American International Group (AIG) News

Global, Diversified Multiline Insurers Best Placed to Withstand Challenges: S&P

Global, diversified insurers are best positioned to withstand the industry’s top economic and competitive challenges, according to a report published by Standard & Poor’s Global Ratings. Geographic and product diversification help global multiline insurers (GMIs) cope with challenges such as …

Insurers Braced for Claims Surge as 10-Year High Floods Hit India

Insurers from Lombard General Insurance Co. to American International Group Inc. are bracing for a surge in Indian claims to a 10-year high after unprecedented floods last week ravaged Chennai, the city home to factories of Ford Motor Co. and …

Willis UK, AIG Launch Automatically Renewing Policy for Mid-Market

Willis Group Holdings and American International Group, Inc. have launched “Evergreen,” described as “an innovative, new approach to insurance that removes the need for annual policy renewal – the first UK mid-market offering with no renewal date that covers major …

Indonesia Shariah Insurance Growth Attracts AIG: Islamic Finance

Indonesia’s Islamic insurance industry is expanding three times as fast as Malaysia’s, prompting American International Group Inc. and Sun Life Financial Inc. to seek a broader presence in the nation. AIG is considering offering Shariah-compliant reinsurance, known as retakaful, in …

AIG Opens Four New Branches in Oman

American International Group announced the opening of four new branches in the Sultanate of Oman. They are to be located in Nizwa, Ibri, Salalah and Sur, and “will allow AIG to further expand its business in the Sultanate where it …

AIG Names Williams VP Communications, Public Affairs for EMEA

American International Group has appointed Rhodri Williams to the newly created role of Vice President for Communications and Public Affairs for Europe, Middle East, and Africa (EMEA) effective January 1, 2015. He will be based in London and will report …

Berkshire Hathaway Hires Two Sr. Execs from AIG Asia – WSJ Report

Berkshire Hathaway has hired two senior executives from American International Group’s Asia operations to boost its insurance business in the region, the Wall Street Journal reported citing people familiar with the matter. Berkshire Hathaway has hired Marc Breuil, who headed …

AIG’s 13-Year Wait Gets Longer as Modi Rebuffed: Corporate India

American International Group Inc. has waited 13 years in India to raise its stake in a local venture from a maximum allowed 26 percent. That wait is about to get longer. Opposition lawmakers, during the current session of parliament scheduled …

Best Affirms AIG and P&C Subs Ratings; Outlook Stable

A.M. Best has affirmed the issuer credit rating (ICR) of “bbb” of American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and the ICRs of “a” of AIG’s U.S. property/casualty subsidiaries (collectively referred …

AIG Lured to Malaysia by Growing Takaful Market: Islamic Finance

American International Group Inc. is plotting its entry into Malaysia’s Islamic insurance market, lured by the country’s economic expansion and an industry that has grown more than fivefold in less than a decade. The insurer, the world’s largest before being …