Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Jury, Spitzer Probing Possible AIG Criminal Indictments
May 20 2005 // A Reuters report on Friday stated that a New York grand jury is investigating potential criminal conduct by individuals at insurance company American International Group Inc. (AIG). According to the report, New York...
Fla. Seeks ‘Answers’: AIG Entities Ordered to Provide Detailed Information
May 19 2005 // The Florida Office of Insurance Regulation has joined the ever-increasing tide of regulatory bodies seeking answers from American International Group Inc. AIG operates 43 licensed insurance entities in the State of...
AIG Lowers N.J. Auto Rates
May 19 2005 // AIG Auto Insurance said it will lower auto insurance costs for more than 55,000 policyholders in New Jersey. Beginning June 30, 2005, AIG Auto Insurance will implement a 4 percent rate decrease, which will lower auto...
Mass. Approves 3% Workers’ Comp Rate Reduction
May 19 2005 // Massachusetts Insurance Commissioner Julianne Bowler has approved a 3.0 percent overall average rate reduction in workers’ compensation rates, a savings of $32.6 million in premiums paid by employers. The new rates...
General Re, Faraday Execs Placed on Leave Over Reinsurance Probe
May 17 2005 // Two insurance employees will be placed on paid leave as federal officials conduct probes into insurance practices, billionaire investor Warren Buffett’s Berkshire Hathaway Inc. said. In a filing last Friday with the...
AIG FACES AUDIT OVER COMP:
May 9 2005 // The state insurance department is appointing a consultant to audit years of alleged improper booking of workers’ compensation premiums at American International Group. New York Attorney General Eliot Spitzer and...
AG PETRO GETS IN ON AIG LAWSUIT
May 9 2005 // Ohio Attorney General Jim Petro is expanding the scope of the securities fraud class action lawsuit currently pending against American International Group and others by filing an amended complaint in federal court in New...
AIG Domestic Brokerage Group Unveils Specialized Practice for Financial Institution Risks
May 9 2005 // The Domestic Brokerage Group of American International Group Inc. (AIG) announced the formation of the AIG Financial Institutions Practice, a new organization dedicated to serving the insurance and risk management needs of...
Finite Reinsurance Probes Appear Infinite
May 9 2005 // Investigators’ interest in finite reinsurance transactions goes well beyond the five-year old agreement between American International Group and Berkshire Hathaway’s General Re that has been targeted by New...
NAIC Chief Koken of Pa. Says States are Watching AIG Closely
May 5 2005 // Responding to the announcement from American International Group that it was restating its financial statements for the years 2000 to present, and that the filing of its 2004 annual report would again be delayed,...
Best Downgrades Issuer Credit Ratings of Transatlantic; Ratings Placed Under Review with Negative Implications
May 5 2005 // A.M. Best Co. has downgraded the issuer credit ratings to “aa-” from “aa” of Transatlantic Reinsurance Company, Putnam Reinsurance Company (both of New York, N.Y.) and Trans Re Zurich (Zurich,...
A.M. Best Downgrades Ratings for AIG Subs; Ratings Stay Under Review
May 5 2005 // A.M. Best Co. has downgraded the Financial Strength Ratings (FSR) of most of American International Group Inc.’s (AIG) (New York) wholly-owned insurance subsidiaries to A+ (Superior) from A++ (Superior). This action...
AIG Private Client Group Rolls Out Auto Insurance for High Net Worth Individuals in Texas
May 4 2005 // AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc. (AIG), has launched its enhanced AIG Private Client Group Auto Program in...
AIG to Restate Past Financials as Internal Audit Continues; Acknowledges Lack of Internal Controls
May 2 2005 // American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be reduced by $2.7 billion, or...
Buffett Expresses Confidence in AIG
May 2 2005 // Billionaire investor Warren Buffett and his right hand man, Charlie Munger, expressed confidence in embattled New York insurance company American International Group Inc. as they addressed Berkshire Hathaway Inc....
AIG Reportedly to Delay Annual Report Again
Apr 29 2005 // American International Group will again delay the filing of its annual 10-K report for 2004 in order to complete its review of its accounting, according to published reports. The filing had been expected on Monday but now...
AIG WorldSource Enhances DBA Insurance Program
Apr 28 2005 // AIG WorldSource(R), a division of the Domestic Brokerage Group of American International Group, has announced enhancements to several key components of its Defense Base Act (DBA) coverage program. AIG WorldSource will now...
Spitzer, Mills on the Prowl; New York Insurance Dept. to Audit AIG
Apr 26 2005 // New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills on Tuesday announced that the Insurance Department would appoint a consultant to audit years of alleged improper booking of workers’...
Fla. Insurance Commissioner McCarty Issues Subpoenas to 17 Reinsurers
Apr 25 2005 // Florida insurance regulators are probing the dealings of 17 reinsurers selling finite risk policies. Florida’s Insurance Commissioner Kevin McCarty said that he has issued investigative subpoenas to the reinsurers...
AIG, Related Units Stay on CreditWatch Negative
Apr 25 2005 // Standard & Poor’s Ratings Services said Monday that it is keeping its ratings on American International Group Inc. (‘AA+/Watch Neg/A-1+’) and AIG’s subsidiaries on CreditWatch with negative...
