AIG News

Viewpoint: Systemically Risky Insurers Merit More Oversight But Not Bank Rules

Could Warren Buffett’s Berkshire Hathaway Inc. threaten the stability of the financial system? The U.S.’s top regulators are asking themselves this question as they consider whether Berkshire and other large insurers should come under Federal Reserve oversight. The answer is …

How Insurers Would Wind Down If Needed to Avoid Future Bailout

American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in 2012, and Prudential, which …

AIG Responds to Supreme Court ‘Fraud on the Market’ Ruling with D&O Endorsement

American International Group, Inc. (AIG) insurers have introduced a new policy endorsement that ensures primary directors and officers (D&O) policy funds are immediately available to clients named as defendants in securities lawsuits for the preparation of “event studies.” The endorsement …

AIG Launches Global Commercial Property Coverage for Mid-Market

The American International Group, Inc. (AIG) insurers have launched a new line of multinational commercial property products and services, including expanded coverage, loss prevention engineering, and risk management solutions, for mid-sized businesses confronting global risk exposures. AIG’s Property Performance Series …

New York AG Says AIG’s Lawsuit Is Bid to Hobble Unlicensed Sales Probe

New York Attorney General Eric Schneiderman asked a judge to dismiss American International Group Inc.’s lawsuit against the state’s top financial regulator, saying the insurer is trying to interfere with a probe of unlicensed overseas insurance sales. “The investigation of …

AIG Completes $7.6 Billion ILFC Sale to AerCap

AerCap Holdings NV completed its $7.6 billion purchase of International Lease Finance Corp., creating the largest independent jet-leasing firm and a windfall for seller American International Group Inc. ILFC, which pioneered the aircraft-leasing business under founder Steven Udvar-Hazy, is the …

AIG, Prudential Financial on Federal Reserve’s List of 15 Firms for Extra Supervision

The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan Chase & Co. and Bank of America Corp. The tally published on the Fed’s website today …

Town of Greenwich, Conn., Reaches $2.4M Storm Settlement With AIG

The town of Greenwich in Connecticut has reached a $2.4 million settlement with its insurance company to cover damage to municipal buildings and other property by Superstorm Sandy in October, 2012. The Greenwich Time reports the settlement with insurer AIG …

AIG Expands Cyber Coverage to Include Physical Risks from Cyber Events

AIG has expanded its cyber insurance offering to include property damage and bodily injury exposures. This new cyber offering provides commercial customers a way to manage physical risks to their operations from cyber attacks and cyber security failures. AIG’s expanded …

N.Y. Regulator Lawsky Sued by AIG Over Probe Into Unlicensed Insurance

American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be unconstitutional. AIG, criticizing what it called a “flawed and unconstitutional” interpretation …