Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Former AIG Employees Win UK Court Ruling over $100M in Back Bonuses
Nov 13 2018 // A group of former employees at American International Group Inc. won a U.K. court ruling that may pave the way for them to be paid $100 million in bonuses dating back to the financial crisis. The 23 former traders,...
Insurers’ Firefighting Teams Move to Limit Damage from California Wildfires
Nov 13 2018 // California’s raging wildfires are so bad that American International Group Inc. and Chubb Ltd. are deploying teams of specialists and former firefighters to spray retardants on homes. The season may soon rank among...
SEC Wants More Details from AIG on Berkshire Reinsurance
Nov 12 2018 // The U.S. Securities and Exchange Commission told American International Group Inc. to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according to correspondence made...
Patrick Ryan Hails Program Business Amid Retail Consolidation, Moves Toward MGAs
Nov 8 2018 // Target Markets Program Administrator Association Industry Keynote Speaker Patrick G. Ryan, founder, chairman and CEO, Ryan Specialty Group, addressed attendees at the group’s 18th Annual Summit on Oct. 22., in...
AIG Finalizes Acquisition of Program Manager Glatfelter Insurance
Nov 7 2018 // American International Group said it has completed the acquisition of insurance program manager Glatfelter Insurance Group, a deal announced in September. The addition is a key element in AIG’s strategy to reposition...
AIG Winds Down Iran Business It Acquired Along With Validus
Nov 7 2018 // American International Group Inc. is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump...
AIG Executives Outline Path to Underwriting Profit in 2019
Nov 2 2018 // “We do see it coming. We expect that in 2019 we’re going to be in an underwriting profit position, not a great one, but a profit. And we’ll move from there to a great one.” So said Brian...
AIG Again Battered by Catastrophes But Reinsurance Lowers 3Q Net Loss
Oct 31 2018 // Catastrophe losses in Japan and North America pushed American International Group to a net loss of $1.3 billion for the third quarter of 2018, compared to a net loss of $1.7 billion in the prior-year quarter. Adjusted...
AIG Appoints Bilsby from Talbot as Global Head of Specialty
Oct 30 2018 // American International Group Inc. announced the appointment of Peter Bilsby as global head of Specialty. In this new role, Bilsby will report to Christopher Townsend, chief executive officer of AIG General Insurance...
AIG’s European Restructuring Gets Nod in Final Step of Brexit Preparations
Oct 26 2018 // American International Group, Inc. announced its European subsidiary, AIG Europe Ltd. (AEL) has received approval from the High Court of England & Wales to transfer its business into two new entities: American...
AIG Estimates Q3 Catastrophe Losses Will Be $1.5 Billion
Oct 18 2018 // American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami,...
Hurricanes Behind Cuts in Earnings Estimates for AIG, Chubb, Other S&P 500
Oct 16 2018 // The S&P 500 has plummeted more than 5 percent since early October. The culprit: slowing earnings growth stemming from rising interest rates and oil prices, according to Goldman Sachs Group Inc. That straightforward...
Reinsurers Including AIG’s Validus Await Hurricane Michael Claims
Oct 11 2018 // American International Group Inc.’s Brian Duperreault spent his first year as chief executive officer on a rebuilding effort, and his biggest acquisition is the one that can magnify the insurance giant’s...
AGCS Taps Brewer from AIG, Promotes Tiplady, for UK Broker Relationship Team
Oct 11 2018 // Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, announced the appointments of Lee Brewer as senior broker relationship manager and Harriet...
AIG Is Seeking More Than $200M for Manhattan Hotel
Oct 8 2018 // AIG Global Real Estate is seeking buyers for a Manhattan hotel that could fetch more than $200 million, according to a person familiar with the matter. AIG has tapped Eastdil Secured LLC to find prospective buyers for the...
Former AIG, Ironshore Executive Mitrovic Joins Cooper Levenson Law Firm
Sep 24 2018 // Veteran insurance executive Michael Mitrovic has joined the Cooper Levenson law firm in its insurance defense litigation practice. Mitrovic’s career spans nearly 40 years in the insurance industry. He served as...
AIG to Acquire Program Manager Glatfelter Insurance Group
Sep 21 2018 // American International Group has agreed to acquire Glatfelter Insurance Group, a prominent specialty insurance broker and program manager headquartered in York, Pennsylvania. The terms of the transaction were not...
AIG CEO Expects More Trading of Insurance-Linked Assets
Sep 17 2018 // American International Group Inc. Chief Executive Brian Duperreault said he sees “huge potential” within the insurer’s portfolio for use of a market in which investors trade assets tied to insurance...
XL Catlin’s Duffy to Join AIG as Bermuda Manager
Sep 11 2018 // American International Group, Inc. announced that Catherine Duffy will join the company’s General Insurance business as Country Manager of Bermuda, at a date to be determined. In this role, Duffy will oversee...
CEO Duperreault Bets on Underwriting Culture, Greenberg Ways in Restoring AIG to Greatness
Sep 11 2018 // Brian Duperreault, who rejoined American International Group Inc. as chief executive officer last year to turn the company around, remembers another era when the insurer was trying to blaze a trail toward greatness. In...
