American International Group News

AIG May Move Europe HQ from London to Another EU Country on Brexit

U.S. insurer AIG may move its European headquarters from London to another European Union country because of Britain’s vote to leave the EU, the head of the AIG’s European and UK operations said at an industry conference on Tuesday. AIG …

AIG Agrees to Sell Japan Life Business to Hong Kong’s FWD Group

Hong Kong tycoon Richard Li is poised to buy American International Group Inc.’s Fuji Life Insurance Co. business, a deal that marks his FWD Group’s first foray into Japanese insurance. AIG will continue to offer property-casualty coverage in the Asian …

AIG Sued by Ex-Derivatives Staff Who Claim Denial of $100M in Bonuses

American International Group Inc. was sued by former staff who say they were denied $100 million in bonuses amid public outrage over derivative trades that crippled the insurer and threatened the stability of global financial markets. Details of the U.K. …

NSM Forms Joint Venture with Massachussetts-Based ABRY Partners, AIG

NSM Insurance Group, an insurance program administrator based in Pa., has agreed to enter into a joint venture with Massachussetts-based private equity investment firm, ABRY Partners, and AIG. Through this partnership, NSM Insurance Group aims to quickly grow and diversify in …

AIG Offers Brexit Coverage in UK for Anxious Executives

American International Group is coming out with new Brexit coverage in the UK for anxious executives, barely weeks after the fateful British vote to pull out of the European Union. AIG division AIG UK will handle the product launch, which …

‘Brexit’ Would Damage UK’s Leadership Position in Insurance: Aon

Aon Plc Chief Executive Officer Greg Case, who moved the insurance broker to London from Chicago four years ago, said the U.K.’s centuries-long leadership in the industry would be damaged if voters choose to leave the European Union. “The U.K. …

AIG Weighs Moving Its European Hub from London if ‘Brexit’ Triumphs

American International Group Inc. will consider establishing an operations center within the European Union if the U.K. votes to leave the political bloc, according to Chief Executive Officer Peter Hancock. “If a Brexit occurs, I suspect we will need a …

AIG to Offer Crowdfunding Investor Protection in UK and Canada

American International Group Inc. has launched a new product for the global crowdfunding investment industry. This new insurance product was developed specifically to protect investors on equity crowdfunding platforms against issuer fraud. Crowdfunding platforms enable innovators to fund their ideas …

Boston Duck Tours Says Driver in Crash Had ‘Exemplary’ Record

Boston Duck Tours says the driver of the amphibious sightseeing vehicle that collided with a scooter in Boston, killing a woman, had an “exemplary record” during his six years with the company. A Boston Duck Tours spokesman said in a …

Lexington Underwriter Warmuth Killed in Boston Duck Boat Crash

Allison Warmuth, senior underwriter in healthcare at Lexington Insurance, was killed in a tragic accident Saturday after the scooter she was driving was struck by a duck boat in downtown Boston. Warmuth, 28, was also an associate board member of …