Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Pays $12.5M to Settle with States Over Bid-Rigging Allegations
Jan 29 2008 // American International Group, Inc. (AIG) confirmed today that it has reached settlements with nine states and the District of Columbia relating to their investigations into alleged bid-rigging and price-fixing and...
AIG to Pay $42.5M to Cleanup Pollution Left by Bankrupt Insured
Jan 27 2008 // American International Specialty Lines Insurance Co. Inc. (AISLIC) has agreed to pay $42.5 million to clean up contamination at four industrial facilities run by a bankrupt insured in a suit in which the Department of...
AIG to Pay $42.5 Million to Cleanup After Failed Company
Jan 27 2008 // The American International Specialty Lines Insurance Co. Inc. (AISLIC) has agreed to pay $42.5 million to clean up contamination at four industrial facilities run by a bankrupt insured in a suit in which the Department of...
AIG Enhances Corporate Counsel Policy
Jan 23 2008 // The heightened risk of being named in securities litigation has lead corporate counsel to face increasing liability exposures from a variety of claimants. These liabilities may result from legal services provided on behalf...
Former Hilton CEO Joins AIG’s Board
Jan 17 2008 // Stephen F. Bollenbach, former CEO of Hilton Hotels Corp., has been elected to the board of directors of American International Group. Bollenbach, 65, has also served as a CFO of the Walt Disney Co. and CEO of Host Marriott...
Fitch Affirms AIG, Subs ‘AA’ Ratings
Jan 16 2008 // Fitch Ratings has affirmed American International Group’s Issuer Default Rating (IDR) at ‘AA’ and affirmed its ratings on all of AIG’s insurance subsidiaries at the same level. The rating outlook is...
Trial Opens for Five Former Gen Re, AIG Executives
Jan 9 2008 // The former chairman and CEO of the world’s largest insurer initiated a deal that led to five ex-executives being charged in a scheme to manipulate the company’s financial statements, a federal prosecutor said...
Buffett’s Role Disputed As Former Execs Head To Trial
Jan 7 2008 // Billionaire investor Warren Buffett has long been revered in the business world, but his importance at a trial involving the world’s largest insurer is hotly contested. The trial starts today in federal court in...
Top Insurance Stories in 2007 in Midwest
Dec 31 2007 // From storms that flooded the Midwest destroying homes and business in the summer to a court ruling that could have a significantly negative impact on the medical malpractice insurance market in the state of Illinois, 2007...
People
Dec 23 2007 // Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston. The newly elected officers, who will assume their duties following the completion of the NAIC...
People
Dec 23 2007 // Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston. The newly elected officers, who will assume their duties following the completion of the NAIC...
From Med Mal Caps to RICO Violations, No Headline Shortage in 2007
Dec 23 2007 // Severe summer storms that ransacked the Midwest, a court ruling that could negatively impact the medical malpractice insurance market in Illinois and RICO allegations in Minnesota were just a few of the news stories that...
New Markets
Dec 23 2007 // The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Small Residential General Contractors Nuts...
Ratings Recap: London General, AIG Global Trade, Kiln, PartnerRe (Europe), New Technology, Radian (Europe), Allied World
Dec 17 2007 // A.M. Best Co. has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of London General Insurance Company Limited (LGI) and London General Life Company...
S&P Affirms AIG’s ‘AA’ Ratings; Asia Unit Upgraded to ‘AA+’; Outlook Stable
Dec 13 2007 // Standard & Poor’s Ratings Services gave the American International Group a vote of confidence as it affirmed AIG’s ‘AA’ long-term counterparty rating and its ‘AA+’ counterparty...
AIG’s Lexington Insurance Adds Social Services Practice
Dec 12 2007 // Lexington Insurance Co. has formed AIG Human & Social Services Risk Solutions, a new industry practice to provide insurance and risk management products to the social services sector. The new industry practice serves...
AIG’s Glaser Named Marsh CEO
Dec 3 2007 // Marsh & McLennan Companies, Inc. has named Daniel S. Glaser, an AIG executive who began his career as a Marsh broker, as chairman and chief executive officer of its insurance broker, Marsh Inc. Glaser currently serves...
Baugh to Replace Glaser at AIG UK; Portalatin, Hernandez Move Up
Dec 3 2007 // Following the departure of Daniel Glaser to Head Marsh (See related article), American International Group announced the promotion of three executives in its Foreign General insurance operations. Alexander R. Baugh will...
IIF Insurance Committee To Be Chaired by Execs from AIG, ING, Zurich
Nov 20 2007 // The Institute of International Finance based in Washington, D.C., is establishing a Committee on International Insurance Regulatory Issues headed by industry leaders to support the development of global industry...
AIG 3d Quarter Profit Down 27%; Vows Mortgage Exposure Under Control
Nov 8 2007 // Troubled residential mortgage and credit markets hurt American International Group Inc.’s third-quarter profit. Net income fell 27 percent compared to the third quarter last year. The giant insurer reported losses in...
