AIG News

AIG Prepares for Brexit with Authorization of UK, Luxembourg Subsidiaries

American International Group Inc. announced the authorization of new insurance companies in the United Kingdom and Luxembourg in preparation for the UK’s exit from the European Union. The formation of the two new units provides clients certainty of uninterrupted UK …

Ex-AIG Execs Kick-Off New High Net Worth Insurer Vault in Florida

It was a no-brainer for former thought-leaders from AIG to set up shop for their new high net worth insurer in the Sunshine State, a state known for beautiful beaches, a growing economy and lots of wealthy individuals. A pull …

Marsh’s Dandridge Joins AIG as Marketing, Communications Head for General Insurance

American International Group said Ed Dandridge will join the company as head of Marketing and Communications, General Insurance, effective April 16. In this role, Dandridge will be responsible for General Insurance’s global marketing and communications strategy and programs. General Insurance …

AIG Partners with Expedia to Provide Travel Insurance

Insurer American International Group Inc on Friday said that it has struck a deal with online travel services provider Brand Expedia Group to sell travel insurance to the company’s global customers. The move is part of a strategy by AIG …

Former CIA Attorney Krass to Join AIG in General Counsel Roles

American International Group announced that Caroline Krass will join the company as senior vice president and general counsel for General Insurance, and deputy general counsel for AIG, effective in March. Krass previously served as general counsel for the Central Intelligence …

AIG to Buy Bermuda Reinsurer Validus for $5.6B in Cash, Reversing Retrenchment

Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a $5.56 billion, all-cash deal to purchase Bermuda reinsurer Validus Holdings Ltd., its largest standalone acquisition in 17 years. …

Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss

“It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention for AIG’s private client group. …

AIG Names Baugh CEO of North America General Insurance; Stratts Named CEO of Lexington

American International Group recently made two major domestic executive appointments: Lex Baugh is AIG’s new chief executive officer for North America General Insurance, and George Stratts has been named CEO of AIG’s surplus lines unit, Lexington Insurance Co. Baugh is …

AIG to Sell Medical Stop-Loss Operations to Tokio Marine HCC

Tokio Marine HCC plans to acquire the medical stop-loss operations of American International Group (AIG). Neither side is disclosing financial terms in the deal, which is expected to close on Oct. 15. But the operations in question produce $350 million …

Driver Concerns Over the Future of Autonomous Vehicles: AIG Study

Safety of the vehicles, including the risk of hacking, are key concerns when it comes to autonomous vehicles, according to a study by American International Group, Inc. on the whether or not Americans accept or reject driverless cars on the …