The American International Group has announced that Mark O'Dell, general manager of its Singapore subsidiary American International Assurance has resigned from the company.

American International Assurance (AIA) Singapore and the Monetary Authority of Singapore have announced that the company has sufficient capital and reserves in its funds, to meet customer claims.

The company has also announced that it will provide its customers, who have terminated their policies because of recent developments in the company, with two weeks of penalty-free period to reinstate them.

Mark Wilson, regional president of AIG Life Companies in Asia Pacific, said: His decision to leave the company is in no way related to the recent developments at AIG.