AIG pulling out of Lithua­nia

The Baltic Times - - BALTICS NEWS - BNS/TBT Staff

Amer­i­can In­ter­na­tional Group (AIG), one of the world's big­gest in­sur­ance com­pa­nies, is mov­ing its ser­vice cen­ter op­er­a­tions out of Vil­nius. It is the first ser­vices cen­ter of a for­eign com­pany to an­nounce its in­ten­tion to dis­con­tinue op­er­a­tions in Lithua­nia.

The com­pany has an­nounced its de­ci­sion to close the Vil­nius ser­vices cen­ter, which cur­rently em­ploys around 200 peo­ple, with its op­er­a­tions to be re­lo­cated to other coun­tries of the AIG net­work by March 2018.

"The Vil­nius ser­vice cen­ter's op­er­a­tions have di­rectly con­trib­uted to AIG'S suc­cess in Europe. Our ex­pe­ri­ence of in­vest­ing in Lithua­nia, in the la­bor mar­ket of Vil­nius, was very pos­i­tive," Chris Newby, Chief Oper­at­ing Of­fi­cer at AIG Europe Lim­ited, said in a press re­lease.

AIG'S public re­la­tions rep­re­sen­ta­tive in Lithua­nia, Arunas Pemkus, said that all em­ploy­ees of the Vil­nius cen­ter would be of­fered other em­ploy­ment op­por­tu­ni­ties.

AIG opened its Vil­nius ser­vice cen­ter in April 2015 to ser­vice in­sur­ance poli­cies, man­age claims and over­see pay­outs. It was said then that the com­pany planned to cre­ate around 350 jobs in Lithua­nia.

Man­tas Kati­nas, Man­ag­ing Di­rec­tor at In­vest Lithua­nia, the govern­ment's for­eign in­vest­ment pro­mo­tion agency, says that AIG'S with­drawal from Lithua­nia is part of the com­pany's long-term busi­ness strat­egy and global re­struc­tur­ing to achieve op­er­a­tional ef­fi­ciency.

The soft drink gi­ant Co­cacola and the potato chips pro­ducer Estrella an­nounced the re­lo­ca­tion of op­er­a­tions from Lithua­nia last year.

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