Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Pru-AIG’s AIA Life Marriage Makes Strategic Sense But Carries Risks
Mar 1 2010 // Prudential Plc’s $35.5 billion offer for American International Group Inc.’s Asia business marries the UK insurer’s fast-growth strategy with AIA’s mature business profile — a logical,...
AIG to Sell ‘Crown Jewel’ Asian Life Unit to UK’s Prudential for $35.5 Billion
Feb 28 2010 // American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout...
AIG To Pay $8 Million to Settle Lawsuit Over Oregon Pension Fund Losses
Feb 26 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...
AIG Reduces Q4 Loss; Reports Some Stabilization While Challenges Remain
Feb 26 2010 // American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the...
Pay Czar Struggles to Rework Bonuses at AIG, Other Bailed-Out Firms
Feb 25 2010 // The Obama administration’s pay czar said his attempts to renegotiate valid pay contracts at bailed-out companies, particularly insurer AIG, has been a “unique challenge,” according to testimony released...
Ohio AG: Ruling Clears Way for State to Take AIG to Trial
Feb 24 2010 // Ohio Attorney General Richard Cordray announced he is encouraged by a recent federal court ruling granting class certification in the securities litigation against American International Group Inc. (AIG). The ruling in the...
Judge Certifies Stockholders’ Class Action Against AIG
Feb 23 2010 // A U.S. judge on Monday certified a class action lawsuit for stockholders, but not bondholders, against American International Group Inc. U.S. District Judge Deborah Batts denied a request by three Ohio state public pension...
Despite Outrage at AIG Bonuses, Private Sector Still Rewards Failure
Feb 23 2010 // To many Americans, it’s a matter of common sense: traders who failed so spectacularly at their jobs that they nearly brought down the global economy should be fired, not rewarded with handsome bonuses. Yet AIG, the...
Why AIG Omitted JP Morgan from Underwriters for Life Insurer IPO
Feb 12 2010 // American International Group Inc. turned down JPMorgan’s attempts to get in on the estimated $10 billion Hong Kong IPO of its Asian life insurance unit, sources involved with the deal said on Friday, in a snub partly...
MetLife May Pay AIG in Stock, Cash for Life Insurance Unit
Feb 10 2010 // MetLife Inc. plans to pay American International Group Inc. in stock and cash for American Life Insurance Co. (Alico), as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter...
AIG Hires KeyCorp’s Hancock to Oversee Finance, Risk
Feb 8 2010 // American International Group Inc. is expected to hire Peter Hancock, a KeyCorp vice chairman and financial services veteran, in a newly created role, overseeing finance, risk and investments, according to two sources close...
Treasury Chief Geithner Says Bank Fee Can Recoup AIG Bonuses
Feb 4 2010 // U.S. Treasury Secretary Timothy Geithner said Wednesday that insurer AIG’s multimillion-dollar bonus contracts were “outrageous,” but Congress can help recoup these payments by passing an Obama...
AIG Retention Bonuses Will Be Completed in March, Says Pay Czar
Feb 3 2010 // President Barack Obama’s pay czar Wednesday predicted the issue of hefty bonuses for AIG employees would end in March and denied a Republican claim that the firm outmaneuvered the Obama administration. “It ends...
AIG Filing Casts Doubt on ‘Limited Exposure’ Claim
Feb 1 2010 // A controversial regulatory filing detailing the federal bailout of American International Group Inc. could put the spotlight back on the former executive who headed the division most responsible for the insurer’s...
AIG Financial Product Employees Accept Retention Pay Cuts
Jan 29 2010 // Most current employees at the financial products unit of American International Group Inc. eligible for money owed them under a retention plan told the company they would accept less money in return for an earlier payout,...
Lawmakers Turn Up Heat on Treasury Chief Geithner Over AIG
Jan 28 2010 // U.S. lawmakers challenged Treasury Secretary Timothy Geithner’s credibility on Wednesday after he said he was not involved in a decision by bailed-out insurer AIG to withhold details about $62 billion paid to...
U.S. Treasury Investigator Says French Regulator Was Open to AIG Talks
Jan 27 2010 // An overseer for the U.S. bailout program said Tuesday that France’s banking regulator was open to further negotiations over possible concessions on payments from bailed out insurer AIG, according to prepared...
Treasury Chiefs Paulson, Geithner Defend AIG Bailout
Jan 27 2010 // Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a...
Treasury Secretary Geithner Denies Role in AIG Disclosure
Jan 27 2010 // U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner...
AIG Reportedly Scraps Plans to Sell Aircraft Leasing Unit
Jan 26 2010 // American International Group has decided not to sell its aircraft leasing unit, International Lease Finance Corp, the Financial Times said, citing people close to the situation. AIG has realized that it will not reap a big...
