Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Best to Hold Conference Today on Ike, AIG Rating, Other P/C Events
Sep 24 2008 // A.M. Best announced that a number of leaders of its insurance ratings team will address a variety of important property/casualty market issues in an online briefing set for today, Wednesday, September 24 at 9 a.m. Eastern...
Berkshire Hathaway’s Buffett Considering Purchase of AIG Assets
Sep 24 2008 // Billionaire investor Warren Buffett said Wednesday his Berkshire Hathaway Inc. insurance and investment company would consider buying some units from American International Group Inc., the insurer bailed out by the U.S....
New York Insurance Chief Urges Caution on AIG Policy Switching
Sep 23 2008 // AIG’s insurance companies are financially sound, with substantially more in assets than they need to pay all valid present and projected claims, New York Insurance Superintendent Eric Dinallo said. Dinallo also...
New York to Begin Regulating Part of Credit Default Swap Market
Sep 23 2008 // New York Governor David A. Paterson said that New York State will, beginning in January, regulate part of the credit default swap market which has to date been unregulated and has been a major contributor to the emerging...
FBI Probing Fannie, Freddie, Lehman, AIG for Potential Mortgage Fraud: CNN
Sep 23 2008 // The FBI is investigating Fannie Mae, Freddie Mac, Lehman Brothers Holdings Inc. and insurer American International Group Inc. and their senior executives for potential mortgage fraud, CNN reported on Tuesday. The FBI did...
AIG Signs Definitive Agreement with Fed of New York for $85B Credit Facility
Sep 23 2008 // American International Group Inc. (AIG) announced that it has signed a definitive agreement with the Federal Reserve Bank of New York for a two-year, $85 billion revolving credit facility. Interest will accrue at a rate...
AIG Singapore Head Resigns
Sep 22 2008 // The head of the Singapore unit of troubled insurance giant American International Group Inc. resigned Friday after 14 years with the company. Mark O’Dell, general manager of AIA Singapore, has left and Executive Vice...
Disaster Fatigue
Sep 22 2008 // After President George W. Bush surveyed the damage along the Texas Gulf Coast just days after Hurricane Ike rammed its way onto Galveston Island, he urged Americans not to succumb to “disaster fatigue” and to...
Credit Rating Agencies’ Cuts on AIG Signal Downgrades Ahead
Sep 21 2008 // Credit rating agencies, criticized for moving too slowly in cutting ratings on Wall Street firms and the complex instruments they devised, are now accused of acting too quickly. As the credit crisis enters a new phase, the...
AIG’s First Half Showed Slump
Sep 21 2008 // American International Group Inc., which was bailed out by an $85 billion government loan last week, not only has posted billions of dollars in losses in its financial services operations but its more traditional insurance...
Chicago’s Mayor Hits AIG Bailout; Other Midwest Officials More Positive
Sep 19 2008 // Midwestern reaction to the bail out of insurance giant American International Group (AIG) varies by regions and officials. In Chicago Mayor Richard Daley is not happy about the Federal Reserve Bank’s decision to...
Some See Spitzer Role in AIG Crisis
Sep 19 2008 // Lost by many in the week’s financial markets’ nightmare were ghosts of Wall Street past. Some in business and politics are blaming the need for Tuesday’s historic federal bailout for American...
New AIG CEO Liddy: Insurer’s ‘Mess is Solvable’
Sep 19 2008 // American International Group Inc., which narrowly escaped financial collapse this week, on Thursday said it had named Edward Liddy as chairman and chief executive. Liddy succeeds Robert Willumstad, who is leaving after...
California Commissioner Issues Statement on AIG
Sep 19 2008 // Responding to the federal government’s bail-out of AIG, California Insurance Commissioner Steve Poizner issued the following statement, noting the two dozen companies under the AIG corporate umbrella that are...
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
Ark., La. Commissioners Reassure Policyholders After AIG Bailout
Sep 18 2008 // Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance...
S&P Says AIG Ratings “Developing;’ Short-Term Ratings Raised
Sep 18 2008 // Standard & Poor’s Ratings Services has revised the CreditWatch status of most of its ratings on the AIG group of companies to CreditWatch developing from CreditWatch negative. The revisions affect its...
Rhode Island Acts to Safeguard Investments Managed by AIG
Sep 18 2008 // Rhode Island is acting to safeguard the estimated $131 million it has in investment accounts managed by financially struggling insurance giant American International Group. State officials have formed a “SWAT...
N.Y. Gov Paterson Praises Insurance Chief Dinallo on AIG Rescue
Sep 18 2008 // New York officials helped giant insurer American International Group Inc. strike a historic loan deal with the Federal Reserve on Tuesday night to keep AIG afloat and avoid another fiscal crisis for the state. Gov. David...
Ratings Recap: AIG (Taiwan) Lehman Re, Swiss Re (Denmark), Connaught, Allianz (Austria), China Ins. (Singapore)
Sep 18 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from...
