Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Mass. Construction Worker Charged with Workers’ Compensation Fraud
Mar 25 2008 // A Brockton, Mass. man was arraigned on charges he collected over $9,000 in workers’ compensation benefits while he worked at two different jobs, according to the attorney general’s office. Officials said John...
Mass. Insurers Seek 2.3% Workers’ Comp Hike; Hearing Scheduled
Mar 19 2008 // Massachusetts officials will conduct a public hearing on April 3 to consider an industry request for an average 2.3 percent increase in workers’ compensation rates. The Workers Compensation Rating and Inspection...
AIG to Pay Record $9.1M Settlement to Pennsylvania Regulators
Mar 18 2008 // American International Group Inc. will pay $13.5 million – including a record $9.1 million in penalties and investigative costs – to settle allegations of bid-rigging and financial misreporting brought by the...
AIG Shares Fall Sharply on Concerns Over Possible Bigger Credit Losses
Mar 13 2008 // Shares of American International Group fell as much as 8 percent Thursday on concern the world’s largest insurer could face larger-than-expected losses from a credit derivatives portfolio that has already led it to...
AIG Expands Hurricane Service for High Net Worth Clients
Mar 11 2008 // AIG Private Client Group said it will begin offering its Hurricane Protection Unit service to some of it high net worth policyholders in New York, New Jersey and Florida. The service provides a hurricane mitigation...
Declarations
Mar 10 2008 // The Party’s Over “That party is over. … It’s a certainty that insurance industry profit margins, including ours, will fall significantly in 2008. Prices are down, and exposures inexorably rise...
Credit Crisis Throws AIG Into ‘Uncharted Waters’
Mar 10 2008 // American International Group, on the heels of reporting its largest-ever loss, said that the subprime crisis had thrown it into “uncharted waters” that were likely to remain choppy through 2008. The...
Five Execs Found Guilty of Fraud in Gen Re-AIG Trial
Mar 10 2008 // A federal court jury in Hartford, Connecticut, has found four former General Re Corp. executives and one former American International Group executive guilty of corporate fraud and conspiracy charges stemming from...
Ratings: Northwind/Tailwind, Meadowbrook, Hartford, Farm & City, AIG
Mar 4 2008 // A.M. Best Co. has removed the under review with negative implications status and assigned a negative outlook to the debt rating of “aaa” on $800 million of floating rate insured notes, due December 1, 2037...
AIG Expected to Post Rare 4Q Loss on Write-Down
Feb 27 2008 // American International Group , the world’s largest insurer, is expected to report a quarterly loss Thursday, with crippled mortgage investments taking a $5 billion bite out of its derivatives...
5 Execs Found Guilty of Fraud in Gen Re-AIG Trial
Feb 25 2008 // A federal court jury in Hartford, Connecticut has found four former General Re Corp. executives and one former American International Group executive guilty of corporate fraud and conspiracy charges stemming from...
AIG’s $5 Billion Write-Down Has Rating Agencies, Wall Street Concerned
Feb 24 2008 // Some observers speculate the fallout could lead to additional woes for AIG including possibly CEO Sullivan’s exit While American International Group Inc. sought to downplay its miscalculation of losses on a...
People
Feb 24 2008 // San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and...
AIG Files to Block ex-CEO Greenberg’s Access to Internal Documents
Feb 22 2008 // American International Group Inc. Friday filed a motion for a stay of a court order requiring it to turn over some internal documents to ex-Chief Executive Officer Maurice “Hank” Greenberg. An appeals court...
S&P Takes Rating Actions -‘Mostly Negative’- on U.S. Mortgage Insurers
Feb 15 2008 // Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent...
A.M. Best Places AIG Ratings Under Review with Negative Implications
Feb 14 2008 // A.M. Best Co. has placed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings (ICR) of “aa+” of the domestic life and retirement services subsidiaries of American International Group...
AIG Downplays $5B Write-Down; Rating Agencies, Wall Street Concerned
Feb 12 2008 // While American International Group Inc. sought to downplay its miscalculation of losses on a derivatives portfolio as not “material to the company,” Wall Street was abuzz with speculation over whether the...
S&P Revises Outlook on AIG
Feb 12 2008 // American International Group Inc. may be quite sanguine about its financial outlook (See related article), but Standard & Poor’s Ratings Services isn’t quite as confident. S&P announced that it has...
Jurors to Begin Deliberations on Gen Re-AIG Reinsurance Case This Week
Feb 11 2008 // After a month of testimony, jurors in Hartford are expected to begin deliberating this week over the fate of former executives of General Re Corp., a reinsurance company owned by Berkshire Hathaway, without hearing from...
AIG Shares Fall as Insurer Reports Internal Audit Weakness
Feb 11 2008 // Giant international insurer American International Group Inc. saw its shares fall 11 percent today on its acknowledgement that it may have incorrectly valued the effect of the ongoing credit crisis in previous...
