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Bangalore, Sept. 10

AIG’s proposal for setting up a mortgage guarantee company in India is awaiting Government and regulatory clearance. Speaking at a CII conference here on Wednesday, the Vice-Chairman of AIG’s and the former US Ambassador to India, Mr Frank B. Wisner, said, “This is in addition to AIG’s 11 businesses already operating in the country. AIG currently has interests in life insurance, property insurance, asset management, real estate and technology sector s.” Mr Wisner said despite the uptrend in Indo-US relations, “it is a roller-coaster ride. Partnerships will take at least 15 years to build.”

— Our Bureau

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