AIG News

2 AIG Subsidiaries File to Redomesticate From Pennsylvania to Illinois

Two subsidiaries of the American International Group — Granite State Insurance Company and New Hampshire Insurance Company — recently filed for approval a plan of redomestication that would change their state of domicile from Pennsylvania to Illinois. The two companies …

Cross-Sector Global Coalition Formed, Aiming to Cut Road Traffic Deaths

Ten major global companies have created “Together for Safer Roads,” a cross-sector coalition focused on improving road safety and reducing deaths and injuries by road traffic collisions around the world. The founding members are: Anheuser-Busch InBev, American International Group, AT&T, …

CorPro, AIG Offer Management Liability Products for Small, Mid-Sized Firms

CorPro Underwriting Managers will now offer directors and officers, employment practices, fiduciary and crime insurance coverage to small and mid-sized enterprises through its partnership with subsidiaries of American International Group Inc. This partnership provides a single point of entry exclusively …

AIG to Close Georgia Shared Service Center; Closure to Affect 420 Workers

American International Group Inc. said the company plans to close its Shared Service Center located in Alpharetta, Georgia next year. The move is expected to affect approximately 420 employees, AIG told Insurance Journal. “The closure of the Shared Service Center …

AIG Q3 Net Income Rises 1% to $2.19B, More Share Buybacks Planned

Insurer American International Group on Monday reported better-than-expected third quarter earnings, bolstered in part by improved performance at core insurance operations. After-tax operating income jumped 23 percent from a year earlier. Chief Executive Officer Peter Hancock said the company remains …

AIG Pays $35M Penalty to Resolve Probe of Units Sold to MetLife

American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units. The subsidiaries, American Life Insurance Co. and Delaware American Life Insurance Co., solicited business in …

AIG Offers Loss Control for Corporate Aerospace Customers

American International Group Inc. (AIG) has partnered with Wyvern Consulting, an aviation risk management and safety auditing firm, to launch AirGuard safety and loss control services designed to address safety and regulatory risks faced by corporate flight departments, commercial air …

P/C Insurers Rush to Meet Rising Demand for Cyber Insurance

Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about …

AIG Names Fasano to New Chief Information Officer Post

American International Group Inc. has named Philip Fasano to the newly-created role of executive vice president and chief information officer. Fasano will be responsible for oversight of the company’s global information technology, including reviewing and updating technology systems and platforms, …

AIG’s Expanded Operations Will Create 300 Jobs in Kansas

American International Group Inc. held a grand opening Tuesday to celebrate its expansion in Olathe, Kan., which will bring 300 new jobs to the state by the end of 2015. Gov. Sam Brownback and AIG President and CEI Peter Hancock …