American International Group, Inc. (AIG) today announced that Eric Martinez, Jr. has been named Chief Executive Officer of United Guaranty Corporation (UGC). UGC, based in Greensboro, North Carolina, is a leading provider of mortgage guaranty insurance.

Mr. Martinez succeeds William V. (Billy) Nutt, who has left the company.

Mr. Martinez has worked with AIG since January 2009 in a variety of positions, including a leadership role at AIG Global Real Estate. He successfully negotiated the sale of several properties, including the sale of AIG’s prime real estate holding in the Otemachi District of Tokyo, Japan for approximately $1.2 billion. For the past two months, he has led a comprehensive strategic review for UGC.

Paula Rosput Reynolds, Vice Chairman and Chief Restructuring Officer of AIG, said, “Eric is a very talented executive and well suited to the task ahead. He has successfully realigned organizations to meet new challenges and I am confident that he will make significant progress in setting a successful strategy for UGC.”

Prior to joining AIG, Mr. Martinez was Executive Vice President – Claims, Customer Care and Business Operations for Safeco Corporation, in Seattle, Washington. He thoroughly revamped his organization at Safeco, achieving significant improvements in customer satisfaction and in employee productivity.

Previously, he served as Executive Vice President of Utility Operations for AGL Resources, based in Atlanta, Georgia.

Mr. Martinez holds a bachelor’s degree in mechanical engineering from Clemson University, Clemson, South Carolina and a MBA from Valdosta State University, Valdosta, Georgia.

American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.