Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
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’...
AIG to Sell 2 Manhattan Buildings for $150 Million
Jun 25 2009 // American International Group Inc. agreed to sell two downtown Manhattan buildings, including its headquarters, for a total of $150 million, a source familiar with the matter said. The two buildings, which are located at 70...
AIG in Deals to Reduce Debt to Public, Position 2 Life Units for Public Offerings
Jun 25 2009 // American International Group, Inc. (AIG) said it has penned an agreement with the Federal Reserve Bank of New York (FRBNY) that will reduce the debt AIG owes the FRBNY by $25 billion and position two of the company’s...
AIU Holdings Names Schimek Global CFO; Vows No Breakup of P/C Group
Jun 24 2009 // AIU Holdings, the property/casualty division of insurer AIG and one of the world’s largest commercial insurers, has tapped Robert Schimek to be its first global chief financial officer, a role that includes preparing...
States Seek to Join Federal Probe Into AIG Bonuses, Alleged ‘Half Truths’
Jun 22 2009 // U.S. states probing employee bonuses paid by American International Group Inc. using taxpayer money plan to join federal investigators in the matter, while leaving open the possibility of pursuing the case...
AIG vs. Greenberg Trial: AIG Never Involved in Management of Starr
Jun 22 2009 // Former American International Group Inc. chief Maurice “Hank” Greenberg told a federal jury on Friday that his former company at no time played a role in the management of Starr International, a private company...
AIG’s Taiwan Life Insurer Drawing Interest From J.C. Flowers, Fubon
Jun 19 2009 // Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise...
AIG vs. Greenberg Trial: Worries About Privately-Funded Pension Plan
Jun 19 2009 // International Group Inc. had questioned for years a retirement bonus plan for top managers because it was funded by a private company at no cost to AIG and that may have violated good governance standards, AIG’s...
AIG Picks Deutsche Bank, Morgan Stanley for Joint AIA IPO Role
Jun 18 2009 // Bailed out U.S. insurer American International Group has chosen Deutsche Bank and Morgan Stanley as its joint global coordinators for a more than $4 billion IPO of its Asian life insurance unit, sources said on...
AIG vs. Greenberg Trial: Stock Flown to Bermuda to Avoid Seizure
Jun 18 2009 // The former head of ailing U.S. insurance giant AIG told a court Wednesday that he had a private jet fly a large block of the company’s stock to Bermuda from New York to prevent AIG from seizing it. “It was a...
Former General Re Executive Given Probation
Jun 18 2009 // A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John...
Ex-CEO Greenberg: No Fiduciary Duty to Fund AIG Compensation Plan
Jun 17 2009 // Maurice “Hank” Greenberg, former chief executive of insurer AIG, testified before a federal jury on Tuesday that he did not have a fiduciary duty to fund an AIG compensation plan. “I did not view myself...
Special Examiner To Oversee AIG’s California Insurance Operations
Jun 17 2009 // As American International Group (AIG) continues its restructuring, California Insurance Commissioner Steve Poizner has appointed a special examiner to assist in the monitoring of AIG’s insurance...
Lawyers Hurl Opening Volleys in Trial of AIG Against Ex-CEO Greenberg
Jun 17 2009 // Witnesses began testifying Tuesday in the civil trial of American International Group Inc.’s former top executive, accused of plundering an AIG retirement program of billions of dollars. Attorney Theodore Wells told...
Obama Insurance Views Mirror Those of P/C Agents, Insurers, Regulators
Jun 17 2009 // The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the...
AIG Stock Fight With Ex-CEO Greenberg Heads to Trial
Jun 12 2009 // AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for...
New York Investment Firm, South Korean Bank to Buy AIG Buildings
Jun 10 2009 // A consortium including a New York investment firm and a Korean bank agreed to buy American International Group Inc.’s New York headquarters, the broker, CB Richard Ellis, said Tuesday. Youngwoo & Associates and...
