AIG Group Management Division, a unit of the life insurance subsidiaries of AIG, has launched its new group life insurance product package that will be offered to businesses located in 15 countries of the EU.

Administered and underwritten by AIG Life (Ireland), and managed by the AIG Global Benefits Network, the new employee benefit product suite aligns to the freedom to provide services provisions of the European Commission’s third life directive.

The company said that the new product provides benefits, which include: package of Pan-European group life and accidental death riders for corporations employing personnel in the European Union (EU) countries; ability to harmonize renewal dates and benefits structures of existing contracts and customer service teams in EU time zones, fluent in five core languages: English, French, German, Italian and Spanish.

Gustavo Covacevich, president of the AIG Group Management Division, said: Through a new group life product administered by a single AIG operation throughout the union, we are highlighting the power of one: one company, one policy, one contact for employees in Europe. This offering also reaffirms our commitment to provide our clients and their employees with comprehensive solutions that truly meet their needs.