation Relating to the 8.875% Senior Notes Due 2040 of Validus Holdings, Ltd.

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American International Group, Inc. (NYSE:AIG) announced today the
commencement of a consent solicitation (the "Consent Solicitation") with
respect to the $250.0 million aggregate principal amount of outstanding
8.875% Senior Notes due 2040 (the "Notes") issued by its wholly-owned
subsidiary Validus Holdings, Ltd. ("Validus"), seeking the consents
("Consents") of at least a majority of the aggregate principal amount of
all outstanding Notes (the "Requisite Consents") to modify or remove
certain of the covenants applicable to the Notes contained in the
indenture governing the Notes (the "Indenture") in order to conform the
Indenture more closely to the operative covenants in the agreements
governing AIG's existing indebtedness (the "Proposed Amendment"),
subject to the terms and conditions described in the consent
solicitation statement, dated as of July 27, 2018 (as may be amended or
supplemented from time to time, the "Consent Solicitation Statement").
The Notes are subject to a full and unconditional guarantee by AIG
following the execution by AIG on July 26, 2018 of a guarantee agreement
with respect to Validus' obligations under the Indenture.

The Consent Solicitation will expire at 5:00 p.m., New York City time,
on August 6, 2018, unless extended or terminated (the "Expiration
Date"). AIG reserves the right to terminate or extend the Consent
Solicitation in its sole discretion.

On the terms and subject to the conditions set forth in the Consent
Solicitation Statement, if the Requisite Consents are received, Validus
will promptly pay an aggregate consent fee equal to $2.50 per $1,000
principal amount of Notes for which Consents are validly delivered and
not revoked on or before the Expiration Date and Validus will execute a
supplemental indenture effecting the Proposed Amendment (the
"Supplemental Indenture"). Once the Supplemental Indenture is effective,
any Consents given may not be revoked.

This press release is not a solicitation of Consents with respect to the
Notes and does not set forth all of the terms and conditions of the
Consent Solicitation. Holders of the Notes should carefully read the
Consent Solicitation Statement before any decision is made with respect
to the Consent Solicitation.

Any inquiries regarding the Consent Solicitation may be directed to
Global Bondholder Services Corporation, the Information and Tabulation
Agent for the Consent Solicitation, at (212) 430-3774 (for banks and
brokers) or (866) 807-2200 (toll free), or to the solicitation agent for
the Consent Solicitation: J.P. Morgan, at (212) 834-8553 (collect) or
(866) 834-4666 (toll free).

Certain statements in this press release, including those describing the
consent solicitation, constitute forward-looking statements. These
statements are not historical facts but instead represent only AIG's
belief regarding future events, many of which, by their nature, are
inherently uncertain and outside AIG's control. It is possible that
actual results will differ, possibly materially, from the anticipated
results indicated in these statements. Factors that could cause actual
results to differ, possibly materially, from those in the
forward-looking statements are discussed throughout AIG's periodic
filings with the SEC pursuant to the Securities Exchange Act of 1934.

American International Group, Inc. (AIG) is a leading global insurance
organization. Founded in 1919, today AIG member companies provide a wide
range of property casualty insurance, life insurance, retirement
products, and other financial services to customers in more than 80
countries and jurisdictions. These diverse offerings include products
and services that help business and individuals protect their assets,
manage risks and provide for retirement security. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock Exchange.

Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: www.twitter.com/AIGinsurance
| LinkedIn: http://www.linkedin.com/company/aig.
These references with additional information about AIG have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.

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