American International Group (AIG) has declared Eric Martinez, Jr., as the new Chief Executive Officer of United Guaranty Corporation (UGC).

Mr. Martinez holds an MBA degree from Valdosta State University, Georgia, and has worked with AIG since January 2009 in different positions, as well as played a leading role at AIG Global Real Estate. Mr. Martinez effectively negotiated the sale of AIG’s prime real estate holding for approximately $1.2 billion in the Otemachi District of Tokyo, Japan.

Paula Rosput Reynolds, Vice Chairman and Chief Restructuring Officer of AIG, said: “Eric is a very talented executive and well suited to the task ahead. He has successfully realigned organisations to meet new challenges and I am confident that he will make significant progress in setting a successful strategy for UGC.”

Mr. Martinez was Executive Vice President, maintaining Customer Care and Business Operations for Safeco Corporation, in Seattle, Washington. He thoroughly revamped his organisation at Safeco, achieving significant improvements in customer satisfaction and in employee productivity.

Previously, he served as Executive Vice President of Utility Operations for AGL Resources, based in Atlanta, Georgia.