Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Ratings Recap: Navigators, AIG (So. Am.), Electro Re, Casiopea Re
May 28 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Navigators Insurance Group, which is comprised of Navigators Insurance Company...
AIG Selling Part of Stake in Reinsurer Transatlantic Via Secondary Offering
May 28 2009 // American International Group Inc. said Thursday it will sell a part of its 59 percent stake in reinsurer Transatlantic Holdings Inc. to the public in a secondary offering, marking its latest divestiture. AIG, which is...
Insurance Broker Sues AIG Over Business Practice
May 27 2009 // A California insurance broker is suing American International Group, accusing the nation’s largest insurance and financial corporation of engaging in unfair business practices. Insurance broker Linda Harris,...
Finding New AIG CEO Won’t Be Easy, Say Consultants
May 26 2009 // Who would apply for a job that requires regular coach flights to Washington to be abused by Congress on international television, to run a company that in many ways symbolizes the financial crisis? And oh by the way, the...
AIG CEO, Chairman Liddy Calls It Quits; Search On for 2 Replacements
May 21 2009 // American International Group, Inc. (AIG) announced today that Chairman and Chief Executive Officer Edward M. Liddy intends to step down once the board finds replacements for him. Liddy has recommended that the chairman and...
S&P Says AIA, AIAB Ratings ‘Not Affected’ by AIG Spinoff Plans
May 20 2009 // Standard & Poor’s Ratings Services said that its ratings on Hong Kong-based American International Assurance Co. Ltd. (AIA; A+/Developing/–) and American International Assurance Co. (Bermuda) Ltd. (AIAB;...
Court Approves $843 Million for AIG Investors Hurt By Alleged Fraud
May 20 2009 // A federal court has approved the distribution of more than $843 million to harmed investors at insurer American International Group, the U.S. Securities and Exchange Commission said Tuesday. The court estimates that checks...
AIG Names 6 Independent Directors
May 20 2009 // American International Group, Inc. (AIG) announced that six new independent director nominees will stand for election at the AIG 2009 annual meeting of shareholders scheduled on June 30. The six new nominees are Harvey...
People
May 18 2009 // Zurich Financial Services Group appointed Francis Bouchard head of the Climate Office. Bouchard will succeed Mike Kerner, who was appointed CEO of Global Corporate in North America. Bouchard will work to institutionalize...
AIG Launches IPO Process for Asian ‘Crown Jewel’
May 18 2009 // American International Group said it would accelerate plans to separate its Asian subsidiary through an initial public offering as the bailed-out U.S. insurer seeks to raise cash and list the unit as soon as possible. The...
People
May 18 2009 // QBE Regional Insurance recently added Charles Valinotti and Mike Bondura to its leadership team headquartered in Sun Prairie, Wis. Valinotti, senior vice president of Personal Lines, oversees personal property and casualty...
Outside the Beltway-Big ‘I’ CEO on Carrier Relations, AIG and Agent Grassroots
May 18 2009 // Bob Rusbuldt, president and CEO of the Independent Insurance Agents & Brokers of America (Big “I”), sat down with Insurance Journal‘s Andrew Simpson at the association’s recent legislative...
AIG Puts Vermont Ski Resort on the Block
May 15 2009 // Bailed-out insurance giant American International Group Inc. says it’s taking offers for Stowe Mountain Resort in Vermont. AIG spokesman Peter Tulupman confirmed that the resort went up for sale Wednesday but gave...
Report: Process for AIG Asian IPO to Start Soon
May 14 2009 // AIG is expected to soon begin the process of launching the initial public offering of its largest Asian subsidiary, according to sources familiar with the matter, in what could be one of the largest Asian IPOs to hit the...
Best Affirms Transatlantic’s ‘A’ Ratings
May 13 2009 // A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Transatlantic Holdings Inc. Group and its members, – Transatlantic Reinsurance...
AIG Leaders Grilled on Bailout Repay at Congressional Hearing
May 13 2009 // American International Group Inc. CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer. Rep. Dennis Kucinich wagged his...
AIG Sells Tokyo Building for $1.2 Billion
May 12 2009 // American International Group has signed an agreement to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash (Yen115.5 billion) to Nippon Life Insurance Company. The property consists of...
No New Government Funds for AIG
May 8 2009 // American International Group, the giant insurer bailed out by the U.S. government, reported its smallest loss in six quarters on Thursday, hurt once more by investment losses and write downs. AIG has lost more than $100...
AIG Reports $4.35 Billion Q1 Loss
May 7 2009 // American International Group, Inc. (AIG) today reported a net loss for the first quarter of 2009 of $4.35 billion compared to a net loss of $7.81 billion in the first quarter of 2008. The loss was less than the $5 billion...
AIG Performance Bonuses of $454 Million Disclosed
May 6 2009 // Embattled insurer American International Group paid some $454 million in previously undisclosed performance bonuses to employees for 2008, the company said in answers to questions from a U.S. lawmaker that released...
