Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Steamin’ Hot Markets: Cyber, Sharing Economy, Active Shooter, Construction, Mergers and More
Mar 20 2017 // Cyber Sharing Economy, Active Shooter, Construction, Mergers and More Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. For 2017, experts predict the U.S....
AIG Directors Asked CEO Hancock to Resign to Avoid Fight with Icahn: WSJ
Mar 15 2017 // American International Group Inc.’s decision to remove Peter Hancock as its chief executive was to avoid a proxy battle with billionaire activist investor Carl Icahn, the Wall Street Journal reported, citing people...
How AIG CEO Hancock Ended Up on Way Out
Mar 10 2017 // Before he lost the confidence of big-name investors and his company’s board members, Peter Hancock squandered the faith of many of his staff. It was November 2015, after a disappointing quarter for American...
AIG CEO Hancock to Depart Under Pressure from Icahn, Other Investors
Mar 9 2017 // American International Group Inc. Chief Executive Officer Peter Hancock is stepping down after posting four losses in six quarters, results that hurt investors including activists Carl Icahn and John Paulson. Hancock, 58,...
AIG Plans to Launch Luxembourg-Based Insurer in 2019 in Preparation for Brexit
Mar 8 2017 // American International Group Inc. plans to locate an insurance company in Luxembourg to ensure continued smooth operation of its business across the European Economic Area (EEA) and Switzerland once the United Kingdom...
Fasano Out, Gallo In as AIG’s Chief Information Officer
Mar 7 2017 // American International Group has named Martha Gallo, its chief auditor, as its new chief information officer. Gallo succeeds Philip Fasano, a former Kaiser Permanente executive who was named CIO in 2014 and has now left...
Glazer Joins AIG as Deputy Counsel, Corporate Secretary
Feb 28 2017 // American International Group Inc. has named Rose Marie Glazer as vice president, deputy general counsel and corporate secretary. Glazer will oversee the corporate securities, corporate secretary, and mergers and...
AIG Directors Mull CEO Hancock’s Fate After Disappointing Results
Feb 27 2017 // American International Group Inc.’s directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm’s turnaround plan, the Wall Street Journal...
AIG Among ‘Too-Big-to-Fail’ Insurers Trying to Assess Path Forward Under Trump
Feb 24 2017 // Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House...
AIG to Sell Vermont’s Stowe Mountain Ski Operations After Seven Decades
Feb 22 2017 // American International Group Inc., the insurer that’s been divesting assets to narrow its focus, agreed to sell ski operations at Vermont’s Stowe Mountain to Vail Resorts Inc. AIG will retain majority ownership...
CNA Taps Haas to Lead Florida Branch
Feb 21 2017 // CNA has appointed David Haas as vice president of the company’s Florida branch, effective Feb. 23, 2017. In this role, Haas will lead the Florida branch and grow its relationships with producers, accelerate...
CNA Appoints Ex-Endurance, AIG Executive Worman as Chief Underwriting Officer
Feb 17 2017 // CNA has named Douglas Worman to fill the newly created position of executive vice president and chief underwriting officer. He reports to Dino E. Robusto, CNA chairman and chief executive officer. In this role, Worman will...
Ratings Agencies Uphold Their Ratings on AIG
Feb 17 2017 // Despite American International Group’s poor 2016 fourth quarter earnings performance, Fitch Ratings and Standard & Poor’s both have affirmed the insurer’s ratings, with a few qualifiers slipped...
AIG’s Losing Streak Continued in Q4
Feb 15 2017 // American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened...
Greenberg Fights New York AG’s Spin on Reinsurance Saga
Feb 14 2017 // Almost a dozen years ago, then-New York Attorney General Eliot Spitzer filed a fraud lawsuit against former American Insurance Group Inc. CEO Maurice “Hank” Greenberg over two reinsurance transactions that...
Greenberg, New York AG Settle Long-Running Reinsurance Dispute
Feb 12 2017 // Ex- American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make the insurer’s financial condition look better than it was as part of a...
CNA Hardy Appoints AIG’s Beelders as Head of Multinational
Feb 2 2017 // CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, announced the appointment of Jason Beelders as assistant vice president, head of Multinational. Reporting to Patrick Gage,...
S&P Ratings Reacts to AIG’s Pending Q4 Reserve Charge
Jan 31 2017 // American International Group’s anticipated reserve charge has attracted the attention of Standard & Poor’s, which has downgraded certain ratings in light of the disclosure. S&P said it lowered...
AIG, Fitch Put AIG Under Review Citing Reinsurance Deal, Reserve Adjustment
Jan 27 2017 // American International Group won’t be reporting its Q4 2016 financials until Feb. 14, but a disclosure about a “material adverse reserve adjustment” from the insurer for its U.S. commercial business drew...
NAIC Leader Says Insurer Systemic Risk Process Is Unnecessary
Jan 26 2017 // Although the Financial Stability Oversight Council created by the Dodd–Frank Wall Street Reform Act could serve an incredibly useful purpose, FSOC’s activities so far have been misguided, an insurance regulator...
