AIG United Guaranty started its expansion into Asia with the launch of Hong Kong operations in 1999, as part of a long-term reinsurance agreement with the HKMC, a government entity created to support the residential mortgage market. Today, we provide a broad range of mortgage insurance and reinsurance products through our local subsidiary, AIG United Guaranty Insurance (Asia) Limited, which was formed to provide a superior platform for our regional expansion; we are actively developing new opportunities throughout Asia to offer insurance, reinsurance, and structured credit protection.

In 2005, we entered into the Memorandum of Understanding with Seoul Guarantee Insurance as a long-term and exclusive strategic partner in South Korea. The Korea Branch of AIG United Guaranty (Asia) Limited was established in 2007 and we received our final business license early in 2008. AIG United Guaranty’s Seoul office strives to provide lenders with quality credit risk default solutions in South Korea and monitors the developments in a mortgage market that has experienced exponential growth over the last five years. Together with AIG’s extensive Japanese operations, our Tokyo office focuses on developing Japan’s mortgage market, which is the largest in Asia and one of the largest in the world.