Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Financial Products, Goldman Sachs Unwind Credit Default Swaps
Apr 12 2010 // American International Group Inc. realized a loss of up to $2 billion last year as its Financial Products unit ended most of its remaining trades with Goldman Sachs Group Inc., a source familiar with the matter said on...
Property Firm Purchases Infamous AIG Party Hotel
Apr 7 2010 // Washington Holdings, a private real estate company, said Tuesday it bought the St. Regis Monarch Beach Resort, which became infamous after American International Group Inc executives spent lavishly there weeks after a...
AIG to Pay $9M in Ohio Antitrust Case
Apr 7 2010 // American International Group Inc. will pay $9 million to settle an Ohio antitrust lawsuit accusing it of conspiring to fix commercial casualty insurance prices. Ohio Attorney General Richard Cordray had accused AIG and...
AIG Financial Products Executive Cassano Still Faces SEC Probe
Apr 6 2010 // The former head of the American International Group division that nearly bankrupted the giant insurer isn’t out of the woods yet. Joseph Cassano, who ran London-based AIG Financial Products and oversaw its disastrous...
People
Apr 5 2010 // Novato, Calif.-based Fireman’s Fund Insurance Co. named David Zona senior vice president of product management in commercial insurance. He will be responsible for setting direction and priorities for various...
AIG Expects to Repay Government Before 2013, Says CEO
Apr 2 2010 // American International Group Inc.’s chief executive said Thursday he is “pretty comfortable” the bailed-out insurer will be able to repay the U.S. government before the 2013 expiration of its credit...
U.S. Treasury Appoints E-Trade, EDS Executives to AIG Board
Apr 2 2010 // The U.S. Treasury Department Thursday named two former executives of E-Trade Financial and Electronic Data Systems to serve on the the board of directors of American International Group, the insurer bailed out by the...
S&P Affirms AIG’s Ratings; Outlook Still Negative
Apr 2 2010 // Standard & Poor’s Ratings Services has affirmed its ‘A-/A-1’ counterparty credit ratings on American International Group Inc, as well as its ‘A+’ counterparty credit and financial strength...
Federal Reserve Discloses Toxic Assets It Bought to Rescue Banks, AIG
Apr 2 2010 // After two years of secrecy, the Federal Reserve Bank of New York is disclosing key details about billions of dollars of risky investments it bought while rescuing insurance giant American International Group Inc. and...
Lawsuit Alleging AIG Executives Ignored ‘Red Flags’ Dismissed
Mar 31 2010 // A Manhattan federal judge dismissed a shareholder lawsuit accusing current and former American International Group Inc. executives and directors of ignoring “red flags,” leading to the insurer’s near...
Fees from AIG Asset Sales Enrich Wall Street Banks
Mar 26 2010 // The crumbling empire of American International Group Inc. is helping to pave Wall Street with gold. Auctions of the bailed-out insurer’s assets have generated more than half a billion dollars in fees since its...
Pay Czar Demands More Pay Cuts at AIG, Other Bailed Out Firms
Mar 24 2010 // The Obama administration’s pay czar Tuesday slashed pay again at five U.S. firms that still depend on a government lifeline, but boasted that the clampdowns are not sending talented workers fleeing for the...
AIG To Pay $8 Million to Settle Lawsuit
Mar 22 2010 // The Oregon Public Employee Retirement Fund will recover losses that were attributable to a pattern of poor disclosure and bid-rigging by insurance giant American International Group Inc. (AIG), under a settlement announced...
Best Affirms Ratings of Farmers Insurance Group and Members
Mar 17 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Farmers Insurance Group and its members. Best also affirmed the debt...
Ex-AIG Employees Might Sue Over Reduced Bonuses
Mar 15 2010 // Several former American International Group Inc. employees might sue the insurer after it gave them less retention bonus money than they should have received, their lawyers said Monday. AIG is holding back $21 million from...
AIG Sells Alico Unit to MetLife for $15.5 Billion
Mar 8 2010 // AIG is selling its foreign life insurance unit to MetLife Inc. for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a massive U.S. government bailout. MetLife said Monday that it would...
AIG’s Ex-CEO Greenberg to Testify on General Re Transaction This Week
Mar 8 2010 // Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., will testify Wednesday over a sham transaction involving the insurer and a unit of Warren Buffett’s Berkshire...
AIG to Get $231 Million If Sale of Asian Unit to Pru Fails
Mar 8 2010 // American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through. In a filing with the Securities and...
Ohio AG: Ruling Clears Way for State to Take AIG to Trial
Mar 7 2010 // Ohio Attorney General Richard Cordray says he is encouraged by a recent federal court ruling granting class certification in a securities litigation against American International Group Inc. (AIG). The Feb. 22 ruling in...
Singapore GIC, Qatar to Underwrite Part of Prudential’s Rights Offer
Mar 5 2010 // Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5...
