American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance giant. They said that they’re worried about what the divestiture will do …
American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and chief operating officer, will become its next CEO as of March …
American International Group announced that David McElroy, currently president and chief executive officer of the North American operations of General Insurance, has been promoted to chief executive officer, General Insurance, and executive vice president, AIG, effective immediately. McElroy will lead …
AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. “We believe that COVID has resulted in a flight to quality and …
Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous groups. All financial services companies are under pressure from …
American International Group is moving its global headquarters in 2021 as part of a continued push to modernize its operations, the company disclosed on July 21. The property/casualty insurance giant will still maintain a Manhattan corporate address, which it has …
Circus Circus Hotel and Casino has filed a lawsuit against AIG Specialty Insurance Co. alleging that AIG wrongfully denied coverage for the company’s losses resulting from the COVID-19 pandemic. The lawsuit was filed by in the U.S. District Court of …
American International Group (AIG) announced it has entered into an agreement with Safeco Insurance, a Liberty Mutual subsidiary, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transfer their upper middle market personal insurance …
American International Group Inc.’s Peter Zaffino drew a clear line ahead of his jump to the insurer almost three years ago. “I didn’t want any advice,” Zaffino, AIG’s president, said in a rare sit-down interview. “I needed to see things …
Global investment firm The Carlyle Group and T&D Holdings announced have completed their acquisition of a 76.6% interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from insurer American International Group. The transaction, which was first announced in …
