Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Further Cuts Debt Owed U.S.; Readies Global Life Units for Sale
Dec 1 2009 // American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG owes the FRBNY by $25 billion in...
Benmosche Agrees to Stay As AIG Board Approves His $7 Million Pay
Nov 25 2009 // American International Group Inc., the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay Chief Executive Robert Benmosche’s $7 million compensation, after it laid to...
One Insurer Bets on Political Campaigns While Another Drops Out
Nov 24 2009 // While one company has gotten out of the business of insuring political campaigns, another is throwing its hat in the ring. Markel Risk Solutions, based in Glen Allen, Virginia, is offering campaigns a multi-line, admitted...
AIG Hawaii Becomes Farmers Insurance
Nov 24 2009 // AIG Hawaii Insurance Company, Inc. has announced that it is changing its name to Farmers Insurance Hawaii, Inc. – heralding in a new chapter in the company’s nearly 55-year history – and reflecting its...
Did Government Overpay to Bail Out AIG?
Nov 18 2009 // Officials handling the multibillion dollar bailout of insurance giant America International Group Inc. mismanaged an initial rescue attempt and may have overpaid other banks to wind down AIG’s business relationships,...
Benmosche Denies He Might Leave AIG; ‘Totally Committed’ Says CEO
Nov 12 2009 // American International Group Chief Executive Robert Benmosche said on Wednesday he remains “totally committed” to staying at the company, countering an earlier report that he was considering stepping down. In a...
CEO Benmosche Believes AIG Employees’ Compensation Too Low
Nov 11 2009 // American International Group Inc.’s tough talking chief executive has reportedly threatened to quit, but the giant insurer, which is showing signs of life after its brush with bankruptcy last year, could do fine...
Greenberg: Story Line Shifts to His Private Company, C.V. Starr
Nov 10 2009 // When Maurice “Hank” Greenberg has been in the news during the past five years, the story usually has been about American International Group (AIG), the company he built into an insurance conglomerate and headed...
Moody’s: AIG Likely Able to Repay Government Bailout Funds
Nov 10 2009 // American International Group Inc. has made tangible progress on its restructuring plan and will likely be able to repay the government’s loan and much of its preferred equity stake, Moody’s Investors Service...
AIG Draws $2.1 Billion to Buy Aircraft Leasing Firm Shares
Nov 8 2009 // American International Group Inc. tapped the U.S. government for another $2.1 billion to buy shares of its aircraft leasing arm, International Lease Finance Corp, or ILFC, the insurer said in a regulatory filing...
Kronenberg Touts Innovation in Partnerships, Program Manager Role
Nov 6 2009 // Tony Campisi and Bill Kronenberg used to tease each other about merging their two Pennsylvania brokerage organizations. Just about a year ago, they started talking for real. On the last day of December, 2008, the deal was...
AIG Posts $455 Million Q3 Net Income; Stabilization Continues
Nov 6 2009 // American International Group may be a shadow of its former self but for the second straight quarter it has posted a profit. AIG reported net income of $455 million. Third quarter 2009 adjusted net income was $1.9 billion,...
Business Moves
Nov 1 2009 // AmTrust, American Capital, GMAC AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty...
AIG Approved to Pay $12 Million Delayed Executive Retention Awards
Oct 26 2009 // AIG, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. In a regulatory...
AIG CFO Defends Bailout; Says ‘Grateful’ for Taxpayer Help
Oct 26 2009 // The top financial officer of insurance giant AIG defended the federal government’s $180 billion bailout of the company in a return to his alma mater. Chief financial officer David Herzog, appointed in October 2008...
Top Executives at AIG Financial, Other Bailed Out Firms to See Pay Cuts
Oct 22 2009 // Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources...
Q&A with Ironshore’s Kelley: Why He Left AIG and His Plans for Ironshore
Oct 19 2009 // In December, 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30 years during which he helped the company become one of parent American International...
AIG Being Pressured to Lower Employee Retention Bonuses
Oct 14 2009 // The U.S. Treasury Department is pushing American International Group to cut big pay incentives it claims were needed to keep staff, but which have stoked a controversy over pay at taxpayer-supported firms. Treasury’s...
AIG Sells Taiwan Life Insurance Unit for $2.15 Billion
Oct 13 2009 // American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on...
AIG Stabilizing But Ability to Repay Government in Doubt
Oct 5 2009 // Insurer American International Group’s ability to restructure its business and repay billions of dollars to the U.S. government remains in doubt, U.S. congressional investigators said in a report. However, the...
