Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Former Gen Re Exec Gets 1-Year Sentence
May 1 2009 // A former executive at General Re Corp. has been sentenced to a year in prison for his role in a scheme to artificially inflate the stock price of American International Group. Robert D. Graham, 61, was sentenced yesterday...
AIG’s P/C Arm Eager to Split, New Name in Question
Apr 30 2009 // American International Group’s property/casualty division is moving swiftly to break ties with its parent company, setting itself up to be a stand-alone company, said AIG Chief Executive Edward Liddy. But the name...
Regulator Sees Mergers Coming in Weakened Life Insurance Sector
Apr 29 2009 // U.S. life insurers, weakened by the global financial crisis, are in for mergers and regulators will not shy away from playing matchmaker to deal with weak companies, Eric Dinallo, New York’s insurance superintendent,...
Probe of AIG Financial Products Unit Focusing on 3 Executives
Apr 29 2009 // Federal investigators are focusing their attention on three employees at American International Group Inc.’s financial products unit amid a probe into derivatives contracts that nearly destroyed the insurance giant,...
AIG’s Title as World’s Largest Insurer Gone Forever
Apr 29 2009 // American International Group Chief Executive Edward Liddy is inching toward several more asset sales, has plans for a trio of initial public offerings, and expects the financial products unit to be a much smaller problem...
AIG a Lesson for European Watchdogs
Apr 28 2009 // AIG’s near collapse is a credit-crunch case study in how Europe can improve supervision of big cross-border insurers, a top EU market regulator said on Monday. The American insurer has received nearly $180 billion in...
Defendant in General Reinsurance, AIG Fraud Faces Sentencing
Apr 28 2009 // A former General Re senior vice president faces sentencing for his role in an accounting fraud scandal that artificially inflated the stock price of insurer American International Group Inc. Robert Graham is scheduled to...
AIG, Congress and Law of Unintended Consequences
Apr 27 2009 // When corporations want to borrow large sums of money they usually rely on selling bonds. Introductory college finance courses always include a chapter covering interest rates and bonds. So, much of the information I...
AIG Names Winter, Vice Chairman; Hurd, Vice President
Apr 24 2009 // American International Group Inc. (AIG) named Matthew E. Winter, 52, AIG senior vice president, president and CEO of American General Life Cos., has been named vice chairman, Transition Planning and Administration,...
California AIG Sylmar Wildfire Survivors To Receive Additional Coverage
Apr 22 2009 // The California Department of Insurance (CDI) has secured between $37 million and $46 million in additional coverage from AIG for Sayre Fire survivors in Sylmar. Commissioner Poizner was joined by Los Angeles City...
S&P Sees AIU Holdings Vehicle as Boost to Insurer’s Financial Flexibility
Apr 22 2009 // Standard & Poor’s Ratings Services said that its ratings on American International Group Inc. (AIG; A-/Negative/A-1) and its insurance subsidiaries (A+/Negative/–) are not affected by AIG’s...
Q&A: AIG’s New AIU Tries to Rebrand In Challenging Market
Apr 21 2009 // Last month, shortly after American International Group, Inc. CEO Edward Liddy announced that AIG would be spinning off its global insurance operations into a new entity to be known as AIU Holdings, Inc., Insurance...
AIG Creates AIU Holdings; Prepares for Potential Sale of Minority Stake
Apr 21 2009 // American International Group, Inc. (AIG) today took the first steps to position the rebranding of its insurance units as an independent entity, AIU Holdings, by transferring the company to a special purpose vehicle (SPV)...
A.M. Best Calls AIU Vehicle ‘Positive First Step’ in AIG Insurance Rebranding
Apr 21 2009 // Rating organization A.M. Best Co. reported that its ratings and outlook of the property/ casualty subsidiaries of American International Group, Inc. (AIG) remain unchanged following the company’s announcement of the...
A New York State of Mind
Apr 20 2009 // Superintendent Eric Dinallo Redefines the Role of Regulator in the Insurance Industry New York Insurance Superintendent Eric Dinallo was thrust into the national spotlight last year as the insurance industry’s...
Business Moves
Apr 20 2009 // Munich Re German reinsurer Munich Re has successfully concluded the acquisition of specialty insurer HSB Group from American International Group for $739 million. The deal was originally announced last December. The...
AIG Completes Sale of Private Bank to Aabar Investments
Apr 17 2009 // American International Group, Inc. (AIG) announced that it has completed the sale of AIG Private Bank Ltd., a wholly owned subsidiary of AIG, to a subsidiary of Aabar Investments PJSC , a global investment company based in...
U.S. Lawmaker Urges AIG CEO Liddy to Quit Over Goldman Sachs Stake
Apr 17 2009 // A U.S. congressman Thursday expressed concern about a stake in Goldman Sachs Group Inc. held by Edward Liddy, CEO of bailed-out insurer American International Group Inc., and urged him to quit. Liddy owns shares and...
AIG May Sell U.S. Auto Unit to Zurich
Apr 16 2009 // American International Group is close to a deal to sell its U.S. auto insurance business to Swiss insurer Zurich Financial Services for roughly $1.5 billion, a source familiar with the matter said on Wednesday. A deal...
Farmers To Acquire AIG’s Personal Auto Group for $1.9 Billion
Apr 16 2009 // Los Angeles-based the Farmers Insurance Group of Companies has announced it will acquire American International Group’s (AIG’s) Personal Auto Group, which includes 21st Century Insurance Co. The acquisition...
