Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s Benmosche: ‘AIG Has Not Only Survived, It’s Got Its Strength’
Feb 24 2012 // AIG’s top executives struck an optimistic note as the insurer reported strong 2011 fourth-quarter profit results. CEO Robert Benmosche told analysts during a conference call this morning that AIG is regaining its...
Asia Insurer AIA Boosted by Surge in New Business
Feb 24 2012 // AIA Group Ltd, Asia’s No.3 insurer, reported a 40 percent rise in value of new business for its fiscal full year and growth in Thailand despite last year’s devastating floods, surprising analysts and sending...
AIG Posts Huge Q4 Profit on Tax Benefit; Chartis Reports $348M Income
Feb 23 2012 // Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit. The move, which sent the...
AIG’s Chartis Appoints Head of New Claims, Operations Division
Feb 22 2012 // American International Group’s Chartis, its global P/C business, has placed its claims unit and operations and systems (O&S) unit under a single management team. Eric Martinez — appointed as executive vice...
Atypical P/C Executive: Chartis CEO Hancock on Fear, Regulation, Science and More
Feb 22 2012 // The keynote speaker told the professional liability insurance underwriters that regulation is not the enemy of business growth, the plaintiffs’ bar is their ally, deleveraging of financial institutions is a good...
AIG $725 Million Settlement Approval Clears
Feb 20 2012 // Ohio Attorney General Mike DeWine said U.S. District Court Judge Deborah A. Batts’ approval of a $725 million securities class action settlement against American International Group Inc (AIG) and certain individual...
AIG In No Rush to Sell Key Assets: CEO Benmosche
Feb 15 2012 // American International Group Inc. may raise its stake in Asian insurer AIA Group someday and is open to offers for its airplane leasing business ILFC, but will bide its time on all these things, Chief Executive Bob...
AIG Reviewing Succession as Chairman Takes New Job
Feb 7 2012 // Bailed-out insurer American International Group will review its succession plans after its chairman accepted a job as the chief executive of an airplane maker, the company said on Tuesday. AIG CEO Bob Benmosche has been in...
New York Fed Taps 5 Banks to Bid for AIG Bonds: WSJ
Feb 7 2012 // The Federal Reserve Bank of New York has invited five banks to bid for mortgage bonds of insurer American International Group, the Wall Street Journal reported. The five banks selected are the U.S. securities units of...
Fed Sells $7B of Mortgage Securities From AIG Bailout
Feb 6 2012 // The Federal Reserve Bank of New York recently sold $7.01 billion worth of mortgage-backed securities it had assumed from AIG, as the U.S. government continues to recoup its money from its bailout of the insurer. The...
People
Feb 6 2012 // Marsh & McLennan Companies has appointed AIG executive Julio Portalatin as CEO of Mercer, MMC’s human resource consulting unit. Portalatin succeeds M. Michele Burns who left the firm last October. Portalatin...
Fed Sells $7B of Mortgage Securities From AIG Bailout
Feb 6 2012 // The Federal Reserve Bank of New York recently sold $7.01 billion worth of mortgage-backed securities it had assumed from AIG, as the U.S. government continues to recoup its money from its bailout of the insurer. The...
Business Moves
Feb 6 2012 // IMAC, Specialty Service Solutions Randolph, Mass.-based International Marketing and Administration Co. (IMAC) purchased Specialty Service Solutions LLC, an insurance brokerage headquartered in Chicago. Specialty Service...
Business Moves
Feb 6 2012 // The Navigators Group Rye Brook, N.Y.-based specialty insurer The Navigators Group said its principal underwriting agency subsidiary, Navigators Management Company, expanded its Navigators Re division by launching a...
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Best Revises AIG and Subs Outlook to Stable; Affirms Ratings
Jan 27 2012 // A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb” of American International Group. It has also revised the outlook to stable from negative and...
AIG Thinking about Buying Back More of AIA
Jan 26 2012 // American International Group Chairman Steve Miller said on Thursday the bailed-out insurance company may eventually want to buy a life insurer outside the United States, including possibly a larger stake in the spun-off...
AIG to Merge Group Benefits Units From Chartis and American General
Jan 24 2012 // Two American International Group units — Chartis U.S. Accident and Health, and American General Life Companies — are planning to merge their group benefits businesses into a single, unified organization. The...
Starr Companies Hires AIG Exec to Lead Defense Base Act Coverages
Jan 20 2012 // Starr Companies has appointed Shane McCaffrey as profit center manager in charge of Defense Base Act and foreign casualty insurance for U.S.-based multinationals. Starr Companies said Defense Base Act and foreign casualty...
Marsh & McLennan Appoints AIG Exec Portalatin as CEO of Mercer Unit
Jan 18 2012 // Marsh & McLennan Companies appointed insurance veteran Julio Portalatin as CEO of Mercer, MMC’s human resource consulting subsidiary. Julio Portalatin His appointment is effective February 1. He will be based in...
