Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Marsh Expands M&A Practice
Sep 15 2010 // Insurance broker Marsh has added five industry veterans — four from competing broker Aon — to its private equity and mergers and acquisitions practice James O’Brien, Jason Hawkins and Craig Warnke join...
China’s Largest Bank to Sell AIG Life Insurance Products at Branches
Sep 10 2010 // Industrial and Commercial Bank of China Ltd (ICBC) and soon-to-be listed AIA Group Ltd have signed an agreement under which ICBC will sell AIA’s life insurance products at its branches, the two companies said on...
Ex-AIG CEO Sullivan Joins Willis Group
Sep 8 2010 // Former AIG Chief Executive Officer Martin Sullivan, who was ousted three months before the U.S. government bailed the insurer out, is joining Willis Group Holdings PLC, the insurance broker said on Wednesday. Sullivan will...
AIG Seen Leaning towards New Taiwan Unit Sale
Sep 7 2010 // American International Group Inc is leaning towards a new sale of its Taiwan unit, according to one of the original buyers, opening the way for a number of Taiwanese banks who have expressed interest. Hong Kong-listed...
Business Moves
Sep 6 2010 // Raintree Insurance, PacWest Alliance PacWest Alliance Insurance Services Inc. welcomed its newest member: Raintree Insurance Agency Inc. Raintree Insurance Agency is an independent insurance agency with offices in San...
AIG Settlement Covers $60 Million of Ex-CEO, Ex-CFO Costs
Sep 6 2010 // Former longtime AIG chief Maurice “Hank” Greenberg and another former executive will get $60 million from the company’s insurers to cover legal and other costs as part of a proposed settlement of investor...
Report AIG Files Application to List AIA on Hong Kong Exchange
Sep 3 2010 // American International Group Inc filed an application with the Hong Kong Stock Exchange to list its Asian life insurance unit, AIA Group Ltd, a source familiar with the matter told Reuters Thursday. The application brings...
AIG Taiwan Unit Buyer Seeks Favorable, Constructive Ending
Sep 2 2010 // The buyers of American International Group Inc’s Taiwan unit will be constructive as they seek to pursue the $2.2 billion bid even after Taiwan’s regulators rejected it, a top executive said on Thursday. Robert...
Taiwan’s Fubon: ‘Would Consider’ AIG Taiwan Unit Acquisition
Sep 1 2010 // Taiwan financial holding firm Fubon Financial would consider buying American International Group Inc’s Taiwan insurance unit if it was put back on sale, Fubon’s president said on Wednesday. Speaking at an...
China Strategic Considers Appeal of Taiwan’s Decision on AIG Unit Sale
Sep 1 2010 // China Strategic Holdings Ltd. will decide whether to appeal a decision by Taiwan’s regulators to block its planned purchase of American International Group Inc’s Taiwan unit. In a statement on Wednesday, China...
Taiwan Regulator Rejects AIG Unit Sale
Aug 31 2010 // Taiwan regulators rejected AIG’s planned $2.2 billion sale of its Taiwan unit to a China-related group, citing regulations on mainland investment, and leaving the insurer facing another auction. American...
AIG Settlement Covers $60 Million of Ex-CEO, Ex-CFO Costs
Aug 30 2010 // Former longtime AIG chief Maurice “Hank” Greenberg and another former executive will get $60 million from the company’s insurers to cover legal and other costs as part of a proposed settlement of investor...
Report AIG Decides against Strategic Investor for AIA
Aug 27 2010 // American International Group has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday. About four...
Report AIG to Decide on AIA Pre-IPO Sale by Next Week
Aug 25 2010 // American International Group is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters...
AIG Pays Back $4B of Federal Loan
Aug 23 2010 // Bailed-out insurer American International Group Inc. said Monday it paid back nearly $4 billion in U.S. loans in its single largest cash payment so far to reduce its debt to taxpayers. The payment reduces the size of the...
Report China Consortium Planning to Bid for 30% of AIA
Aug 16 2010 // A consortium of leading Chinese companies including Industrial and Commercial Bank of China Ltd, China Life Insurance Co Ltd, plans to bid for a 30 percent stake in American Insurance Group Ltd’s Asian life insurance...
AIG Still a Risky Bet for Investors
Aug 13 2010 // American International Group Inc, already a big headache for taxpayers, could leave its shareholders with a migraine. AIG, which is nearly 80 percent owned by the U.S. government, owes taxpayers more than $100 billion....
Fortress to Buy Majority of AIG Consumer Finance Unit
Aug 12 2010 // American International Group Inc is selling most of its consumer finance unit to Fortress Investment Group at a deep discount and will recognize a $1.9 billion pretax loss as a result. AIG, majority owned by the U.S....
South Carolina Says Feds Can Hear Case Against AIG
Aug 9 2010 // The federal courts can hear a case alleging that American International Group (AIG) Inc. submitted fraudulent data to South Carolina so that it could charge inflated premiums for workers’ compensation insurance...
AIG Posts Q2 Loss; Chartis Insurance Stable Despite Flood, Oil Spill Claims
Aug 6 2010 // American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion...
