Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s Troubles = Industry Troubles?
Aug 21 2008 // Willumstad is the wrong person for the job and would be even if these were good times. The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on...
People
Aug 21 2008 // W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley...
Business Moves
Aug 21 2008 // Sloan Mason Sloan Mason Insurance Services, a San Diego-based managing general agent and wholesale insurance broker, opened an office in Sacramento, Calif., to introduce specialty programs and coverages for underground...
AIG’s Troubles = Industry Troubles?
Aug 21 2008 // Willumstad is the wrong person for the job and would be even if these were good times. The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on...
AIG Introduces Basic Health Benefits for Private Staff
Aug 12 2008 // AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc. (AIG), introduced Basic Health Benefits for Private Staff. Available to full-time...
S&P Sees No Affect on AIG’s Ratings from Q2 Loss
Aug 8 2008 // Standard & Poor’s Ratings Services indicated that its ratings on American International Group Inc. – currently ‘AA-‘ with a negative outlook/Debt ‘A-1+’ – and AIG’s...
AIG CEO Ready to ‘Take a Scalpel’ to Reshape Insurer
Aug 8 2008 // American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led...
AIG’s Net Loss for Q2: $5.36 Billion; Conference Call Today, Details
Aug 7 2008 // American International Group confirmed analysts’ worst forecasts, as it posted a net loss for the second quarter of 2008 of $5.36 billion or $2.06 per diluted share compared to net income of $4.28 billion or $1.64...
Insurers Escape Big Q2 Mortgage Losses – So Far
Aug 5 2008 // The first read on insurance companies’ second-quarter earnings shows they’re taking hits from the same kinds of mortgage-backed investments as other financial firms, but so far, most companies haven’t had...
Wildfires Rekindle Need for Private Fire Protection Efforts
Aug 4 2008 // As wildfires seemingly increase in frequency and severity of insured losses year after year, insurers are devising fire prevention methods to protect their client’s properties — including hiring private...
What AIG’s Fall and New CEO Mean for the Insurance Industry
Jul 23 2008 // The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on how the market should function, has fallen off its pedestal. It not only has fallen,...
AIG Sets Pay, Bonus Target for New CEO Willumstad
Jul 21 2008 // American International Group Inc. said Friday in a regulatory filing that it will pay new Chief Executive Robert Willumstad a base salary of $1 million, and also set lucrative annual bonus and incentive pay targets. AIG...
Wildfires Bring Demand for Private Firefighters
Jul 17 2008 // Seated behind the wheel of a fire engine, Dave Breglia follows a map dotted with expensive homes threatened by wildfires. His job: protect high-end real estate and save an insurance company millions of dollars. “I...
AIG Targets Agribusiness Market
Jul 14 2008 // AIG Landmark, a unit of AIG Commercial Insurance, said it will begin offering multi-line insurance products to the agribusiness industry segment, including grower/packer/shippers, processors, handling and storage...
AIG, Vermont Mutual to Enter Mass. Personal Auto Insurance Market
Jul 14 2008 // Giant insurer American International Group has decided to enter the Massachusetts private passenger auto insurance market, according to The Boston Globe. But AIG is not alone. In addition, Vermont Mutual will begin selling...
AIG, Other Mortgage Insurers’ Stocks Fall on Mortgage Loss Fears
Jul 11 2008 // Shares of American International Group Inc, the world’s largest insurer, fell 8.2 percent Thursday on concerns that a rating cut at its mortgage insurance unit could signal more losses in the...
China Approves Beijing Branch for AIG General Insurance
Jul 8 2008 // American International Group, Inc. reported that its wholly owned subsidiary, AIG General Insurance Company China Limited, headquartered in Shanghai, Peoples Republic of China, has been granted approval by the China...
People
Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...
Willumstad Replaces Sullivan as AIG CEO
Jul 7 2008 // New Chief Sees ‘No Sacred Cows’ in Turnaround Plan; Ready to Divest of Non-Insurance Holdings American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on...
AIG Pays Former CEO Sullivan a Severance Package Worth $47 Million
Jul 1 2008 // American International Group Inc. said it paid a $47 million severance package to former Chief Executive Martin J. Sullivan, whose resignation took effect Tuesday. Sullivan, who left his position in mid-June after two...
