Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Frees Up Capital with Reinsurance Pact with Swiss Re
Mar 10 2016 // American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year...
Supreme Court Nixes AIG Bid to Recoup Foreign Tax Credits
Mar 7 2016 // The U.S. Supreme Court on Monday rejected bids by three companies to recoup hundreds of millions of dollars in foreign tax credits denied by the Internal Revenue Service as the tax agency tries to curb corporate abuse of...
Former AIG Executive Doyle to Join Marsh as President
Mar 7 2016 // John Q. Doyle, who was ousted from the executive ranks of American International Group in a management shakeup in December, is joining global insurance broker Marsh. Marsh said it has appointed Doyle as president,...
Why Buyers, Sellers File Claims Under M&A Insurance: AIG
Mar 7 2016 // Nearly 14 percent of mergers and acquisitions (M&A) insurance policies written globally by American International Group Inc. resulted in a claim, according to a study by the insurer, one of the largest writers of...
XL Catlin Expands Professional Liability Unit; Adds AIG’s Santiago
Mar 2 2016 // XL Catlin has announced the regional expansion of its Hartford-based Professional Liability underwriting operations, establishing offices in New York, Chicago, Denver and Toronto. According to Dan Kumpf, chief executive of...
AIG, Coventry Settle Life Settlements Case
Mar 1 2016 // American International Group Inc. said on Monday that it had reached a settlement resolving a $2 billion lawsuit accusing a Philadelphia-area firm overcharging it for life insurance policies acquired from elderly...
Why Buyers, Sellers File Claims Under M&A Insurance: AIG Study
Feb 26 2016 // Nearly 14 percent of mergers and acquisitions (M&A) insurance policies written globally by American International Group Inc. resulted in a claim, according to a study by the insurer, one of the largest writers of...
Should Google’s Parent Buy AIG?
Feb 16 2016 // It’s an “audacious” idea, and Citigroup Inc. acknowledges as much. Google’s parent, Alphabet Inc., should buy American International Group Inc. to expand into financial services, and turn the...
AIG Takes More Off Top: Schreiber, Maag Out
Feb 16 2016 // American International Group Inc. veteran Brian Schreiber, who shepherded multibillion-dollar deals that expanded the company and then shrank it after the 2008 credit crisis, is departing as the insurer overhauls...
AIG Ex-CEO Greenberg Agrees with Current CEO Hancock, Not Icahn
Feb 15 2016 // American International Group Inc. Chief Executive Officer Peter Hancock won short-term relief at the risk of longer-term challenges by striking an accord with activist investors who want to shrink the company, former CEO...
AIG Reports $1.8 Billion Q4 Net Loss on Weak Underwriting, Investments
Feb 12 2016 // American International Group Inc. reported an operating loss of $1.3 billion for the fourth quarter of 2015, compared to after-tax operating income of $1.4 billion in the prior-year quarter. Disappointing underwriting and...
Activists Icahn, Paulson Land Seats on AIG Board; Now What?
Feb 12 2016 // John Paulson and Carl Icahn, who became billionaires by identifying mispriced securities and pushing for corporate shakeups, face a new challenge after winning seats on the board of American International Group Inc., the...
Leading Reinsurers Line Up for Lemonade, the P2P Insurer
Feb 9 2016 // Lemonade, the startup peer-to-peer insurance carrier that has raised $13 million in initial funding, announced a line-up of global reinsurance partners, including Berkshire Hathaway and leading Lloyd’s of London...
AIG Scaling Back on Investments in Hedge Funds
Feb 9 2016 // American International Group Inc. plans to exit at least half the hedge funds in which the insurer is invested, according to people familiar with the company’s portfolio. The insurer has holdings in more than 100...
Business Moves
Feb 8 2016 // Aspen, AgriLogic Specialty insurer Aspen Insurance has acquired AgriLogic Insurance Services and certain affiliates for cash in a transaction that further diversifies Aspen’s specialty insurance...
Icahn Doesn’t Buy AIG’s Strategy; Readies Slate of Directors
Feb 1 2016 // Carl Icahn, the activist investor calling for a breakup of American International Group Inc., said the alternative plan presented last week by the insurer’s chief executive officer was inadequate and that he’s...
Moody’s, S&P, A.M. Best Release Ratings for AIG After Strategic Plan Outlined
Jan 28 2016 // American International Group Inc., which activist investor Carl Icahn is pressuring to divest assets, had the outlook on its credit rating changed to negative from stable by Standard & Poor’s after the insurer...
AIG CEO Says Future Split Possible, But Downplays SIFI Risk; Will ‘Narrow’ P/C Focus
Jan 26 2016 // American International Group (AIG) CEO Peter Hancock, who announced the sale of the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to...
AIG to Sell Advisor Group Broker-Dealer to Lightyear
Jan 26 2016 // American International Group Inc. has agreed to sell AIG Advisor Group to investment funds affiliated with Lightyear Capital LLC, a private equity firm specializing in financial services investing, and PSP Investments, one...
AIG Rejects Full Split; Will IPO Mortgage Business, Sell Advisory Unit, Reorganize into ‘Modular’ Units
Jan 26 2016 // American International Group Inc. announced $3.6 billion in expenses to fill a reserve shortfall after higher-than-expected claims costs and will exit its mortgage insurer and sell an adviser network as Chief Executive...
