Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
U.S. Senator Seeks Details on AIG Exec’s Severance
Jan 19 2010 // A watchdog senator Friday asked the Obama administration pay czar to explain why a top AIG executive stands to get a multi-million dollar severance package. Sen. Chuck Grassley sent a letter to pay czar Kenneth Feinberg...
Geithner Denies Role in Hiding AIG Payments to Banks
Jan 15 2010 // U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made...
Ex-AIG CEO Greenberg Sees Hope for Overhaul of Bailout
Jan 14 2010 // Former AIG CEO Maurice “Hank” Greenberg said the rising tide of questions about the government’s 2008 rescue of the insurer could be the catalyst for a dramatic overhaul of the bailout. “I believe...
Obama to Seek Fees From Banks, AIG to Recoup Bailout Funds
Jan 14 2010 // President Barack Obama will propose a fee Thursday to recoup from the country’s top financial institutions up to $117 billion lost on a taxpayer bank bailout fund, a senior administration official said. Obama will...
Congressional Pressure Builds to Disclose AIG Payments to Banks
Jan 13 2010 // U.S. lawmakers moved Tuesday to force release of documents that may show whether the New York Federal Reserve pressured insurer AIG to limit discussions about payments to banks when current Treasury Secretary Geithner led...
Secret AIG Filing May Have Revealed Banks With Worst Securities Deals
Jan 13 2010 // Information about the American International Group bailout that regulators agreed to keep secret may reveal which banks held some of the worst performing mortgage-related securities at the time of the rescue. Reuters...
Greenberg Urges U.S. Stake in AIG Below 20% to Attract Capital
Jan 12 2010 // Former AIG chief Maurice “Hank” Greenberg is campaigning for the U.S. government to cut its stake in the insurer to less than 20 percent, saying this would attract new capital to AIG and help taxpayers fully...
SEC Order Keeps Some AIG Bailout Terms Sealed Until 2018
Jan 12 2010 // It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the...
U.S. Senator Urges SEC to Probe N.Y. Fed Over AIG E-mails
Jan 12 2010 // U.S. regulators should investigate whether laws were violated when the New York Federal Reserve Bank urged insurer American International Group Inc. to limit discussions about payments to banks, a Republican member of the...
People
Jan 10 2010 // New York-based insurance wholesaler Russell Bond & Co. has promoted Margaret J. Arnold to assistant vice president-controller. She is a 20-year veteran of the firm. In addition, the company has also promoted Derek...
Business Moves
Jan 10 2010 // Aon Risk, Allied North America Aon Risk Services, the risk management and insurance brokerage business of Aon Corp., said it has agreed to acquire Allied North America, one of the largest independent surety and...
Declarations
Jan 10 2010 // No Warren Buffett “The heart and soul of what insurance companies should be is underwriting companies. I mean, I tell people there’s only one Warren Buffett, and I’m not him.” —Fred Eppinger, CEO...
N.Y. Fed Sought to Limit AIG Disclosures of Bank Payments
Jan 8 2010 // The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released Thursday showed. The...
Lawmakers Press Treasury Secretary Geithner for AIG Testimony
Jan 8 2010 // Two prominent U.S. lawmakers Friday called for U.S. Treasury Secretary Timothy Geithner to testify to help determine if the New York Federal Reserve Bank improperly influenced insurer AIG to withhold information on its...
CNA Chief Motamed: What’s Ahead for CNA, Economy, Industry
Jan 6 2010 // After 30 years at Chubb Corp, Thomas Motamed joined Chicago-based commercial lines insurer CNA Financial in January 2009 as chairman and CEO. In this edited interview with Insurance Journal’s Andrew Simpson, Motamed...
AIG Executive Quits Over Pay Limits
Jan 4 2010 // A top executive at American International Group Inc. has resigned because of pay curbs imposed by the Obama Administration’s pay czar, the insurer said last week. Anastasia Kelly, AIG’s vice chairman for legal,...
Pay Czar Approves Retention Pay Raise for AIG Executive
Dec 28 2009 // A top executive of American International Group Inc. has been granted a $4.3 million pay-package bump by the troubled insurance giant’s majority owner — the U.S. government — because the executive has...
AIG Halts Efforts to Sell Chartis Shares to Focus on P/C Unit’s Growth
Dec 22 2009 // American International Group Inc. has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said...
Best Analyzes AIG; Affirms Most P/C, L&H Ratings; Outlook Negative
Dec 21 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of most P/C life/health insurance subsidiaries of American International Group, Inc., as well as the ICR of “bbb”...
2009 P/C Insurance Mergers, Acquisitions Large and Small
Dec 20 2009 // Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies....
