Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Court OKs AIG’s $450M Settlement Over Underreported Workers’ Comp Premiums
Dec 28 2011 // A federal judge has approved American International Group Inc.’s $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers’ compensation policies. AIG will...
AIG CEO Benmosche Wants to Extend His Stay: Report
Dec 27 2011 // American International Group’s CEO Robert Benmosche recently told the board directors that he wants to stay in his job longer than previously planned, according to a report. The Wall Street Journal reported last...
Starr International Files $25B Lawsuit Against U.S., Calling AIG Takeover ‘Unconstitutional’
Dec 5 2011 // A company run by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer...
AIG Unlikely to Take Q4 Reserve Charges: Barclays
Nov 23 2011 // Bailed-out insurer American International Group is unlikely to add to reserves in the current quarter, though investors may not be convinced the reserves are adequate, Barclays Capital said Tuesday. Barclays analyst Jay...
Starr International Files $25B Suit Against U.S. Over AIG Takeover
Nov 21 2011 // A company run by former American International Group Inc Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer unconstitutional. The...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 21 2011 // American International Group said recently its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have offered similar observations in the latest earnings season. “In...
AIG Continues Paying Back TARP Money
Nov 21 2011 // In other AIG News, the company made an additional $972 million repayment to the U.S. Treasury Department in early November. AIG said the money paid is the sixth major payment to the government in 2011, bringing the total...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 4 2011 // American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have been offering similar observations in this earnings season. “In U.S....
Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses
Nov 4 2011 // AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a...
AIG Reports Q3 Net Loss of $4.1 Billion
Nov 3 2011 // American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third quarter ended Sept. 30, 2011, compared with a net loss of $2.5 billion and an...
GAO Report Raises Questions About New York Fed in 2008 AIG Bailout
Nov 2 2011 // A new report from the U.S. Government Accounting Office chronicles the government’s handling of AIG bailout in 2008. In all, the government had invested and made loans worth more than $182 billion for the...
Treasury Receives $972M TARP Repayment from AIG
Nov 2 2011 // The U.S. Treasury Department said it received an additional repayment of $972 million from American International Group (AIG). The payment came mostly from the scheduled release of the escrow from AIG’s sale of its...
AIG Fraud Suit Against Bank of America Won’t Be Moved to State Court
Oct 21 2011 // A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case...
Chartis to Trim Workforce; AIG Settlement Approved
Oct 17 2011 // American International Group said its property/casualty carrier Chartis will eliminate some jobs, with the reduction affecting less than 1 percent of its workforce, or roughly 400 or fewer positions. “As part of...
Ex-AIG Unit AIA Group’s Growth Jumps in Q3 as Insurance Demand Rises
Oct 14 2011 // AIA Group Ltd, Asia’s No.3 insurer, said growth accelerated in the third quarter, with its value of new business rising 53 percent as strong performance in markets such as Malaysia helped boost earnings. The...
AIG’s $725M Settlement with Pension Funds Gains Preliminary Approval
Oct 7 2011 // New York federal court gave a preliminary approval to American International Group’s $725 settlement deal with Ohio public pension funds. It’s another forward step in AIG’s effort to resolve ongoing legal...
Chartis to Trim Workforce
Oct 5 2011 // American International Group said its property/casualty carrier Chartis will eliminate some jobs, with the reduction affecting less than 1 percent of its workforce, or roughly 400 or fewer positions. “As part of...
Chartis CEO Says Europe Still Safe; Insurer Seeks ‘Value Over Volume’
Oct 3 2011 // AIG’s global property and casualty insurer Chartis continues to see opportunities in Europe despite the sovereign debt crisis, the chief executive of the unit said in an interview last Friday. Peter Hancock also said...
Surplus Lines Industry Losing Its Edge?
Oct 3 2011 // The surplus lines industry continues to outperform the overall property/casualty industry but its advantage is not what it used to be. According to the annual A.M. Best special report, the surplus lines industry generated...
People
Oct 3 2011 // Swett & Crawford has opened a satellite office in Redondo Beach, Calif. The office will be led by Brian Vassallo, who is joining the firm as a vice president. Vassallo, who has a decade of experience in wholesale...
