Bates David Enterprise gets AIG account

MUMBAI: Following a multi-agency pitch, American International Group (AIG) has awarded the creative duties of its group companies to Bates David Enterprise.

The agency has been associated with Tata AIG insurance business. However, this is the first time that AIG will be launching a separate corporate campaign in India. Industry sources reveal that Madison has been selected as the media AOR and the size of the business is upwards of Rs 25 crore. It is also learnt that six agencies were in the fray.

The new campaign will release by the end of this month through different media vehicles like television, print and out-of-home. Globally, AIG has presence in 130 countries and manages about $ 900 billion assets. In 2006, the net income of AIG was $ 14.5 billion.

Sunil Mehta, country head and CEO, AIG, said, “We have eight lines of businesses in India, which we have build over seven years. They are private equity, life insurance, general insurance, asset management, real estate development, software development and maintenance. Going forward, we will now get into new businesses like infrastructure, mortgage guarantee and capital recovery. We have invested about $ 450 million in developing our private equity business.”