Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG, 6 Other Bailed Out Firms to Report Executive Pay by Aug. 13
Jul 29 2009 // Seven financial and automotive companies that have received “exceptional” government aid face an Aug. 13 deadline to submit compensation plans to the U.S. Treasury Department’s executive pay czar, people...
Consumer Group Urges Congress to Curb Insurers’ Risky Behavior
Jul 28 2009 // A large U.S. consumer group urged Congress Tuesday to clamp down on insurers’ risky practices after last year’s near collapse of AIG due to its foray into exotic derivative instruments. The Consumer Federation...
Chartis: Other Firms Share AIG’s New Name; Is It a Name to Remember?
Jul 28 2009 // A U.S. health care advisory group and a London-based risk technology research firm share something in common with American International Group’s (AIG) new brand Chartis Insurance: a name. But it’s doubtful they...
Chartis’ Moor Maps Out 20% Sale, Other Steps in Separating from AIG
Jul 27 2009 // Bailed-out insurer American International Group Inc. rebranded its property/ casualty business under the name Chartis Monday and said it would put the equity for the division into a separate company — key steps...
AIG Withholds $2.4 Million in Bonuses for Senior Managers
Jul 23 2009 // American International Group Inc., the insurer that has received billions of dollars in federal aid, withheld $2.4 million in bonuses due to be paid to dozens of senior managers on July 15. The AIG decision was disclosed...
Best Affirms Ex-AIG Personal Lines Company Ratings; Outlooks Stable
Jul 21 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSRs) of ‘A’ (Excellent) and issuer credit ratings (ICRs) of “a” of the operating insurance units of the former AIG Personal Lines Group,...
Business Moves
Jul 20 2009 // Focus Holdings, Capacity Insurance Focus Holdings, LLC in Sunrise, Florida, closed on its acquisition of Capacity Insurance Co. (CIC), a Florida domestic commercial lines insurer, effective July 1, 2009. Focus, better...
Business Moves
Jul 20 2009 // AIG, 21st Century Insurance, Farmers Group Inc. American International Group has closed the sale of 21st Century Insurance Group, the wholly owned subsidiaries of AIG’s U.S. personal auto insurance business, to...
AIG Sells Mexican Consumer Finance Operations
Jul 20 2009 // American International Group, Inc. announced that it has closed the sale of its consumer finance operations in Mexico, consisting of AIG Universal, S.A. de C.V., SOFOM E.N.R. and Markcenter Services, S. de R.L. de C.V, to...
Source Says Prudential in Talks with AIG to Buy Japanese Life Units
Jul 16 2009 // American International Group is in talks with a Prudential Financial Inc. unit to sell two Japanese life insurers, a person familiar with the matter said Wednesday. The talks for AIG Edison Life Insurance Co and AIG Star...
AIG Speeds Up Life Insurance Unit IPO
Jul 15 2009 // American International Group, Inc. (AIG) today announced it will accelerate steps to position American Life Insurance Co. (ALICO) as an independent entity and seek an initial public offering and public listing in New York,...
AIG to Pay More Executive Bonuses
Jul 10 2009 // American International Group is preparing to pay next week millions of dollars more in bonuses to dozens of corporate executives, a source familiar with the development said. AIG has been talking with Washington’s...
S&P Lowers AIG’s Personal Lines Subs, 21st Century Ratings
Jul 9 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on the personal lines operating insurance units of 21st Century Insurance Group and American International...
Billions At Stake Over Trust in Trial of AIG v. Ex-CEO Greenberg
Jul 7 2009 // Maurice “Hank” Greenberg, former chief executive of American International Group Inc., fabricated documents and lied under oath in a bid to rewrite history and cloud who is the rightful beneficiary of a...
Jury Rules for Ex-CEO Greenberg Over AIG in Starr Case
Jul 7 2009 // A company run by former AIG CEO Maurice “Hank” Greenberg did not plunder billions from a retirement fund, a jury ruled, dashing the bailed-out insurer’s chances of collecting $4.3 billion in...
AIG Finalizes Sale of U.S. Personal Auto Insurance Units to Farmers
Jul 1 2009 // American International Group, Inc. (AIG) has closed the sale of 21st Century Insurance Group, the wholly owned subsidiaries of AIG’s U.S. personal auto insurance business, to Farmers Group, Inc. (FGI), a subsidiary...
AIG Elects New Directors; Few Air Grievances at Annual Meeting
Jul 1 2009 // American International Group Inc. got a new slate of government-backed directors at a subdued annual meeting on Tuesday, effectively revamping its board after the insurer’s $180 billion taxpayer bailout. The meeting...
AIG Shareholders Vote on New Directors Today
Jun 30 2009 // American International Group Inc., the insurer rescued by a series of federal bailouts, is set to pad out its shrinking board Tuesday when a new slate of directors stands for election at its annual meeting. The nominees...
AIG: ‘Excellent’ Chance It Will Repay Government; New CEO Likely Soon
Jun 30 2009 // American International Group Inc., the insurer rescued by $180 billion of federal bailouts, on Tuesday expressed optimism it will be able to repay government loans as it tries to rebound from punishing losses tied to...
AIG Lobbied Congress to Ease Accounting Rules, FASB Chief Says
Jun 29 2009 // The top U.S. accounting rulemaker denounced the “politicization” of accounting standards on Friday, three months after he was pressured by Congress to make changes that would help banks’...
