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AIG to take over Ahico's business

Paris-based AIG Europe SA has founded a branch in Budapest called AIG Hungary, which is set to take over Ahico Insurance Rt's non-life insurance functions, daily Világgazdaság reported. The newly established division will operate under the name AIG Hungary, while Ahico's life insurance and related services will still be provided by Ahico under the name Ahico AIG Life. The restructuring basically represents an administrative step in the company's life and will have no significant effect on the operations. All clients will notice is the name change, András Molnár, branch CEO told Világgazdaság.