Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
U.S. Senator Urges SEC to Probe N.Y. Fed Over AIG E-mails
Jan 12 2010 // U.S. regulators should investigate whether laws were violated when the New York Federal Reserve Bank urged insurer American International Group Inc. to limit discussions about payments to banks, a Republican member of the...
People
Jan 10 2010 // New York-based insurance wholesaler Russell Bond & Co. has promoted Margaret J. Arnold to assistant vice president-controller. She is a 20-year veteran of the firm. In addition, the company has also promoted Derek...
Business Moves
Jan 10 2010 // Aon Risk, Allied North America Aon Risk Services, the risk management and insurance brokerage business of Aon Corp., said it has agreed to acquire Allied North America, one of the largest independent surety and...
Declarations
Jan 10 2010 // No Warren Buffett “The heart and soul of what insurance companies should be is underwriting companies. I mean, I tell people there’s only one Warren Buffett, and I’m not him.” —Fred Eppinger, CEO...
N.Y. Fed Sought to Limit AIG Disclosures of Bank Payments
Jan 8 2010 // The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released Thursday showed. The...
Lawmakers Press Treasury Secretary Geithner for AIG Testimony
Jan 8 2010 // Two prominent U.S. lawmakers Friday called for U.S. Treasury Secretary Timothy Geithner to testify to help determine if the New York Federal Reserve Bank improperly influenced insurer AIG to withhold information on its...
CNA Chief Motamed: What’s Ahead for CNA, Economy, Industry
Jan 6 2010 // After 30 years at Chubb Corp, Thomas Motamed joined Chicago-based commercial lines insurer CNA Financial in January 2009 as chairman and CEO. In this edited interview with Insurance Journal’s Andrew Simpson, Motamed...
AIG Executive Quits Over Pay Limits
Jan 4 2010 // A top executive at American International Group Inc. has resigned because of pay curbs imposed by the Obama Administration’s pay czar, the insurer said last week. Anastasia Kelly, AIG’s vice chairman for legal,...
Pay Czar Approves Retention Pay Raise for AIG Executive
Dec 28 2009 // A top executive of American International Group Inc. has been granted a $4.3 million pay-package bump by the troubled insurance giant’s majority owner — the U.S. government — because the executive has...
AIG Halts Efforts to Sell Chartis Shares to Focus on P/C Unit’s Growth
Dec 22 2009 // American International Group Inc. has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said...
Best Analyzes AIG; Affirms Most P/C, L&H Ratings; Outlook Negative
Dec 21 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of most P/C life/health insurance subsidiaries of American International Group, Inc., as well as the ICR of “bbb”...
2009 P/C Insurance Mergers, Acquisitions Large and Small
Dec 20 2009 // Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies....
Goldman Played Bigger Role in AIG Trades, WSJ Reports
Dec 14 2009 // Goldman Sachs Group Inc. played a bigger role in fueling the mortgage bets that crippled American Insurance Group Inc. than has been publicly disclosed, the Wall Street Journal reported Saturday. An analysis by the paper...
AIG Looking for New HR Chief to Handle Pay Challenges
Dec 7 2009 // American International Group Inc., the bailed out insurer beset by executive pay restrictions, has parted ways with its head of human resources, leaving open a key vacancy in the midst of fragile pay negotiations with...
AIG Solicits Offers for Aircraft Unit
Dec 7 2009 // AIG is soliciting bids for its International Lease Finance Corp. after a group led by the unit’s chief offered to buy a small portion of the aircraft lessor’s fleet, according to sources familiar with the...
AIG Hawaii Becomes Farmers Insurance
Dec 6 2009 // AIG Hawaii Insurance Co. Inc. is changing its name to Farmers Insurance Hawaii, Inc., heralding in a new chapter in the company’s nearly 55-year history, and reflecting its new ownership under national insurer...
One Insurer Bets on Political Campaigns While Another Drops Out
Dec 6 2009 // While one company has gotten out of the business of insuring political campaigns, another is throwing its hat in the ring. Markel Risk Solutions, based in Glen Allen, Va., is offering campaigns a multiline, admitted...
Declarations
Dec 6 2009 // Battling Ida “They were literally fighting each wave. They did that for days.'” —Ocean City, N.J. resident Bob Ashenbrenner, describing local officials’ efforts to reinforce breached dunes near his home...
Declarations
Dec 6 2009 // No Workers’ Comp for Illegals “We are going to provide a mechanism for those claims to be investigated and if the people turn out to be unauthorized there will be no coverage. We will try to wring costs out of...
Report Hits N.Y. Fed, Geithner on AIG Bailout Strategy
Dec 6 2009 // Officials handling the multi-billion dollar bailout of insurance giant America International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG’s business...
