Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Reviewing Goldman, Other Deals
May 12 2010 // AIG is reviewing its dealings with all its counterparties during the financial crisis, including Goldman Sachs Group Inc., to see if it was harmed, Chief Executive Robert Benmosche said Wednesday. The bailed-out insurer...
AIG CEO Benmosche Confident Asian Life Unit Sale Will Go Through
May 11 2010 // American International Group Inc. Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter...
Britian’s Pru, Regulators Close to Deal on Buy of AIG’s Asian Unit
May 10 2010 // Britain’s Prudential has made progress in make-or-break talks with UK regulators over its acquisition of AIG’s Asian arm, and is close to announcing a deal, sources familiar with the matter said. The...
AIG Posts $1.5B Net Income in Q1; Chartis Sees 1.1% Drop in Premiums
May 7 2010 // American International Group Inc. turned a quarterly profit after a year-ago loss as the bailed-out insurer got a boost from its investments and general insurance operations appeared to stabilize. Chartis, the general...
Did Its Timberwolf Deal Give Goldman Early Clue to Later AIG Woes?
Apr 30 2010 // The blow-up of a $1 billion subprime mortgage-linked security called Timberwolf 1 may have provided Goldman Sachs Group with an early clue about trouble to come at insurance giant American International Group . It may be...
AIG Sale of Asian Unit AIA to Prudential Hits Snag
Apr 28 2010 // Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer...
Stabilization of AIG Continues, Government Reports
Apr 28 2010 // American International Group (AIG) has “remained relatively stable” thanks in great measure to the more than $180 billion in taxpayer assistance the giant insurer has received since March 2008, according to a...
Judge: Fraud Case Against Ex-AIG CEO Greenberg ‘Devastating’
Apr 21 2010 // New York state prosecutors have “a devastating case” against Maurice “Hank” Greenberg, the former American International Group Inc. chief executive accused of fraud over a reinsurance transaction 10...
One Down, More to Go for AIG and Cordray
Apr 19 2010 // Ohio Attorney General Richard Cordray won a round in early April in his lawsuit alleging insurance companies and brokers conspired to fix commercial casualty insurance prices during a period extending from 2001 to...
UK’s Prudential Under No Pressure to Cut Price for AIG’s Asian Unit
Apr 19 2010 // UK insurer Prudential Plc is under no pressure from its shareholders to cut the $35.5 billion price it’s paying for AIG’s Asian life insurance unit, the group’s Asia CEO said. “At the very...
AIG Aircraft Leasing Unit Raises $2 Billion with Sale of Jets
Apr 14 2010 // The aircraft leasing unit of bailed-out insurer American International Group has agreed to sell 53 passenger jets to Australia’s Macquarie Group to raise a much-needed $2 billion in cash. International Lease Finance...
AIG ‘Strongly Objected’ to Pay Czar’s Cuts
Apr 13 2010 // American International Group Inc. “strongly objected” last year when U.S. pay czar Kenneth Feinberg imposed large cuts in the cash salaries of two of its top executives, regulatory filings showed...
Greenberg Seeks Dismissal of New York AG’s Reinsurance Case
Apr 13 2010 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York’s attorney general, who is seeking to hold him...
AIG Financial Products, Goldman Sachs Unwind Credit Default Swaps
Apr 12 2010 // American International Group Inc. realized a loss of up to $2 billion last year as its Financial Products unit ended most of its remaining trades with Goldman Sachs Group Inc., a source familiar with the matter said on...
Property Firm Purchases Infamous AIG Party Hotel
Apr 7 2010 // Washington Holdings, a private real estate company, said Tuesday it bought the St. Regis Monarch Beach Resort, which became infamous after American International Group Inc executives spent lavishly there weeks after a...
AIG to Pay $9M in Ohio Antitrust Case
Apr 7 2010 // American International Group Inc. will pay $9 million to settle an Ohio antitrust lawsuit accusing it of conspiring to fix commercial casualty insurance prices. Ohio Attorney General Richard Cordray had accused AIG and...
AIG Financial Products Executive Cassano Still Faces SEC Probe
Apr 6 2010 // The former head of the American International Group division that nearly bankrupted the giant insurer isn’t out of the woods yet. Joseph Cassano, who ran London-based AIG Financial Products and oversaw its disastrous...
People
Apr 5 2010 // Novato, Calif.-based Fireman’s Fund Insurance Co. named David Zona senior vice president of product management in commercial insurance. He will be responsible for setting direction and priorities for various...
AIG Expects to Repay Government Before 2013, Says CEO
Apr 2 2010 // American International Group Inc.’s chief executive said Thursday he is “pretty comfortable” the bailed-out insurer will be able to repay the U.S. government before the 2013 expiration of its credit...
U.S. Treasury Appoints E-Trade, EDS Executives to AIG Board
Apr 2 2010 // The U.S. Treasury Department Thursday named two former executives of E-Trade Financial and Electronic Data Systems to serve on the the board of directors of American International Group, the insurer bailed out by the...
