Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
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...
Key Lawmaker Wants AIG Internal Documents on CEO, Board, Pay
Sep 18 2008 // Rep. Henry Waxman, chairman of the U.S. House Committee on Oversight and Government Reform, has asked the new chief executive officer at American International Group Inc. to give his committee internal documents related to...
State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG
Sep 18 2008 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy Praeger today issued the following statement regarding American International Group (AIG): In times of crisis, the...
AIG Elects Liddy as CEO
Sep 18 2008 // American International Group, Inc. (AIG) announced that its board of directors has elected Edward M. Liddy as chairman and CEO. Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead...
AIG Will Sell Assets, But at What Price?
Sep 18 2008 // American International Group Inc. may not sell assets for as much as it would like, as it scrambles to meet terms of its U.S. government bailout. The giant insurer narrowly avoided bankruptcy late Tuesday after the U.S....
A.M. Best: AIG Ratings Remain Downgraded to ‘A’ and Under Review
Sep 18 2008 // A.M. Best Co. has reported that all financial strength ratings (FSR) and issuer credit ratings (ICR) of American International Group, Inc. (AIG) and its subsidiaries are unchanged from the downgrades it issued earlier this...
Washington Regulator Issues Statement on AIG
Sep 18 2008 // In response to consumer inquiries about insurance companies owned by the troubled financial conglomerate, American International Group (AIG), Washington Insurance Commissioner Mike Kreidler issued the following statement...
AIG Board Accused of Mismanagement by Pension Fund
Sep 18 2008 // A public pension fund has sued the chief executive and board of American International Group Inc, accusing them of mismanagement and “grossly imprudent risk taking” that led to the insurer’s $85 billion...
Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely
Sep 17 2008 // Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s...
Swiss Re Details Exposures: Lehman $46 Million; AIG $178 Million
Sep 17 2008 // Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5...
AIG Crisis Restarts Debate Over State vs. Federal Insurance Regulation
Sep 17 2008 // The crisis surrounding giant insurer American International Group has reignited the debate within insurance circles over whether state or federal regulation is preferable. The parent AIG got into trouble with credit...
For AIG, $85 Billion Might Not be Enough
Sep 17 2008 // American International Group’s deal with the government is a bankruptcy liquidation in all but name, and the $85 billion it has borrowed may not be enough extra money to pay off all its obligations, particularly in...
U.S. Looks to Former Allstate CEO Liddy to Run AIG
Sep 17 2008 // The U.S. government is betting former Allstate chief Edward M. Liddy is the safest pair of hands to oversee the dismantling of American International Group Inc. and prevent further unraveling of the world’s stressed...
AIG Woes Offer Double Benefit for Insurance Rivals
Sep 17 2008 // Insurance rivals stand to reap the benefits from the woes of American International Group, snapping up assets AIG is forced to sell while gaining greater pricing power as AIG pulls in its claws. Zurich Financial Services...
Greenberg Tells CNBC: Saving AIG is in ‘National Interest’
Sep 16 2008 // The man who built and ran global insurance giant American International Group for more than 35 years says it is in the “national interest that AIG survive.” Speaking in an interview on CNBC-TV, Maurice...
Greenberg’s C.V. Starr May Try to Take Over Struggling AIG
Sep 16 2008 // A company led by Hank Greenberg, a former chief executive of American International Group, may try to take over the insurer in a proxy fight or tender offer, according to a regulatory filing. Greenberg’s company,...
