Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
New York Insurance Chief Dinallo’s U.S. Senate Testimony on AIG
Mar 5 2009 // Testimony by New York Insurance Superintendent Eric Dinallo to the United States Senate Committee on Banking, Housing and Urban Affairs Hearing on “American International Group: Examining What Went Wrong, Government...
AIG’s AIA Gets Prudential (UK), Manulife Offers; China Life Declines
Mar 4 2009 // The UK’s Prudential Plc and Canada’s Manulife Financial Corp made preliminary offers for American International Group Inc.’s Asian unit, but Prudential’s offer fell short of what AIG wants for the...
Bernanke Defends AIG Rescue, Says U.S. Had No Choice
Mar 4 2009 // U.S. Federal Reserve Chairman Ben Bernanke Tuesday defended the government’s latest bailout of embattled insurer AIG, telling irate lawmakers that he was also angry, but that the failure to act could have triggered...
S&P Says Rating Actions on AIG Have No Effect on Transatlantic
Mar 4 2009 // Standard & Poor’s Ratings Services has said that its rating actions on American International Group Inc. and its insurance subsidiaries “have no effect on the ratings on Transatlantic Holdings Inc. (TRH...
AIG Restructuring Chief Reynolds Has Tough Job in Tough Market
Mar 3 2009 // Paula Rosput Reynolds has a job that would daunt some of the most experienced Wall Street veterans — restructuring American International Group Inc. by selling assets in the midst of a severe credit crunch. Reynolds,...
Analysis: AIG Meltdown Has Roots in Greenberg Era
Mar 3 2009 // Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently...
Federal Reserve in Uncharted, Risky Territory with AIG Investment
Mar 3 2009 // The U.S. Federal Reserve, by taking an equity stake in American International Group, is moving further into uncharted territory and may be risking potentially large investment losses and its independence. As part of the...
Best, S&P See No Change in AIG’s Ratings, But Outlook Remains Negative
Mar 3 2009 // A.M. Best Co. and Standard & Poor’s Ratings Services have both issued statements in relation to American International Group’s announcement of a $61.7 billion fourth quarter loss, and the subsequent...
AIG Reports $62B Loss for Q4; $99B for Year
Mar 2 2009 // American International Group Inc. posted a $61.7 billion fourth-quarter loss — its fifth consecutive quarterly loss and the biggest quarterly loss in corporate history. The quarter’s net loss of $61.7 billion...
Ex-CEO Greenberg Sues AIG, Alleges Securities Fraud
Mar 2 2009 // American International Group Inc., whose $61.66 billion quarterly loss was the largest ever for a U.S. company, has been sued for securities fraud by former Chief Executive Maurice “Hank” Greenberg. Greenberg,...
U.S. Commits Another $30 Billion To Bolster AIG; P/C Business Spinoff Planned
Mar 1 2009 // The U.S. government threw a new $30 billion lifeline to American International Group Inc. Sunday as the embattled insurer prepared to report the biggest quarterly loss in corporate history. AIG’s board approved a new...
Terms of Latest U.S. Rescue of AIG
Mar 1 2009 // American International Group and the U.S. government agreed on a revised rescue package for the giant insurer Sunday. Here are the key terms of the deal, according to sources: A $30 billion equity commitment from the U.S....
Easing Government Aid Terms Among Options Discussed by AIG, U.S.
Feb 27 2009 // The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under...
Texas Regulators Continue to Monitor AIG’s Financial Status
Feb 27 2009 // The Texas Department of Insurance announced it is continuing to closely monitor the financial status of American International Group Inc. (AIG) in light of recent national media reports. TDI said it is engaged in regular...
U.S. Senate Panel Sets March 5 Hearing on AIG
Feb 26 2009 // The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice...
AIG Mulls Further Government Stakes As Auction Deadline Looms
Feb 26 2009 // Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a...
Gen Re to Pay $72M for Finite Reinsurance Transaction
Feb 26 2009 // General Re Corp., a reinsurance unit of billionaire Warren Buffett’s Berkshire Hathaway Inc., agreed to pay $72 million to settle investor claims about its role in a fraudulent transaction involving American...
AIG’s Hopes for Sale of Asian Life Unit AIA Rest With 3 Bidders
Feb 25 2009 // Three potential bidders remain interested in the sale of a large stake in American International Group’s $20 billion Asian life insurance unit, people close to the matter said on Wednesday, as the auction heads into...
AIG Gets $500 Million Bids for Asset Management Business
Feb 25 2009 // American International Group Inc.’s asset management business has attracted corporate and private equity buyers with initial bids coming in around $500 million, sources familiar with the matter said. The asset...
AIG May Rethink Strategy of Asset Sales in Tough Markets
Feb 25 2009 // American International Group Inc., which is trying to dispose of assets to pay back the U.S. government after a bailout last year, will rethink its sales strategy if tough market conditions keep it from getting a good...
