Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Investors, N.Y. Regulator Mull Former CEO Greenberg’s Words
May 19 2008 // Maurice “Hank” Greenberg’s withering criticism of American International Group Inc. has yet to win widespread support for a revolt against the current management of the giant insurer he used to run. There...
Ex-AIG Chief Greenberg Voted Against AIG Board of Directors Re-Election
May 16 2008 // Maurice “Hank” Greenberg, the former head of American International Group Inc, said in an interview on Wednesday he voted against the reelection of the company’s board because directors have not made sure...
House Panel Hits Defense Department, Insurers Over War Zone Insurance Costs
May 16 2008 // A House committee looking into defense contractors has alleged that the Department of Defense (DoD) has been lax in its management such that insurance companies providing workers’ compensation for civilian employees...
Ratings Roundup: AIG-Equity, MBIA, Great Lakes, Country-Wide, Infinity, Allstate, Farmers Mutual (Nebr.)
May 15 2008 // Standard & Poor’s Ratings Services has assigned its ‘A’ junior subordinated debt rating to American International Group Inc.’s $5 billion of equity units. S&P also said it has...
AIG Chairman Says Board Stands by CEO Sullivan
May 14 2008 // American International Group Inc Chairman Robert Willumstad said Wednesday the global insurance giant’s directors stand behind Chief Executive Martin Sullivan, fending off concerns raised by investors frustrated by...
AIG Rejects Ex-CEO Greenberg’s ‘Crisis’ Call for Delay of Annual Meeting
May 13 2008 // Maurice “Hank” Greenberg, former chief executive of American International Group, has said the insurer is in “crisis” and urged a delay in its annual general meeting scheduled for Wednesday,...
S&P Lowers AIG’s Ratings; On CreditWatch/Negative
May 9 2008 // American International Group’s whopping $7.81 billion first quarter loss (See related article) brought an immediate reaction from Standard & Poor’s Ratings Services. S&P has lowered its counterparty...
Greenberg’s Starr Foundation Sues AIG, Alleging Fraud over Credit Losses
May 9 2008 // The Starr Foundation, controlled by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg, has sued the insurer, claiming it misrepresented its exposure to credit default swaps. The...
AIG Posts Big Loss Due to Mortgage Woes; Insurance Results Decline, Too
May 8 2008 // The world’s biggest insurance company, American International Group Inc. (AIG), posted a big quarterly loss — $7.81 billion — largely due to write-downs related to bad mortgage investments. AIG blamed much of the...
AIG Seeks New CFO as Bensinger Moves to Financial Services
May 8 2008 // American International Group, Inc. (AIG) is in the market for a new chief financial officer (CFO), having appointed its current CFO to a new post. AIG announced that Steven J. Bensinger, currently CFO and executive vice...
Business Moves
Apr 21 2008 // Towerstone Towerstone Inc., a wholesale insurance broker and managing general agency with extensive experience in a broad spectrum of industries, has been formed via the merger of Energy Risk Associates Inc. (ERA) with the...
AIG Rebrands Domestic Insurance Operations as P/C Group; Shuffles Executives
Apr 21 2008 // American International Group, Inc. has renamed its Domestic General Insurance operations the AIG Property Casualty Group, a move the company said reflects AIG’s corporate brand and an intention to provide a clearer...
AIG Names Executives for New Commercial Insurance Group
Apr 11 2008 // American International Group, Inc. (AIG) has named several executives to positions within its new AIG Commercial Insurance Group, formerly known as the Domestic Brokerage Group. AIG Commercial Insurance is part of the...
AIG Cuts CEO Sullivan’s Pay 48% to $14 Million
Apr 7 2008 // American International Group, the world’s largest insurer, cut Chief Executive Martin Sullivan’s 2007 pay by about 48 percent from 2006, to $13.93 million, according to a regulatory filing late...
AIG Rebrands Domestic Insurance as P/C Group; Shuffles Executives
Apr 7 2008 // Insurance giant American International Group, Inc. has renamed its Domestic General Insurance operations the AIG Property Casualty Group, a move the company says reflects the increasing power of AIG’s corporate brand...
Mass. Workers’ Comp Writers Seek 2.3% Rate Boost
Apr 7 2008 // The Workers Compensation Rating and Inspection Bureau, which represents insurers, submitted its filing on Feb. 29. The bureau has requested a Sept. 1, 2008 effective date for new rates. A hearing was held April 3. The...
AIG Sues Former CEO Greenberg and 6 Ex-Directors
Mar 27 2008 // American International Group Inc., the world’s largest insurer, has filed a complaint in New York Supreme Court against former Chief Executive Maurice “Hank” Greenberg and six other former directors and...
Allied World Names Germano for Specialty Lines
Mar 25 2008 // Bermuda’s Allied World Assurance Company Holdings has announced the appointment of Todd Germano as Senior Vice President, Specialty Insurance of Allied World U.S. He will be responsible for developing new products...
Mass. Construction Worker Charged with Workers’ Compensation Fraud
Mar 25 2008 // A Brockton, Mass. man was arraigned on charges he collected over $9,000 in workers’ compensation benefits while he worked at two different jobs, according to the attorney general’s office. Officials said John...
Mass. Insurers Seek 2.3% Workers’ Comp Hike; Hearing Scheduled
Mar 19 2008 // Massachusetts officials will conduct a public hearing on April 3 to consider an industry request for an average 2.3 percent increase in workers’ compensation rates. The Workers Compensation Rating and Inspection...
