Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Ratings Recap: Euler Hermes, Ascot, Tokio Marine Retakaful, Toa Re
Oct 4 2007 // Standard & Poor’s Ratings Services has raised its long-term counterparty and insurer financial strength ratings on U.K.-based surety insurer Euler Hermes Guarantee PLC to ‘AA-‘ from ‘A’...
21st Century is Now aigdirect; AIG Names Leaders; Announces Layoffs
Sep 27 2007 // American International Group, Inc. reports it has completed the previously announced merger of a wholly owned subsidiary of AIG with 21st Century Insurance Group. Upon consummation of the merger, AIG acquired the 39.3...
AIG Introduces Coverage for Political Campaign Committees
Sep 26 2007 // AI Risk Specialists Insurance Inc. (AI Risk), a wholly owned brokerage subsidiary of American International Group Inc. (AIG), introduced LexElect, a multi-line insurance program designed specifically to address risks faced...
Business Moves
Sep 24 2007 // HRH, Bank of America Insurance broker Hilb Rogal & Hobbs Co. has agreed to purchase Banc of America Corporate Insurance Agency, L.L.C., a segment of Bank of America, N.A., and a middle market insurance intermediary in...
AIG Introduces Coverage for Global E&O Liability Needs
Sep 24 2007 // The AIG Cos. introduced a service called AIG Passport for multinational companies’ errors and omissions (E&O) liability insurance to facilitate purchasing locally admitted E&O coverage to cover their...
Two Adjusters Allege AIG Violated Federal Overtime Rule
Sep 19 2007 // Two insurance adjusters employed by giant insurer American International Group say they have filed a collective action under the Federal Fair Labor Standards Act asserting that AIG intentionally misclassified hundreds of...
AIG Donates $300,000 to Peru Disaster Relief Fund
Sep 19 2007 // American International Group has donated $300,000 to its Disaster Relief Fund (DRF) to help CHF International bring relief to earthquake-affected Peruvians, as they rebuild and recover from the 7.9 magnitude quake that...
AIG Executive Liability Introduces Not-for-Profit Risks Package
Sep 12 2007 // AIG Executive Liability, a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), is now offering Not-for-Profit Risk Protector, a modular package of management liability...
AIG Rebrands National Union’s D&O, E&O, EPL as AIG Executive Liability
Sep 7 2007 // The AIG Companies will begin marketing its directors and officers (D&O), errors and omissions (E&O), employment practices (EPL), fiduciary (PTL) and fidelity liability insurance and services under the new AIG...
Best Downgrades Lloyd’s Syndicate 1414 Ratings
Sep 4 2007 // A.M. Best Co. has downgraded the its Syndicate Rating to “A” (Excellent) from “A+” (Superior) and the issuer credit rating (ICR) to “a+” from “aa-” of Lloyd’s Syndicate...
Ohio sues Marsh, AIG, Ace, Chubb, Hartford for anti-trust violations
Sep 3 2007 // Following a three year long investigation by his office and the Ohio Department of Insurance, Attorney General Marc Dann has filed suit against the world’s largest insurance broker, Marsh & McLennan and four of...
Ohio Sues Marsh, AIG, Ace, Chubb, Hartford for Anti-trust Violations
Aug 28 2007 // Following a three year long investigation by his office and the Ohio Department of Insurance, Attorney General Marc Dann has filed suit against the world’s largest insurance broker, Marsh & McLennan, and four of...
Rating Roundup: WUBA
Aug 16 2007 // A.M. Best Co. has commented that the financial strength rating of “B++” (Good) and the issuer credit rating of “bbb” of Germany’s Wurttembergische und Badische Versicherungs-AG (WUBA) remain...
AIG Reassures Investors About Subprime Mortgage Loan Exposure
Aug 13 2007 // Insurance giant American International Group last week told investors the housing market would have to spiral to Depression-era levels before it would be harmed by its exposure to the residential mortgage market. The...
AIG to Acquire German Insurer, Wuba
Aug 10 2007 // American International Group, Inc. (AIG) reports it is stepping up its presence in the German insurance market by acquiring a German insurer that offers coverage for small and medium firms. A subsidiary of AIG is acquiring...
For 2Q, AIG Profit Jumps 34%
Aug 8 2007 // American International Group, Inc. reports that its net income for the second quarter of 2007 was $4.28 billion or $1.64 per diluted share, compared to $3.19 billion or $1.21 per diluted share in the second quarter of...
Minn. groups sue AIG for $100 million in damages for fraud, violations
Aug 6 2007 // The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compen-sation Insurers Association (MWCIA) filed suit on July 17, 2007, against American International Group Inc....
News Currents
Aug 6 2007 // Minn. groups sue AIG for $100 million in damages for fraud, violations The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compensation Insurers Association (MWCIA)...
Business Moves
Aug 6 2007 // Synercon Insurance Holdings In Nashville, Tenn., two insurance industry veterans have formed Synercon Insurance Holdings, a venture that will acquire and link leading independent insurance agencies. David D. Haynes,...
News Currents
Aug 6 2007 // Minn. groups sue AIG for $100 million in damages for fraud, violations The Minnesota Workers’ Compensation Reinsurance Association (WCRA) and the Minnesota Workers’ Compen-sation Insurers Association (MWCIA)...
