Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Ex-Executive’s Lawsuit Alleges AIG Defrauded U.S. in Bailout
May 14 2014 // American International Group Inc. defrauded the U.S. by failing to disclose it was selling insurance without a license during negotiations with the government over a bailout in the financial crisis, a former executive...
Hancock, Wintrob Top Candidates to Be Next AIG CEO: WSJ
May 13 2014 // American International Group Inc.’s search for its next chief executive has narrowed down to two internal candidates, the Wall Street Journal reported, citing people familiar with the matter. Peter Hancock and Jay...
AIG Fined for Violating Cuba Sanctions
May 8 2014 // American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout. The insurer agreed to a $279,038...
AIG Profit Falls 27% in Q1; Hurt by Catastrophes, Severe Losses
May 6 2014 // Global insurer American International Group Inc. (AIG) reported net income of $1.6 billion for the first quarter, a 27 percent drop compared to $2.2 billion for the first quarter of 2013. After-tax operating income was...
AIG, Prudential Financial on Federal Reserve’s List of 15 Firms for Extra Supervision
May 4 2014 // The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan Chase & Co. and Bank of America Corp. The tally published on the...
Town of Greenwich, Conn., Reaches $2.4M Storm Settlement With AIG
May 1 2014 // The town of Greenwich in Connecticut has reached a $2.4 million settlement with its insurance company to cover damage to municipal buildings and other property by Superstorm Sandy in October, 2012. The Greenwich Time...
AIG Expands Cyber Coverage to Include Physical Risks from Cyber Events
Apr 23 2014 // AIG has expanded its cyber insurance offering to include property damage and bodily injury exposures. This new cyber offering provides commercial customers a way to manage physical risks to their operations from cyber...
People – East
Apr 21 2014 // Jerry HourihanAmerican International Group (AIG) has named Jerry Hourihan as president of Private Client Group for the U.S. and Canada. He will report to Ralph Mucerino, CEO of Consumer Regional, Americas. Hourihan will be...
Massachusetts Judge Criticizes AIG in $7M Decision
Apr 14 2014 // A Massachusetts judge has ordered AIG Inc. to pay at least $7 million to a Wellesley, Mass., man injured after he was struck by a bus in a scathing decision that accuses the insurer of hiding evidence and manipulating...
AIG Still Has Work To Do, Says Chairman Miller
Apr 9 2014 // American International Group Inc. must do more to win over Wall Street, even after rallying 51 percent in the past two years, Chairman Steve Miller told shareholders. AIG is seeking to reward investors who helped...
New York DFS Becoming ‘National Player’ Among Insurance, Banking Regulators
Apr 7 2014 // On a June morning in 2012, New York bank examiners paid surprise visits to the offices of Ocwen Financial Corp., the biggest non-bank mortgage servicer. That break with tradition — examiners typically set up...
N.Y. Regulator Lawsky Sued by AIG Over Probe Into Unlicensed Insurance
Apr 3 2014 // American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be...
Hourihan Named President of AIG Private Client Group, U.S. and Canada
Apr 1 2014 // Jerry Hourihan has been named president of American International Group’s (AIG) Private Client Group for the U.S. and Canada. He will report to Ralph Mucerino, CEO of Consumer Regional, Americas. Hourihan will be a...
N.Y. Regulators Say MetLife Fined $60M, to Cooperate in Probe of AIG
Mar 31 2014 // MetLife Inc., the largest U.S. life insurer, will pay $60 million after New York watchdogs found subsidiaries solicited business in the state without a license and made intentional misrepresentations to regulators. MetLife...
Insurers Urge Lawmakers Not to Impose Bank Capital Requirements on Industry
Mar 11 2014 // Insurance companies will urge U.S. lawmakers today to stop the Federal Reserve from imposing bank- like capital standards on their industry. A provision of the 2010 Dodd-Frank Act that overhauled U.S. financial regulation...
Secret Service Agent Says Many Cyber Breaches Go Unreported
Mar 7 2014 // Many breaches in data security may be going unreported by American businesses. That’s according to Kirk Arthur, supervisory special agent for the U.S. Secret Service’s San Francisco field...
Changes at Top for AIG Commercial Lines: Smith Named COO; Shea, Thomas Head Global Lines
Mar 5 2014 // American International Group Inc. announced senior leadership changes in its Commercial Insurance business, naming Michael Smith as chief operating officer (COO). Also, James Shea has been appointed president of Global...
Fitch Upgrades AIG
Mar 3 2014 // American International Group Inc., the insurer that repaid a U.S. bailout in late 2012, has been upgraded by Fitch Ratings after buying back bonds and improving results at its units. The rating on senior debt was lifted to...
Ratings Roundup: AIG Asia-Pacific, Fuji Fire/AIU
Feb 21 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Singapore-based AIG Asia Pacific Insurance Pte. Ltd. (AIG APAC) and its fully-owned...
Best Affirms AIG Europe’s Ratings; Outlook Stable
Feb 21 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of UK-based AIG Europe Limited (AEL), a wholly owned subsidiary of American International...
