Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Democratic, Republican Senate Banking Leaders Cool to AIG Loan
Sep 16 2008 // Both leaders of the U.S. Senate Banking Committee Tuesday expressed reservations about the federal government intervening to help insurer American International Group Inc. Connecticut Democratic Sen. Christopher Dodd,...
States May Help AIG; Also Assure Policyholders Claims Will be Paid
Sep 16 2008 // State insurance officials from Pennsylvania and New York, where troubled American International Group’s insurance subsidiaries have a an estimated $120 billion in assets, are offering to assist AIG in raising...
Update: AIG Cash Crisis Mounts; Greenberg Explores Buyout; Conservatorship Reportedly Eyed
Sep 16 2008 // American International Group Inc. shares sank 48 percent on a report that regulators might take control of the giant insurer, though a U.S. government source said federal agencies do not have legal authority to put AIG...
CNBC Reports Federal Government May Loan AIG Funds
Sep 16 2008 // American International Group Inc. shares plummeted after the insurer’s credit ratings were cut, heightening concerns it might file for bankruptcy and further upset the global financial system. In late-morning...
Credit Rating Downgrades Hurt AIG Efforts to Raise Cash
Sep 16 2008 // American International Group Inc. shares plummeted in early trading Tuesday after the insurer’s credit ratings were cut, jeopardizing efforts to raise cash necessary for its survival. In pre-market trading, AIG...
Best Lowers Most of AIG’s Ratings to ‘A’ from ‘A+’ – Still ‘Under Review’
Sep 16 2008 // A.M. Best Co. has made an announcement concerning its financial strength ratings (FSRs) and its issuer credit ratings (ICRs) on American International Group and a number of its subsidiary companies. These actions are...
Feds: AIG Rescue Needed Because of Broad Reach
Sep 16 2008 // The government rescue of insurer American International Group Inc was necessary, in contrast to Lehman Brothers, because the insurer has extensive ties to other firms and retail products, senior Fed staff said on...
AIG Statement on $85 Billion Federal Reserve Loan
Sep 16 2008 // On Sept. 16 at 11:25 p.m. EDT, the board of directors of American International Group Inc. issued the following statement in response to the announcement by the Federal Reserve Board that the Federal Reserve Bank of New...
AIG Rescue at Hand: Government to Take 80% Stake in Exchange for $85 Billion
Sep 16 2008 // An $85 billion government rescue of insurer American International Group Inc. looked increasingly likely Tuesday to stave off a bankruptcy that would have thrown world markets back into turmoil. The Federal Reserve will...
Federal Reserve Statement on $85 Billion AIG Loan Plan
Sep 16 2008 // On Sept. 16 at 9:00 PM EDT, the Federal Reserve issued the following statement on AIG: The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York...
AIG Shares Plummet as Investors Await Rescue Plan
Sep 15 2008 // Shares of American International Group Inc. plunged 53 percent Monday as investors grew increasingly nervous after the insurer, once the world’s most valuable insurer by market value, failed to deliver a rescue...
AIG Employees on Edge as Once-Safe Company in Turmoil
Sep 15 2008 // Disbelief and anxiety were written on the faces of staff at American International Group Inc. as they grappled with the idea that their company, which was once the largest insurer in the world and one of the safest places...
AIG Gets New York Governor’s Help in Accessing $20 Billion
Sep 15 2008 // Embattled insurer American International Group Inc. received New York state approval to post $20 billion of policyholders’ assets as collateral as it seeks to stave off a liquidity crisis and works with banks to fix...
New York Federal Reserve Hosting Meetings on AIG, Says Official
Sep 15 2008 // The New York Federal Reserve was hosting meetings Monday on the situation of embattled insurer American International Group Inc. with representatives of the Treasury Department, financial services firms and state...
AIG Facing Liquidity Crisis, Seeks $40 Billion Loan from Federal Reserve
Sep 14 2008 // Insurer American International Group Inc., working to stave off rating downgrades [See related article] and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40...
Four Former AIG Execs Including Greenberg Settle Shareholder Suit
Sep 12 2008 // Four former executives of American International Group Inc., including ex-CEO Maurice “Hank” Greenberg, agreed on Thursday to settle a long-standing shareholder lawsuit for $115 million. The insurer will...
AIG Loses Its Position as Industry Leader by Market Value
Sep 11 2008 // Fears that American International Group Inc.’s large mortgage exposure could trigger another round of losses has rankled investors so much that the insurer has lost its iron grip as the world’s industry leader...
AIG Cos. Introduces Global Supply Chain Distruption Coverage
Sep 9 2008 // The AIG Companies introduced Global Supply Secure, insurance that helps mitigate the financial impact of supply chain disruptions. Jointly developed with Marsh, Global Supply Secure will be underwritten domestically by...
Prosecutors Allege AIG Scheme Cost Investors $1 Billion
Sep 8 2008 // U.S. prosecutors said a scheme to manipulate the financial statements of the world’s largest insurance company, American International Group Inc., resulted in a loss of more than $1 billion to investors. Four former...
AIG CEO Says He Will ‘Take a Scalpel’ to Reshape Giant Insurer
Sep 1 2008 // American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to...
