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AIG realigns creative and media roster in Korea
by David Blecken
24-Nov-09, 12:57
SEOUL - AIG is believed to have restructured the creative agency roster for its casualty division in Korea, discarding Bates 141 and adding two domestic agencies.
It is understood that the roster, which is worth an estimated $15 million, will continue to include Hakuhodo Cheil and M-Hub, with the addition of Alchemedia and Phoenix Ad. Pheonix and Hakuhodo Cheil will handle creative duties for the brand, while Alchemedia and M-Hub will be responsible for media planning and buying.
The reasons behind the restructure are not known at this stage. The move follows AIG General Insurance’s re-branding as Chartis in Korea, the world’s seventh-largest insurance market, in September. AIG’s re-naming of its property-casualty division AIU as Chartis was completed in the US in July.
The company offers personal injury liability, workers’ compensation and property insurance services.
AIG General Insurance was the first foreign insurance firm to enter Korea, having established itself in the market in 1947. Last year, the US Government provided AIG with around $180 billion worth of aid after the firm lost close to $100 billion.
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