AIG - Latest Insurance News

AIG Launches PR Push on YouTube to Repair Image

Jul 30 2012 // AIG is launching a public relations campaign to repair its reputation. Last Thursday, the once-mighty insurance giant American International Group posted several videos on YouTube, www.youtube.com/aig , proclaiming that...

Walnut Place Drops Objections to $8.5 Billion BofA Deal; AIG Still Questions

Jul 24 2012 // Walnut Place, an entity that had challenged a proposed $8.5 billion settlement between Bank of America Corp. and investors in failed mortgage-backed securities, has withdrawn its objections to the deal. The development on...

People – East

Jul 23 2012 // Pawtucket, R.I.-based Narragansett Bay Insurance Company recently named Todd Hart as the new chief executive officer. Narragansett Bay founder Nick Steffey, who has stepped down from the CEO role, will continue as...

AIG to Revive AIG Name; Drop Chartis

Jul 23 2012 // American International Group Inc. said it will resume using its brand name in public in a move to recognize the company’s turnaround, Reuters reported. The insurer, which received $182 billion in government bailouts...

AIG Executive Joins Allied World’s Excess Casualty Unit in New York

Jul 19 2012 // Allied World U.S., part of Switzerland-headquartered Allied World Assurance Company Holdings AG, has appointed Kevin Maloney as vice president, excess casualty.Kevin MaloneyBased in Allied’s New York City office,...

AIG Files Lawsuit Against IRS Seeking $30.2M in Tax Interest

Jul 9 2012 // American International Group, the insurance giant saved by a massive federal bailout, wants some tax money back — from 1991. AIG is suing the Internal Revenue Service (IRS) in Federal Claims Court in Washington, D.C....

Judge Says Greenberg May Pursue $25B Suit Over AIG Bailout

Jul 3 2012 // A company run by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg may pursue a $25 billion lawsuit against the U.S. government, in which it called the 2008 federal bailout of...

Former AIG, Gen Re Execs Admit to Fraud, Pay Fines

Jul 2 2012 // Five former executives of American International Group Inc and Berkshire Hathaway Inc unit Gen Re admitted to conducting a fraudulent reinsurance transaction on June 22 as part of a deal to end a years-long criminal case...

Massachusetts, Connecticut Receive AIG Settlement Funds

Jul 2 2012 // More states are officially announcing that they have collected penalties and fines as part of a multi-state regulatory settlement with American International Group over workers’ compensation insurance. On June 21,...

AIG to Revive AIG Name; Drop Chartis, SunAmerica Names: Reuters

Jun 28 2012 // Bailed-out insurer American International Group Inc. will resume using its brand name in public in a move to recognize the company’s turnaround, Chief Executive Bob Benmosche said on Thursday. AIG, which received...

White Mountains to Acquire 2 Runoff Subsidiaries From AIG Division

Jun 28 2012 // White Mountains Solutions Holding Co., a specialist runoff acquisition operation for White Mountains Insurance Group Ltd., is continuing its acquisition activities. White Mountains Solutions said it has entered into an...

Former AIG, General Re Execs Admit to Reinsurance Fraud, Pay Fines

Jun 25 2012 // Five former executives of American International Group Inc. and Berkshire Hathaway Inc. unit General Reinsurance admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long...

Deal Reached in AIG, General Re Executives’ Fraud Case

Jun 22 2012 // A deal has been reached to prevent a new criminal fraud trial for former executives of American International Group Inc. and Berkshire Hathaway Inc. unit Gen Reinsurance, federal prosecutors said on Friday. “The...

AIG Names Executive Chairman for ILFC as CEO’s Relationship Reviewed

Jun 22 2012 // American International Group has appointed Laurette Koellner to the newly created role of executive chairman for its aircraft-leasing unit, International Lease Finance Corporation (ILFC).Aviation industry veteran Laurette...

AIG Pays Massachusetts $3.4M in Multi-State Workers’ Comp Settlement

Jun 22 2012 // Massachusetts Insurance Commissioner Joseph Murphy announced Thursday that the state received more than $3.44 million as its share of a 50-state settlement with the American Insurance Group. Commissioner Murphy stated that...

Connecticut Receives $1M in Multi-State AIG Workers’ Comp Settlement

Jun 19 2012 // Connecticut Insurance Commissioner Thomas Leonardi announced Monday that the state has received just over $1 million in fines and penalties from American International Group Inc. as part of a multi-state settlement over...

States Collecting on $146 Million AIG Workers’ Comp Settlement

Jun 18 2012 // State regulators around the county are finally collecting their share of a multimillion dollar settlement reached with American International Group (AIG) in 2010 based on the company’s misreporting of workers’...

Declarations – Southeast

Jun 18 2012 // Saving Face “Our expectation is that every firm will receive some measure of cash and that every firm will receive their full accommodation by year end if current trading patterns persist.” —Nasdaq’s...

States Collecting on $146M AIG Workers’ Comp Settlement