Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s First Quarter Beats Analysts’ Expectations
Jun 30 2005 // American International Group Inc.said first-quarter earnings were 20 percent higher than a year ago, which was a stronger performance than analysts had expected. The New York-based insurer, which is under investigation by...
Failed Reciprocal of America Executives Sentenced for Role in Fraud
Jun 30 2005 // Two former executives of a failed malpractice insurer were sentenced in federal court this week as part of an ongoing fraud investigation that has helped expose troubling practices in the industry. Kenneth R. Patterson,...
AIG Private Client Group Launches Mobile Wildfire Protection Unit for Calif. Policyholders
Jun 28 2005 // AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group Inc. (AIG), announced the creation and deployment of its Wildfire Protection Unit, the first mobile...
AIG Files Delayed Annual Proxy Statement; Greenberg Tallied $8 Million in Bonuses
Jun 28 2005 // American International Group Inc. has filed its delayed annual proxy with the Securities and Exchange Commission and set the date of its annual meeting for Thursday, Aug. 11. The company also said in the document filed...
Doors to Vietnam Market Set to Open for AIG
Jun 24 2005 // American International Group Inc. (AIG) announced that its subsidiary, American International Underwriters Insurance Company (AIUI), has been notified that it will receive a license from the government of Vietnam to...
Best Affirms Rating for Fuji Fire & Marine Insurance
Jun 23 2005 // A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) of The Fuji Fire & Marine Insurance Company Limited (Fuji Fire) (Japan). The rating outlook has been revised to positive from stable. The...
AIG Names Comptroller, Treasurer; Adopts Independent Director By-Laws
Jun 22 2005 // American International Group has named David L. Herzog as its new comptroller. He has also been elected an AIG senior vice president, reporting to Steven J. Bensinger, AIG executive vice president and chief financial...
AIG Downgraded
Jun 20 2005 // Standard & Poor’s Ratings Services lowered its long-term counterparty credit and senior debt ratings on American International Group Inc. to “AA” from “AA-Plus.” S&P also removed the...
Second General Re Executive Pleads Guilty in AIG Fraud Case
Jun 13 2005 // The Securities and Exchange Commission has charged a second senior executive of General Re Corporation, Richard Napier, for his role in aiding and abetting a securities fraud committed by American International Group,...
Smith Follows Greenberg, Resigns from AIG Board of Directors
Jun 10 2005 // Shortly after Maurice “Hank” Greenberg made news in the last week, American International Group Inc. reported Friday that Howard Smith, the company’s former chief financial officer, resigned from its...
SEC Complaint Details General Re Exec Role in AIG Reinsurance Scheme
Jun 7 2005 // The former chief executive officer of Cologne Reinsurance Company in Dublin, a General Reinsurance subsidiary, has agreed to plead guilty to federal criminal charge of conspiring with others to misstate certain financial...
Undercover on Underwriting: Spitzer Spills AIG’s Secrets in Civil Complaint
Jun 6 2005 // AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? From the 1980s until recently, insurance giant American International Group and its top executives “routinely engaged in...
Undercover on Underwriting: Spitzer Spills AIG’s Secrets in Civil Complaint
Jun 6 2005 // AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? – Maurice “Hank” Greenberg, AIG CEO, 1992 From the 1980s until recently, insurance giant American International Group...
The Florida Office of Insurance Regulation has joined the ever-increasing tide of regulatory bodies seeking answers from
Jun 6 2005 // Fla. Orders AIG: ‘Turn Over Detailed Financial Information’ AIG’s admitted misrepresentations on financial statements. A statement from the OIR said the financial community has been rocked with the...
S&P Trims AIG Ratings
Jun 3 2005 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and senior debt ratings on American International Group Inc. (AIG) to AA from AA-Plus. Standard & Poor’s also removed...
AIG 10K Filing and Restatements Shave 2004 Net Income by 11.9%
May 31 2005 // American International Group Inc. (AIG) announced that it has filed its long-awaited 2004 annual financial report Form 10-K along with adjustments for 2000 through 2003 with the Securities and Exchange Commission. As part...
Ohio AG Moves to Block Greenberg Sale of AIG Common Stock to Wife
May 27 2005 // Ohio Attorney General Jim Petro has filed suit against former American International Group Inc. CEO Maurice R. “Hank” Greenberg and his wife, Corinne P. Greenberg, in order to put a hold on the transfer of more...
AIG Accountant PWC Alleged to Have Disregarded Warnings
May 27 2005 // The long-time accounting firm for American International Group, PricewaterhouseCoopers LLP, reportedly ignored warnings from the audit committee for the AIG board of directors when that panel said in 2001 and 2002 that it...
N.Y. AG Spitzer, Supt. Mills File Civil Suit Against AIG
May 26 2005 // New York Attorney General Eliot Spitzer and State Insurance Superintendent Howard Mills announced a lawsuit against the nation’s largest business insurance company, alleging that the firm manipulated its books to...
AIG Staring at Possible Formal Action
May 25 2005 // The Wall Street Journal reported Wednesday that New York State Attorney General Eliot Spitzer and the State’s Insurance Department are near completion on producing a civil complaint against American International...
