AITE

AITE, officially AITE NV (acronym for Assurantiekantoor IJsbrand-Teugen & Evertsen), is a multinational financial services company headquartered in Artwingen, Lindenholt. Its most important operations include asset management and insurances. It ranks as one of the largest insurance companies in the world. In addition tothis, they own a large share in ACBL, one of Lindenholt's largest commercial banks.

History
AITE was founded in 1971 after a merger of two large Lindian insurance officers, Eversten Assuranties based in Dorningen and Van IJsbrand-Teug based in Artwingen. The merger came after the end of the pillarisation in Lindenholt, where society was split along religious and ideological lines. During it was customary for members of each pillar to receive their insurances from insurance agencies that corresponded (in name only) to their religion or political stance. Before the merger, IJsbrand-Teugen was considered and Evertsen Assuranties to be.

By the time of the merger, both Evertsen Assuranties and Van IJsbrand-Teugen had expanded their operations outside of Lindenholt. The two companies were represented in Capsland, Umbrellia, Ripuaria [...]. Evertsen Assuranties had also entered the [...] market while Van IJsbrand-Teugen was the sole Lindian insurer in [...]. Their pillarised affiliations were considered irrelevant outside of Lindenholt.

Over the course of the 1970's and 1980's, the company expanded further internationally, making large acquisitions in the process. Their market share in Lindenholt had also increased at this time, as the rising trend of suburban home ownership also increased the need for insurances. During the 1990's the company opened their first office on the Anetalian continent in [...], [...].

Under increasing pressure from the Lindian government, AITE was forced to sell 75% of their ACBL shares. Despite this, the 21st century saw the company's revenues expand significantly.

Controversies
Catergory:Insurance companies