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at a location that serves as the cornerstone of the town’s central commercial center on the west side.
“I’m overjoyed that AIG is funding the renovation of 2 Post Road .
Westport First described the skyscraper as stunning, with an amazing view of downtown and the Saugatuck River.
WESTPORT: One of the biggest insurance firms in the world is proceeding with the restoration of a local monument, which will serve as the company’s new headquarters.
AIG is renovating 2 Post Road W., a Saugatuck River structure that is part of the National Hall complex.
Town officials are optimistic about the company’s arrival’s influence. In an email, selectwoman Jennifer Tooker stated.
“During the construction, I have been in occasional communication with them.
The improvements they are doing are substantial and will improve that riverfront area considerably.
The degree of the modifications being performed is demonstrated by the scaffolding on the three-story brick Italianate building and the smaller building next door at 8 Post Road W.
Additionally, fencing surrounds the property’s entrance.
According to the Vision Appraisal database, AIG purchased 2 Post Road W. and 8 Post Road W. in February for a total of $19.25 million to support its objectives.
AIG declined to comment through a representative on the reasons behind the Westport expansion or the anticipated opening date of its National Hall headquarters.
Regarding the number of employees stationed at its premises in Wilton Corporate Park, at 50 Danbury Road, the corporation likewise declined to say.
After the hub at National Hall opens, its Wilton offices will stay open.
The building where AIG will have its new headquarters has had a diverse range of tenants since the building’s establishment in the latter half of the 1800s. In addition to housing offices during the last few decades, 2 Post Road W.
has also functioned as a venue for restaurants and a boutique hotel.
There are numerous more structures in the National Hall complex, which is included in the National Register of Historic Places.
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In addition to other tenants including the restaurants Bar Taco and Ok, as well as the furnishings store L’Antiquaire, they together contain offices for a number of businesses.
AIG bills itself as “one of the world’s most far-reaching property-casualty networks” on its website and has its headquarters at 1271 Avenue of the Americas in Manhattan. More than 25,000 workers operate there, offering services in almost 190 countries.
The corporation brought in roughly $47 billion in revenue the previous year.
The company placed No. 94 on this year’s Fortune 500 list of the biggest U.S. corporations based on their revenues.
We continued our multi-year journey to become a top-performing global insurance company last year, driving improved underwriting profitability, fortifying our balance sheet, and returning capital to shareholders, all while accelerating our progress on a number of critical initiatives,” said Peter Zaffino, CEO and chairman of AIG.
said in a letter to shareholders that was part of the business’s annual report for 2023.
Even if AIG’s finances seem to be in order now, a lot of people still remember it for its major contribution to the 2008 financial crisis.
After placing large wagers on mortgage securities that went bad, the company collapsed.
The corporation has now reimbursed the government for its intervention, which included a rescue package that ultimately totaled over $180 billion.
Building : Insurance 2024 Major Westport AIG Now
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