American International Group News

Africa Provides Insurers With New Business Opportunities

Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog Investments. “We’re at an immense inflection point in history where millions of people …

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, …

AIA First-Half New Business Value Rises 23%, Led by China

AIA Group Ltd., the second-largest Asia-based insurer, posted a 23 percent increase in new business value in the first half, beating analyst estimates and exceeding the full-year figure for 2010 when it went public. The gauge of projected profitability of …

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 …

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 …

Massachusetts Judge Criticizes AIG in $7M Decision

A Massachusetts judge has ordered AIG Inc. to pay at least $7 million to a Wellesley, Mass., man injured after he was struck by a bus in a scathing decision that accuses the insurer of hiding evidence and manipulating witnesses. …

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 …

AIG’s Benmosche Receives Leadership Award From St. John’s University in N.Y.

St. John’s University’s School of Risk Management (SRM) held its 19th annual “Insurance Leader of the Year” awards dinner Wednesday before a crowd of more than 1,400 in New York City.Robert H. Benmosche, president and CEO of American International Group, …

St. John’s Univ. to Honor AIG’s Benmosche as 2013 Insurance Leader of the Year

St. John’s University’s School of Risk Management (SRM) in New York will honor American International Group’s President and Chief Executive Officer Robert H. Benmosche as the “2013 Insurance Leader of the Year” at its 19th annual Insurance Leader of the …

AIG to Open $5.5M Tech Center, Bring 230 New Jobs to Charlotte, N.C.

North Carolina officials announced American International Group will invest more than $5.5 million to establish a technology center in Charlotte, N.C. With the new technology center, AIG plans to bring 230 new jobs to the region by the end of …