American International Group (AIG) News

AIG Can Continue Trade Secret Theft Allegations Against Dellwood

About a year into the litigation between American International Group and startup Dellwood Insurance Group, a federal judge will allow much of AIG’s lawsuit to proceed against its newest potential competitor in the excess and surplus market. Judge Evelyn Padin …

AIG Q4 General Insurance Underwriting Income Down 29% on Catastrophes

American International Group reported fourth quarter 2024 net income of $898 million compared to $86 million the prior year, but insurance underwriting income was down 29% on high catastrophe losses. AIG said the dramatic increase in income for the quarter …

AIG Leads Launch of Reinsurance Syndicate at Lloyd’s

American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. Commencing underwriting from Jan. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The syndicate, which will be managed …

Dellwood Insurance Files to Dismiss ‘Insufficient’ Case Brought by AIG

Dellwood Insurance Group has filed to dismiss a lawsuit against it by American International Group, who is using the court system “as a cudgel to crush a fledgling startup,” the new surplus insurer said. According to the motion filed last …

AIG a ‘Different Company’ Poised to Grow in E&S and More: CEO Zaffino

AIG is “a different company” today than it was when CEO Peter Zaffino joined the company in 2017, but like the old AIG, the new one is poised to grow again, he said. The former executive of Marsh, who recalled …

AIG General Insurance Q4 Income Up 19% on Underwriting, Investments

American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior year. Adjusted pretax income (APTI) in the …

Insurer AIG Leads Policy for Japan Airlines Plane Involved in Runway Collision: Sources

U.S. insurer AIG was the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airplane which collided with another plane at Tokyo’s Haneda airport, two insurance industry sources said on Wednesday. AIG declined to comment. All 379 …

AIG Continues to Take Cautious Approach to Excess D&O in North America

Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company’s chief executive said financial lines offset growth. AIG’s third quarter underwriting income within its General Insurance …

AIG General Insurance Income Up 82.7% in Q3 on North America Gains

American International Group (AIG) during the third quarter recorded a 264% increase in underwriting income within its General Insurance segment to $611 million as adjusted pretax income in the segment increased to about $1.37 billion compared to $750 million the …

RenRe Completes $3.3 Billion Acquisition of Validus Re From AIG

RenaissanceRe Holdings Ltd. announced it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group. AIG received total consideration of $3.3 billion in cash, including a pre-closing dividend, and approximately $275 million in RenaissanceRe common …