Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG May Rethink Strategy of Asset Sales in Tough Markets
Feb 25 2009 // American International Group Inc., which is trying to dispose of assets to pay back the U.S. government after a bailout last year, will rethink its sales strategy if tough market conditions keep it from getting a good...
O’Sullivan Says Zurich Financial Sees Tougher 2009
Feb 25 2009 // Zurich Financial Services AG will find this year tougher than 2008, when profit fell 47 percent, a senior executive of the Swiss insurer said on Wednesday. Patrick O’Sullivan, vice chairman of the management board...
U.S. Considering ‘Controlled Breakup’ of AIG To Keep It Afloat
Feb 25 2009 // American International Group and U.S. authorities are in advanced discussions over a radical restructuring that would split the insurer into at least three government-controlled divisions in an attempt to keep it afloat,...
AIG Seen Willing to Give Up Majority Control of Asia ‘Jewel’ AIA
Feb 24 2009 // American International Group Inc., facing massive losses and seeking fresh funds, may be willing to give up control of its prized Asian division, worth about $20 billion, said sources with direct knowledge of the...
U.S. Treasury Declines Comment on Additional Funds for AIG, Citi
Feb 23 2009 // The U.S. Treasury Monday declined to comment on reports American International Group was seeking additional government funds and that Citigroup was in talks with the government that could lead to Uncle Sam holding as much...
AIG Reportedly Facing $60 Billion Loss; In Talks For More Government Aid
Feb 23 2009 // American International Group Inc., rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be...
Declarations
Feb 22 2009 // Siren Song “The fire department is going to be mad at me.” —A sang phrase recorded by Amanda Gessner, 19, in a Drexel Hill, Pa. convenience store surveillance camera – which led to her arrest for arson...
Insurance Industry Starts to Pay Attention to Muslim American Market
Feb 22 2009 // 24% of All Muslims in U.S. Have College Degrees; 16% Are High Income Earners While there are an estimated 130 entities selling takaful — cooperative insurance that is true to Shariah tenets of Islamic religious law...
Lawsuit Seeks to Stop U.S. Bailout Because of AIG’s Takaful Sales
Feb 22 2009 // American International Group’s involvement with the Islamic insurance market at the same time it is taking government bailout funds has provoked the ire of a Christian rights group in the U.S. The Michigan-based...
Declarations
Feb 22 2009 // Devastating “From what I saw today, it was incredible, and we only saw a very small portion today. If you extrapolate that over the entire geographic area that is impacted by Kentucky, it’s a devastating...
People
Feb 22 2009 // American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who...
Prudential In Lead to Acquire AIG Japanese Life Insurance Units
Feb 20 2009 // Prudential Financial Inc. is leading the race to buy two Japanese life insurers put on sale by American International Group Inc. in a deal due to close next week, sources familiar with the matter said on Friday. AIG Edison...
AIG Winding Down Troublesome Financial Products Operation
Feb 17 2009 // By year end, American International Group Inc. expects to have largely wound down a money-losing financial products unit that was the cause of its near-collapse last year, said Gerry Pasciucco, hired three months ago to...
AIG to Sell Tokyo Building, Puerto Rico Hotel, Dubai Properties
Feb 13 2009 // American International Group has put a prized building in Tokyo up for sale and is in advanced talks to sell a hotel in Puerto Rico and two office buildings in Dubai, a top executive said Thursday. The sales are part of...
UK’s Serious Fraud Office to Probe AIG Financial Products Unit
Feb 12 2009 // Britain’s Serious Fraud Office (SFO) has launched a preliminary inquiry into suspected irregularities at a British subsidiary of American International Group Inc., the SFO said on Thursday. The SFO said its probe...
Report: AIG in Talks to Sell Auto Insurance Unit to Zurich
Feb 11 2009 // American International Group is in advanced talks to sell its U.S. auto insurance unit to Swiss insurer Zurich Financial Services AG, a source familiar with the matter said Tuesday. The auto insurance business is expected...
Thai Bank Acquires AIG Bank, Card Business; S&P: ‘No Rating Change’
Feb 9 2009 // Thailand’s Bank of Ayudhya Public Company Limited (BAY) and American International Group, Inc. (AIG) announced an agreement under which BAY will acquire AIG Retail Bank Public Company Limited and AIG Card (Thailand)...
S&P Withdraws, Affirms Ratings of Several ‘Minor AIG Subsidiaries’
Feb 5 2009 // Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate...
Congress May Probe AIG Pricing, Pay Practices
Feb 5 2009 // An influential U.S. congressman, concerned that American International Group Inc’s $150 billion federal bailout could be undermining the broader U.S. insurance market, is digging into claims that the insurer is...
Report: AIG Eyes Federal Backstop on Assets, Recapitalization Options
Feb 2 2009 // American International Group, the insurer rescued from collapse by the government in September, is in discussions with Washington about a federal backstop for some of its assets, The Wall Street Journal reported...
