Latest AIG Headlines

Class Action Suit Filed Against AIG Over Katrina Claims

Oct 10 2005 // Americans for Insurance Reform (AIR), a New York City-based national coalition of public interest organizations, announced that a New Orleans resident has filed a class action suit against American International Group...

AIG Excess Casualty to Offer Coverage for Risks Insured with Insolvent Carriers

Oct 10 2005 // AIG Excess Casualty, a division of American Home Assurance Company, a member company of American International Group Inc., introduced xsInResponse, a new product that provides excess liability coverage for risks previously...

Gen Re Ex-CEO May Face SEC Suit

Oct 7 2005 // Berkshire Hathaway Inc. announced on Friday that Ronald E. Ferguson, the former chief executive officer of General Re Corporation, received a “Wells notice” from the staff of the Securities and Exchange...

AIG Investment Manager, Two Others Charged in Foreign Bribery Scheme

Oct 6 2005 // A managing director at an American International Group investment unit and two other investment advisors have been indicted for their part in an alleged bribery scheme in Azerbaijan. AIG, which says it was defrauded by the...

AIG Seeks $18 Billion in Stock from Greenberg’s Starr International

Oct 2 2005 // American International Group Inc. has asked a court to force a company led by its former chief executive, Maurice R. Greenberg, to relinquish nearly $18 billion in stock set up to benefit AIG executives. AIG, the...

AIG: Q3 CAT Losses Expected to be About $1.1B After-Tax

Sep 20 2005 // American International Group Inc. has issued an initial estimate of its total expected losses relating to third quarter catastrophe events, principally Hurricane Katrina, totaling approximately $1.1 billion after-tax. AIG...

AIG Programs Names The Distinguished Programs Group to Oversee Property Owners Program

Sep 7 2005 // AIG Programs, a division of Lexington Insurance Company, a member company of American International Group Inc. (AIG), has appointed The Distinguished Programs Group as program administrator for Distinguished...

Allied World Announces Three Management Changes

Aug 25 2005 // Allied World Assurance Company, Ltd. [AWAC] has announced the following management changes: — Daniel Brandon has been promoted to the position of senior vice president, Professional-Specialty Lines Treaty...

AIG Auto Insurance: Guys Prefer Their Wives, Significant Other with Them in the Passenger Seat

Aug 23 2005 // Move over Paris Hilton! According to a recent survey by AIG Auto Insurance, two-thirds (66 percent) of American men choose to be stuck in traffic with their wife/significant other this Labor Day weekend. Additionally, 44...

People – West

Aug 22 2005 // Russ McFarren Calabasas, Calif.-based Lionheart Insurance Services has hired Russ McFarren as an excess and surplus broker. He began his insurance career in Ohio and relocated to Los Angeles in 1963 with the Pacific...

AIG Denies Claims Fraud Charges by Consortium of Reinsurers

Aug 22 2005 // A group of 18 insurers is suing American International Group and bankrupt fronting company Trenwick America Reinsurance Corp. for allegedly scheming to collect as much as $73 million in what the insurers claim are...

People

Aug 22 2005 // The National Association of Government Labor Officials (NAGLO) during its 2005 summer conference elected Minnesota Department of Labor and Industry Commissioner Scott Brener president. With members from more than 30 U.S....

Aug 22 2005 // Calabasas, Calif.-based Lionheart Insurance Services has hired Russ McFarren as an excess and surplus broker. He began his insurance career in Ohio and relocated to Los Angeles in 1963 with the Pacific Indemnity Insurance...

AIG Notes Q2 Net of $3.99B

Aug 9 2005 // American International Group Inc. (AIG) has filed its Quarterly Report on Form 10-Q for the period ending June 30, 2005 with the Securities and Exchange Commission. Additionally, AIG filed a Form 10-Q/A restating the...

People

Aug 8 2005 // American International Group Inc. announced that AIG Vice President Charles Dangelo has been appointed AIG’s senior reinsurance officer, effective immediately. In this role, he will be responsible for all outward...

Business Moves

Aug 8 2005 // Berkshire Hathaway, General Electric Omaha, Neb.-based Berkshire Hathaway and Kansas City, Mo.-based General Electric announced that GE Insurance Solutions’ sale of Medical Protective Corporation to Columbia...

Greenberg Fights Back; Ousted AIG Exec Defends Accounting and Challenges Current Management

Aug 4 2005 // Maurice “Hank” Greenberg, former chief executive officer of American International Group Inc., is battling back against charges he cooked AIG’s books, arguing that many of the accounting decisions for...

AIG Names Roemer as Internal Auditor; Duckett Becomes VP Administration

Aug 3 2005 // American International Group Inc. announced that Michael E. Roemer will join the company as director of internal audit and will be appointed a senior vice president. Roemer succeeds Keith L. Duckett, who has been named AIG...

Reinsurers Sue AIG Alleging Claims Fraud; AIG Denies All Wrongdoing

Aug 1 2005 // A group of 18 insurers is suing American International Group and bankrupt fronting company Trenwick America Reinsurance Corp. for allegedly scheming to collect as much as $73 million in what the insurers claim are...

AIG to Help Rebuild Banda Aceh Fish Market Destroyed by Tsunami

Jul 27 2005 // American International Group has signed an agreement to provide funding to rebuild Peunayong Market, the biggest fish market in Banda Aceh, Indonesia. The total value of the Peunayong Market project is estimated at...