Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Commercial Lines CEO Schimek Eyes Acquisitions for Value-Added, Not Scale
Sep 12 2016 // American International Group Inc. would weigh acquisitions to bolster high-priority businesses, even as Chief Executive Officer Peter Hancock exits other units, the head of the company’s commercial insurance...
Ex-AIG Chief Greenberg Won’t Surrender in 11-Year Old Reinsurance Fight
Sep 9 2016 // Even at 91, former American International Group Inc. Chairman Maurice “Hank” Greenberg isn’t ready to quit fighting. Greenberg scrapped with regulators and the Internal Revenue Service and beat the...
Allianz Expands Global Environmental Impairment Liability Team
Sep 8 2016 // Allianz Global Corporate & Specialty (AGCS) is expanding its global Environmental Impairment Liability (EIL) team with new senior hires in the North American and Mediterranean regions. “Environmental claims pose...
Sompo Canopius Hires Pearce (Former AIG Exec) as Head of Heavy Industry
Sep 8 2016 // Sompo Canopius AG announced the hire of Spencer Pearce as head of heavy industry. Pearce, one of a number of recent senior hires for Sompo Canoipius, joins from AIG. He will report to Mike Southgate, head of Marine, Energy...
AIG, Chubb, XL Group Lead in U.S. Cyber Coverage Market Share: Fitch Ratings
Sep 6 2016 // The U.S. property/casualty insurance industry generated $1 billion in direct written premium volume for cyber insurance in 2015. American International Group (AIG), Chubb and XL Group led the market, according to Fitch...
AIG Reported to Be Selling Its Last Shares in China’s PICC Insurer
Sep 5 2016 // American International Group (AIG) is seeking to raise about $190 million by selling its remaining shares in China’s PICC Property and Casualty Co Ltd, according to a term sheet of the deal seen by IFR on...
AIG’s Sparro Joins Endurance Specialty as CEO of U.S. Insurance
Sep 1 2016 // Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property/casualty insurance and reinsurance, said Christopher Sparro is joining the company as executive vice president and chief executive officer...
AIG, Chubb, XL Lead in $1 Billion U.S. Cyber Insurance Market: Fitch
Aug 29 2016 // About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S....
WSJ: AIG May Sell Shares in Lloyd’s Unit Ascot to Canadian Pension Board
Aug 23 2016 // American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager Ascot Underwriting Holdings Ltd. to Canada Pension Plan Investment Board (CPPIB), the Wall...
AIG Names Leggett-Flynn as Chief Communications Officer
Aug 23 2016 // American International Group, Inc. (AIG) has appointed Cindy Leggett-Flynn as senior vice president, chief communications officer. In this position, Leggett-Flynn will be responsible for AIG’s communications strategy...
Business Moves
Aug 22 2016 // U.S. Risk, Kohlberg & Co. Dallas-based international specialty lines underwriting manager and wholesale broker U.S. Risk Insurance Group Inc. has agreed to partner with the private equity firm Kohlberg & Co....
Critic Icahn Warms to AIG CEO Hancock’s Plans, Likes $3.4 Billion Deal
Aug 17 2016 // Carl Icahn, who won representation to the board of American International Group Inc. after threatening a proxy battle, said he’s warming to the approach of the insurer’s chief executive officer. ” Peter...
Further Simplifying, AIG to Sell United Guaranty to Arch for $3.4 Billion
Aug 16 2016 // American International Group Inc. agreed to sell mortgage insurer United Guaranty Corp. to Arch Capital Group Ltd. as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to...
AIG CEO Focus on Boosting Returns, Not Too Big to Fail Label
Aug 10 2016 // American International Group Inc. Chief Executive Officer Peter Hancock said he’s more focused on boosting returns than worrying about the government’s classification of his company as too big to fail. Peter...
NSM Forms Joint Venture with Massachussetts-Based ABRY Partners, AIG
Aug 8 2016 // NSM Insurance Group, an insurance program administrator based in Pa., has agreed to enter into a joint venture with Massachussetts-based private equity investment firm, ABRY Partners, and AIG. Through this partnership, NSM...
Lower Costs, Improved Underwriting Boost AIG Profit in Q2
Aug 3 2016 // American International Group Inc., the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts’ estimate, driven by lower costs and strong underwriting during the...
AIG Offers Brexit Coverage in UK for Anxious Executives
Jul 29 2016 // American International Group is coming out with new Brexit coverage in the UK for anxious executives, barely weeks after the fateful British vote to pull out of the European Union. AIG division AIG UK will handle the...
Pressure Building on AIG CEO Hancock
Jul 27 2016 // The American International Group Inc. chief executive officer has posted three straight quarterly losses and will probably report Tuesday that profit in the three months ended June 30 fell 32 percent, according to analysts...
AIG’s Jones Named COO at TDC Risk Management
Jul 25 2016 // High net worth personal insurance firm TDC Risk Management (TDC), based in Maumee, Ohio, has hired Greg Jones as chief operating officer. Jones joins the closely held firm in support of its continued strong growth and...
AIG Unleashes New Primary Cyber Policy for Property/Liability Exposures
Jul 20 2016 // AIG rolled out a new standalone cyber policy that provides primary insurance protection for a wide range of related risks. The insurance giant is marketing CyberEdge Plus as offering primary protection for property damage,...
