Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Report: AIG Eyes Federal Backstop on Assets, Recapitalization Options
Feb 2 2009 // American International Group, the insurer rescued from collapse by the government in September, is in discussions with Washington about a federal backstop for some of its assets, The Wall Street Journal reported...
Greenberg Fights New York AG to Keep Reinsurance Testimony Private
Feb 2 2009 // Maurice “Hank” Greenberg, former chief executive of American International Group Inc., has gone to court to prevent New York’s attorney general from releasing testimony Greenberg gave in a state lawsuit...
Former AIG Vice President Sentenced to 4 Years for Reinsurance Scheme
Jan 28 2009 // The former vice president of reinsurance of American International Group Inc. (AIG) has been sentenced to four years in prison for his role in a fraudulent scheme to manipulate AIG’s financial statements, according...
AIG to Sell Latin American Consumer Finance Units
Jan 26 2009 // American International Group Inc is selling its consumer finance businesses in Latin America, including a unit in Colombia it bought just last year, as the insurer sheds assets to pay back the U.S. government, according to...
AIG Global Real Estate to Sell Fund Management Business
Jan 26 2009 // AIG Global Real Estate (“GRE”) has plans to divest its Fund Management Business, which operates 15 existing fund programs with over $12.4 billion in assets under management and $5.2 billion in equity capital...
Former AIG CEO Greenberg, Ironshore in Joint Excess Casualty Venture
Jan 26 2009 // Maurice “Hank” Greenberg, the man who ran American International Group for nearly 40 years and who now runs C.V. Starr & Co., is being reunited with some executives who used to work under him when he ran...
People
Jan 25 2009 // The Insurance Marketing and Communications Association named Richard Look president. He is a marketing communications veteran with agency and insurance company experience, and currently serves as vice president of...
People
Jan 25 2009 // Risk management and insurance services provider IMA of Texas Inc. announced additions to its Health Care, Employee Benefits and Surety departments. Michael J. Jacoby has been hired as vice president and national director...
People
Jan 25 2009 // American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within...
Ex-CEO Greenberg Protests AIG Sale of Asian Life ‘Crown Jewel’
Jan 23 2009 // Former AIG Chief Executive Maurice “Hank” Greenberg said in a letter Thursday the insurer should halt asset sales until the new administration in Washington can assess what is best for the now...
Ironshore Creates U.S. P/C Operation Run By Former AIG Execs
Jan 22 2009 // Ironshore Inc. has appointed Steven England as executive vice president responsible for running its newly created U.S. Property/ Casualty underwriting operations based in St. Louis, Missouri. The new unit, Ironshore...
Federal Affairs Chief Merski Latest Executive to Join Zurich from AIG
Jan 16 2009 // Zurich Financial Services Group Inc., which has been on a recruitment spree, said Rich Merski, a former AIG executive, is joining the insurer as head of federal affairs in the United States. Merski most recently managed...
AIG Is Lead Insurer on Airplane Downed in Hudson River
Jan 16 2009 // American International Group Inc. said Friday it was the lead insurer on the US Airways passenger jet that went down in Manhattan’s Hudson River on Thursday. An AIG spokesman, John Jones, said he could not provide...
Citigroup’s Pretto Joins AIG to Oversee Corporate Media Relations
Jan 15 2009 // American International Group, Inc. (AIG) announced that Christina Pretto has joined AIG as vice president for Corporate Media Relations. Pretto will oversee all aspects of AIG’s corporate media relations, including...
AIG Gets Bids for Aircraft Leasing Unit; Shops Asset Manager
Jan 13 2009 // American International Group Inc., moving ahead with asset sales, has received the first round of bids for its aircraft leasing unit, and is expected to start shopping its asset management business soon, people familiar...
BMO Financial Agrees to Buy AIG Life of Canada for $308 Million
Jan 13 2009 // American International Group, Inc. (AIG) announced today an agreement to sell AIG Life Insurance Co. of Canada to BMO Financial Group. Under the terms of the transaction, BMO will acquire AIG Life of Canada for...
AIG Client Sues Northrop Grumman Over Fatal 2005 Seaplane Crash
Jan 12 2009 // The maker of a vintage seaplane that crashed off Miami Beach in 2005, killing 20 people, is being sued in federal court. Federal investigators blamed faulty repair and inadequate government regulation for the crash of the...
People
Jan 11 2009 // Jim Johnstone has joined Westbrook, Conn.-based The Gowrie Group of Cos. as a producer in the Boat/Yacht department. Jim brings deep marine and sailing industry expertise that will enable Gowrie to broaden its reach into...
Reading Between the Whines
Jan 11 2009 // There are several near-constants in an insurance editor’s life when a new year rolls around. There’s the inevitable mistake of putting last year’s date on this week’s article. There’s the...
California Wildfires May Take Longer to Settle
Jan 11 2009 // Industry analysts are predicting insured losses from the Freeway Complex, Sayre and Tea Fires that burned Southern California in mid-November will range from $600 million to $800 million, as of estimates gathered in early...
