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AIG dishes on lifestyles of the rich and insured

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AIG dishes on lifestyles of the rich and insured

Roughly 5% of Americans have a household income of $250,000 a year — but what’s the story behind those whose personal property insurance premiums alone exceed that very amount? 

American International Group Inc. calls them the ultra-high net worth clients and on Thursday released a study of what this elite group does with its money.

According to the report, each of these households owns an average of nine houses overseas, 19 regular-use cars, $1.7 million in insured jewelry, and $19.6 million in fine art. 

The study found that most clients own multiple homes in Mexico, the Bahamas, England, France and the Caribbean, with more than half of the homes located in the Americas.

The study was conducted by AIG Private Client Group, an AIG division that handles clients who pay in excess of $250,000 in annual personal insurance premiums, the insurer said in a statement.