Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Less Than Stellar
Nov 30 2008 // The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On the...
California Wildfires May Take Longer to Settle
Nov 30 2008 // 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. Comparatively, those losses are...
Lloyd’s Expects U.S. To Adopt Federal Regulation of Insurance
Nov 30 2008 // Pushed by the global economic crisis, the United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to some financial and insurance executives. Federal regulation —...
Steady Habits Make for a Stable Market
Nov 30 2008 // Regulator Says Nutmeg State Will Take AIG and Catastrophe Problems in Stride Connecticut Insurance Commissioner Thomas Sullivan considers himself something of an insider when it comes to the insurance industry –...
Declarations
Nov 30 2008 // Dear Elaine: Send Money “Given the bearish economic forecasts for the next two to three years, we anticipate the unemployment rate will continue to rise significantly. It is essential that our states have sufficient...
AIG Uses Sale of Stock to U.S. Treasury to Lower Loan Amount
Nov 26 2008 // American International Group, Inc. (AIG) reported that it will use the proceeds from a U.S. Treasury purchase of some of its preferred stock to reduce what it owes the federal government. The Treasury bought four million...
CEO Gets $1 As AIG Adopts Salary Restrictions for Top Executives
Nov 25 2008 // American International Group, Inc. (AIG) announced voluntary restrictions on executive compensation that include a $1 salary for its chief executive officer; no 2008 annual bonuses and no salary increases through 2009 for...
China Life Interested in Acquring AIG Asia Assets
Nov 24 2008 // China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on...
New York AG Settlement with ex-AIG Chief Greenberg Breaks Down
Nov 24 2008 // Efforts to settle a long-running fraud lawsuit against American International Group Inc.’s former chief, Maurice “Hank” Greenberg, have broken down amid the insurer’s financial woes, a lawyer from...
Report China Fund Seeks Stake in AIG Unit
Nov 21 2008 // A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG, in a deal that could be worth up to $10.6 billion, Japan’s...
AIG Discloses $3 Million to be Paid in Deferred Compensation
Nov 19 2008 // American International Group Inc., the insurer getting a $152 billion federal bailout, in a regulatory filing late on Tuesday disclosed it would pay roughly $3 million to several executives under deferred compensation...
Lloyd’s Expects U.S. To Adopt Federal Regulation of Insurance
Nov 19 2008 // Pushed by the global economic crisis, the United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to some financial and insurance executives. Federal regulation in the...
Mississippi Rebuilds Its Insurance Markets
Nov 16 2008 // Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his...
Texas Regulators Respond to AIG Financial Developments
Nov 14 2008 // With the U.S. Treasury and the Federal Reserve Board pouring more money into loans for American International Group Inc. (AIG) hoping to keep the financial giant afloat, the Texas Department of Insurance (TDI) issued a...
AIG to Terminate Voluntary Deferred Compensation Plans
Nov 14 2008 // American International Group Inc. said on Friday that it is terminating 14 voluntary deferred compensation programs involving 5,600 employees and independent agents and representatives. Approximately $500 million in earned...
Ex-CEO Greenberg Sees Value in AIG Asian Operations
Nov 13 2008 // Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the...
Meltdown 101: Why Did the AIG Bailout Get Bigger?
Nov 12 2008 // It’s a $150 billion gamble. That’s the size of the newly enlarged financial lifeline the U.S. government threw tottering insurance giant American International Group on Monday, expanding an aid package...
AIG Outlines Revised Bailout Plan
Nov 10 2008 // American International Group, Inc. (AIG) today announced agreements with the U.S. Treasury and the Federal Reserve to establish a durable capital structure for AIG, and facilities designed to resolve the liquidity issues...
AIG Reports $24B Loss in Q3; Claims ‘Strong’ Client Retention
Nov 10 2008 // Giant financially-troubled insurer American International Group Inc. posted its largest-ever quarterly loss today– $24.47 billion — as the damage from write-downs on assets related to subprime mortgages...
AIG Deal Revamp Seen Halting Losses, Says Fed Official
Nov 10 2008 // The U.S. government retooled a rescue package for insurer American International Group to take advantage of its new ability to inject capital into the firm, a senior Federal Reserve official said on Monday. Taking an...
