Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s Boren, O’Brien to Head New Ironshore Environmental Insurance Unit
Jan 6 2009 // Bermuda-based Ironshore Inc. announced that Joe Boren and John O’Brien have joined as CEO and president, respectively, of its newly established Environmental Insurance facility. The company said the new unit will...
Johnston Named CEO of AIG Environmental; Hanna Named COO
Jan 6 2009 // AIG has named Russell Johnston as president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston assumes management responsibility for AIG Environmental from Joseph Boren, who has left the company to...
AIG’s Lexington to Manage AIG Public Entity Casualty Insurance Accounts
Jan 6 2009 // AIG Commercial Insurance will service all casualty insurance coverage for the public sector through its Lexington Insurance Co., the insurer announced. Specifically, effective as of Jan. 1, 2009, Lexington’s Casualty...
2008: Top Stories of the Year
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Former AIG CEO Willumstad Foregoes Some Stock Awards
Dec 31 2008 // Former AIG chief executive Robert Willumstad will forego stock awards he was granted as part of his agreement to step into the insurer’s top post last June, the company said in a regulatory filing on...
AIG Buys $16 Billion of Collateralized Debt Obligations It Insured for Default
Dec 29 2008 // American International Group says it purchased $16 billion of complex financial instruments in an effort to reduce its exposure to insurance guarantees written against the instruments. The insurer bought investments known...
Zurich Insurance Says It’s Actively Looking for Acquisitions
Dec 23 2008 // Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in...
Navigators Launches Environmental Unit; AIG’s Robinson Named VP
Dec 22 2008 // Navigators Management Co. has established Navigators Environmental, a new business unit that will focus on underwriting specialized environmental insurance products on a global basis. Adrien Robinson has joined Navigators...
2008 Quotes to Remember… and Forget
Dec 21 2008 // “You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Warren Buffett on the credit crisis “As a strong supporter...
2008: A Year of Financial Storms
Dec 21 2008 // 2008 can be described as a year like no other in the property/casualty insurance world. This year, the industry witnessed the near death of the world’s largest and most successful insurance company, AIG. The soft...
The View From London
Dec 21 2008 // Insurers Can Weather Global Financial Crisis Buyers that aren’t buying; houses that aren’t selling, banks that aren’t lending — sound familiar? But in this case it’s the United Kingdom that...
AIG Shareholder Suit Settled
Dec 19 2008 // A Delaware judge has approved a $115 million settlement in a shareholder lawsuit against former executives of insurance giant American International Group. The settlement approved this week was reached in September, just...
Michigan Man Files Suit to Stop AIG Bailout on Religious Grounds
Dec 17 2008 // A Michigan man is challenging the government’s bailout of American International Group Inc., claiming the move is illegal because the insurer has financial products that promote Islam and are anti-Christian. The...
Lawsuit Seeks to Stop U.S. Bailout of AIG as Anti-Christian, Anti-U.S.
Dec 16 2008 // A Michigan–based Christian rights group has filed suit against the federal government claiming the government’s loan to insurance giant American International Group (AIG) is illegal because AIG has financial...
AIG Sells Residential Mortgage-Backed Securities Portfolio to Government
Dec 16 2008 // American International Group’s life insurance companies have sold residential mortgage-backed securities with a face value of $39.3 billion to the Federal Reserve Bank of New York (FRBNY) as part of its efforts to...
Ex-General Re Chief Ferguson Sentenced 2 Years for Fraud
Dec 16 2008 // A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal...
AIG Promotes Mucerino, Thomas, Portalatin, Baugh at International Unit
Dec 12 2008 // American International Underwriters (AIU), the ), the international property/casualty insurance organization of American International Group, Inc. (AIG), announced a number of executive appointments. Ralph Mucerino, senior...
Maryland’s Rep. Cummings Seeks Details on AIG ‘Retention Payments’
Dec 12 2008 // Congressman Elijah E. Cummings (D-Md.), a senior member of the House Committee on Oversight and Government Reform and a member of the Joint Economic Committee, wants more information on employee retention payments being...
Insiders Say AIG Slashing Prices to Win Business in Moves That May Burn Rivals, Taxpayers
Dec 11 2008 // American International Group Inc. is cutting prices to win new business and boost market share, competitors and others in the industry say, but taxpayers could again be stuck with the tab. Since a U.S. government bailout,...
AIG CEO Liddy Says Asset Sales May Be Delayed
Dec 11 2008 // The CEO of U.S. insurer American International Group (AIG), which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans,...
