Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s Lexington Loses Another Top Executive as Kelly Joins Ironshore
Dec 10 2008 // One day after it stole the long-time chief executive officer of giant surplus lines insurer Lexington Insurance Co., specialty insurer Ironshore Inc. announced that another former Lexington executive, Shaun Kelly, has been...
AIG Owes $10 Billion for Soured Trades, Wall Street Journal Reports
Dec 10 2008 // American International Group , once the world’s largest insurer, owes around $10 billion to other financial services firms for trades that have gone sour, the Wall Street Journal reported in its online edition...
AIG: Wall Street Journal Wrong on Report on $10 Billion Portfolio
Dec 10 2008 // American International Group, Inc. (AIG) issued the following statement regarding an article that appeared in The Wall Street Journal: A story in today’s Wall Street Journal incorrectly reports that AIG has a...
AXA, Metlife, Prudential, China’s CIC in AIG Talks
Dec 10 2008 // Insurance firms Axa S.A., MetLife Inc. and Prudential Plc., as well as China’s sovereign wealth fund CIC, are all in talks to buy a unit of U.S. insurance firm American International Group in a deal that is likely to...
Five Firms Vying for AIG Japan Units
Dec 9 2008 // Prudential Financial Inc., Manulife Financial Corp. and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc, people familiar with the...
AIG Names Eastwood to Replace Kelley as CEO at Lexington Insurance
Dec 9 2008 // American International Group (AIG) has named Peter Eastwood as president and chief executive officer of leading surplus lines insurer Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management...
Ex-CEO Greenberg: AIG Needs Unified Plan Quickly to Recover
Dec 5 2008 // Former American International Group Inc. CEO Maurice “Hank” Greenberg said the insurer could fall apart unless management quickly came up with a unified recovery plan. “You can’t hold (together) an...
Fitch Announces Rating Actions on AIG’s Latin American Subsidiaries
Dec 4 2008 // Fitch Ratings has taken rating actions on its national scale insurer financial strength (IFS) ratings on American International Group’s Latin American subsidiaries. The rating actions, which are summarized below,...
AIG in Deal with U.S. Government to Terminate Some Debt Obligations
Dec 3 2008 // American International Group Inc. and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a regulatory filing...
Canada’s Natural Gas Firm Tenaska Buys Back Interests from AIG
Dec 3 2008 // American International Group, Inc. (AIG) and Tenaska, Inc. (Tenaska) today reported that Tenaska will repurchase the interest in Tenaska Marketing Ventures, Tenaska Gas Storage and Tenaska Marketing Canada (collectively...
Bright Spots and Challenges Go Hand in Hand in Louisiana
Dec 3 2008 // Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state’s property casualty insurance industry, says Louisiana...
AIG Offers First Takaful Homeowners Insurance Product for U.S.
Dec 2 2008 // Risk Specialists Companies, Inc. (RSC), a subsidiary of AIG Commercial Insurance, is introducing what it says is a first in the U.S.: a homeowners insurance product that is compliant with key Islamic finance tenets and...
Unibanco, AIG in Joint Repurchase Plan of Brazilian Joint Venture Shares
Dec 1 2008 // Unibanco – União de Bancos Brasileiros S.A. – and American International Group, Inc. announced that they have entered into an agreement to repurchase their crossholdings in Unibanco AIG Seguros S.A. (UASEG)...
Munich Re Chairman Sees Improving Results in 2009
Dec 1 2008 // In an interview with Reuters, Munich Re’s Chairman, Nikolaus von Bomhard, expressed his hopes that fatter premiums would make 2009 more of a “normal” year after Munich Re’s likely failure to meet...
AIG Agrees to Sell Private Bank to Dubai’s Aabar Investments PJSC
Dec 1 2008 // American International Group has announced an agreement to sell AIG Private Bank Ltd., a wholly-owned subsidiary of AIG, to Aabar Investments PJSC, a global investment company based in Abu Dhabi. The bulletin said:...
Business Moves
Nov 30 2008 // Arthur J. Gallagher The HR Group International insurance broker Arthur J. Gallagher & Co. reported it has acquired The HR Group, LLC of Brentwood, Tennessee. Terms of the transaction were not disclosed. The HR Group...
Declarations
Nov 30 2008 // Taking Care “At the end of the day, we’re going to make sure everyone is taken care of.” —North Carolina Gov. Mike Easley upon touring Johnston and Wilson counties after a weekend tornado killed two...
People
Nov 30 2008 // Willis Group Holdings appointed Phillip Ellis leader of a new division focused on growing the company’s Enterprise Risk Management business for Willis’ Global Retail and Specialty teams. He was most recently...
Less Than Stellar
Nov 30 2008 // The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On the...
A Good Win in North Carolina for Experience
Nov 30 2008 // New Chief Plans a Blog, Statewide Agent Meetings and a Solution for Coastal Property Owners and Insurers On Nov. 4, Democrat Wayne Goodwin won election as North Carolina Insurance Commissioner with 52 percent of the vote,...
