Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Business Moves
Nov 1 2009 // AmTrust, American Capital, GMAC AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty...
AIG Approved to Pay $12 Million Delayed Executive Retention Awards
Oct 26 2009 // AIG, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. In a regulatory...
AIG CFO Defends Bailout; Says ‘Grateful’ for Taxpayer Help
Oct 26 2009 // The top financial officer of insurance giant AIG defended the federal government’s $180 billion bailout of the company in a return to his alma mater. Chief financial officer David Herzog, appointed in October 2008...
Top Executives at AIG Financial, Other Bailed Out Firms to See Pay Cuts
Oct 22 2009 // Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources...
Q&A with Ironshore’s Kelley: Why He Left AIG and His Plans for Ironshore
Oct 19 2009 // In December, 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30 years during which he helped the company become one of parent American International...
AIG Being Pressured to Lower Employee Retention Bonuses
Oct 14 2009 // The U.S. Treasury Department is pushing American International Group to cut big pay incentives it claims were needed to keep staff, but which have stoked a controversy over pay at taxpayer-supported firms. Treasury’s...
AIG Sells Taiwan Life Insurance Unit for $2.15 Billion
Oct 13 2009 // American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on...
AIG Stabilizing But Ability to Repay Government in Doubt
Oct 5 2009 // Insurer American International Group’s ability to restructure its business and repay billions of dollars to the U.S. government remains in doubt, U.S. congressional investigators said in a report. However, the...
Ironman Kevin Kelley: Strength Through Multiple Platforms
Oct 5 2009 // Ironshore’s CEO on Why He Left AIG and How He’s Building His Young Company In December 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30...
Not Business As Usual: AIG to Hold Low Cost Conference for Financial Advisers
Oct 2 2009 // American International Group Inc. is again hosting some of the top U.S. financial advisers and says that this time, the gathering at a California resort will cost it just $30,000. The insurer, sharply criticized for...
Ex-AIG Financial Exec Cassano Returns to U.S. As Probe Continues
Sep 29 2009 // Joseph Cassano has come home to face the music. The former AIG executive closely associated with one of the most sensational collapses in corporate history, recently slipped back into the United States. Under intensifying...
Report Warns Against Applying Systemic Risk Regulation to Insurers
Sep 22 2009 // Blame for the financial crisis and the near collapse of American International Group should reflect “the substantial evidence of fundamental failures in U.S. and foreign regulation of commercial banking, thrift...
As AIG Stabilizes, Greenberg’s Revised Bailout Under Consideration
Sep 21 2009 // Insurer American International Group Inc.’s once-desperate financial state has started to stabilize, a government agency said Monday, as an influential lawmaker said he would look at easing the terms of the...
AIG Stabilizing But Ability to Repay U.S. Unclear, Says Report to Congress
Sep 21 2009 // Insurer American International Group’s ability to restructure its business and repay billions of dollars to the U.S. government remains in doubt, U.S. congressional investigators said in a report released on...
Report: AIG Rebuffs CEO Benmosche’s Request for Private Jet
Sep 17 2009 // Bailed-out insurer AIG told its new chief executive Robert Benmosche that he could not use the company-owned jet for his personal use, Bloomberg News reported. Citing unnamed sources, Bloomberg said AIG’s board told...
Former General Re Executive Napier Gets Probation in AIG Fraud
Sep 15 2009 // A former executive of reinsurer General Re Corp. was sentenced to two years probation and fined $10,000 after pleading guilty to helping American International Group cook its books. U.S. District Judge Christopher Droney...
U.S. Prosecutors Eye Grand Jury on AIG Financial Products Chief
Sep 11 2009 // U.S prosecutors are preparing to impanel a grand jury to consider indicting the former head of American International Group’s Financial Products unit for securities fraud, the Wall Street Journal reported. The...
AIG May Use Tax Benefits of Selling Stakes to Repay U.S. Taxpayers
Sep 11 2009 // American International Group Inc. may sell stakes in its businesses, rather than shedding entire units, to repay U.S. government bailouts, retaining huge tax benefits, according to a source familiar with the matter. The...
AIG to Sell Asset Management Unit for $500M
Sep 8 2009 // American International Group Inc agreed Saturday to sell a part of its asset management business to Hong Kong tycoon Richard Li’s Pacific Century Group for about $500 million, in the first major asset sale under the...
AIG Pays $900K to Reconcile Mass. Workers’ Comp Payout Problems
Sep 8 2009 // AIG has paid an additional $900,000 to the Central Artery Tunnel (CA/T) Project in Massachusetts as part of an ongoing reconciliation of premiums and residual market payouts stemming from the insurer’s settlement of...
