Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
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...
Ironshore Hires 3 Key Executives for Professional Liability Unit IronPro
Nov 7 2007 // Three industry executives, including two from AIG, have joined IronPro, the professional liability facility of Bermuda’s Ironshore, Inc. Tom Leahy joins as senior vice president of Underwriting and will manage the...
Greenberg Takes Aim at His Former Company, AIG
Nov 5 2007 // Maurice “Hank” Greenberg, the former chief executive officer of American International Group Inc. who remains a big AIG shareholder, believes there are “opportunities to significantly improve AIG’s...
Business Moves
Nov 4 2007 // AmWINS, London American General AmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc. Based in San Diego, Calif., London American is...
Ratings Roundup: Doctors Company, Old Republic Financial, 21st Century
Oct 31 2007 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit ratings (ICR) of “a-” of California-based The Doctors Company Insurance Group (TDCG)...
AIG Opens Trucking Unit
Oct 22 2007 // AIG Cos. launched a new unit dedicated to providing insurance solutions for the U.S. trucking market. AIG Transportation Solutions, to be headed by Lentz Merisier, director of Transportation Solutions, will provide a broad...
AIG’s Willett To Manage Boston Office for Aon Risk Services
Oct 19 2007 // Aon Risk Services, the retail brokerage and risk management arm of Aon Corp. , announced that John G. Willett has joined the company’s Boston office as managing director. He is a member of the leadership team and...
Ratings Recap: Euler Hermes, Ascot, Tokio Marine Retakaful, Toa Re
Oct 4 2007 // Standard & Poor’s Ratings Services has raised its long-term counterparty and insurer financial strength ratings on U.K.-based surety insurer Euler Hermes Guarantee PLC to ‘AA-‘ from ‘A’...
21st Century is Now aigdirect; AIG Names Leaders; Announces Layoffs
Sep 27 2007 // American International Group, Inc. reports it has completed the previously announced merger of a wholly owned subsidiary of AIG with 21st Century Insurance Group. Upon consummation of the merger, AIG acquired the 39.3...
AIG Introduces Coverage for Political Campaign Committees
Sep 26 2007 // AI Risk Specialists Insurance Inc. (AI Risk), a wholly owned brokerage subsidiary of American International Group Inc. (AIG), introduced LexElect, a multi-line insurance program designed specifically to address risks faced...
Business Moves
Sep 24 2007 // HRH, Bank of America Insurance broker Hilb Rogal & Hobbs Co. has agreed to purchase Banc of America Corporate Insurance Agency, L.L.C., a segment of Bank of America, N.A., and a middle market insurance intermediary in...
AIG Introduces Coverage for Global E&O Liability Needs
Sep 24 2007 // The AIG Cos. introduced a service called AIG Passport for multinational companies’ errors and omissions (E&O) liability insurance to facilitate purchasing locally admitted E&O coverage to cover their...
Two Adjusters Allege AIG Violated Federal Overtime Rule
Sep 19 2007 // Two insurance adjusters employed by giant insurer American International Group say they have filed a collective action under the Federal Fair Labor Standards Act asserting that AIG intentionally misclassified hundreds of...
AIG Donates $300,000 to Peru Disaster Relief Fund
Sep 19 2007 // American International Group has donated $300,000 to its Disaster Relief Fund (DRF) to help CHF International bring relief to earthquake-affected Peruvians, as they rebuild and recover from the 7.9 magnitude quake that...
AIG Executive Liability Introduces Not-for-Profit Risks Package
Sep 12 2007 // AIG Executive Liability, a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), is now offering Not-for-Profit Risk Protector, a modular package of management liability...
AIG Rebrands National Union’s D&O, E&O, EPL as AIG Executive Liability
Sep 7 2007 // The AIG Companies will begin marketing its directors and officers (D&O), errors and omissions (E&O), employment practices (EPL), fiduciary (PTL) and fidelity liability insurance and services under the new AIG...
Best Downgrades Lloyd’s Syndicate 1414 Ratings
Sep 4 2007 // A.M. Best Co. has downgraded the its Syndicate Rating to “A” (Excellent) from “A+” (Superior) and the issuer credit rating (ICR) to “a+” from “aa-” of Lloyd’s Syndicate...
Ohio sues Marsh, AIG, Ace, Chubb, Hartford for anti-trust violations
Sep 3 2007 // Following a three year long investigation by his office and the Ohio Department of Insurance, Attorney General Marc Dann has filed suit against the world’s largest insurance broker, Marsh & McLennan and four of...
Ohio Sues Marsh, AIG, Ace, Chubb, Hartford for Anti-trust Violations
Aug 28 2007 // Following a three year long investigation by his office and the Ohio Department of Insurance, Attorney General Marc Dann has filed suit against the world’s largest insurance broker, Marsh & McLennan, and four of...
Rating Roundup: WUBA
Aug 16 2007 // A.M. Best Co. has commented that the financial strength rating of “B++” (Good) and the issuer credit rating of “bbb” of Germany’s Wurttembergische und Badische Versicherungs-AG (WUBA) remain...
