Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG on ‘Clear Path to Repaying Taxpayers,’ Says CEO Benmosche
Jun 7 2010 // But Treasury Chief Says a Full Recovery for Taxpayers Remains Uncertain The head of bailed-out insurance giant American International Group said in late May that the company was on its way to repaying the government, but a...
AIG CEO Benmosche Looks Safe Despite AIA Deal Failure
Jun 3 2010 // When large deals fail, heads often roll. In the case of Prudential Plc’s failed attempt to buy American International Group Inc.’s Asian life insurance unit for $35.5 billion, the British insurer’s...
Prudential Deal Exit Raises Prospects for AIA IPO
Jun 2 2010 // UK insurer Prudential Plc is pulling out of its bold $35.5 billion takeover of AIG’s Asian life insurance arm, ending a 3-month battle with shareholders who had argued the deal was over-priced. The widely expected...
AIG Rejects Lower Prudential Offer for AIA; Deal in Jeopardy
Jun 1 2010 // American International Group said it would not consider revising the terms of a deal for its Asian life insurance unit with British insurer Prudential Plc, in a move that threatens to derail the industry’s largest...
Pru In Talks to Lower Price for AIG’s Asian Unit, AIA
May 28 2010 // Prudential has entered talks to cut its $35.5 billion offer for for AIG’s Asian life insurance arm, in a last-ditch bid to salvage a deal criticised by shareholders as too expensive. Prudential chief executive...
AIG on ‘Clear Path to Repaying Taxpayers,’ Says CEO Benmosche
May 27 2010 // The head of bailed-out insurance giant American International Group on Wednesday said the company was on its way to repaying the government, but a U.S. Treasury official said taxpayers could still face losses. AIG is...
Treasury: AIG Risk Reduced But Full Recovery for Taxpayers Uncertain
May 26 2010 // Bailed-out insurance giant American International Group has slashed its exposure to credit derivatives by nearly two-thirds under government ownership, but a full recovery for taxpayers remains uncertain, a senior U.S....
U.S. Drops Criminal Probe Against AIG Financial Products Executives
May 24 2010 // The U.S. Justice Department has dropped a probe of American International Group Inc. executives involving the credit default swaps that sent the insurer to the brink of bankruptcy and forced a huge taxpayer bailout,...
Report: AIG to Revisit Float Plan if Prudential AIA Bid Fails
May 24 2010 // The U.S. Treasury is re-looking at plans to float the Asian unit of AIG in case a bid by Prudential to buy life insurer AIA fails, two British newspapers reported on Sunday. Prudential boss Tidjane Thiam has been...
Charitable Group Plans to Honor Ex-AIG Head Greenberg
May 24 2010 // A major industry foundation is planning to recognize former AIG chief and current C.V. Starr CEO Maurice “Hank” Greenberg. The Insurance Industry Charitable Foundation (IICF) said it will present Greenberg with...
UK’s Prudential Prices $21 Billion Cash Call; Woos Investors
May 17 2010 // British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG’s Asian unit. The UK’s Financial Services Authority...
AIG Reviewing Goldman, Other Deals
May 12 2010 // AIG is reviewing its dealings with all its counterparties during the financial crisis, including Goldman Sachs Group Inc., to see if it was harmed, Chief Executive Robert Benmosche said Wednesday. The bailed-out insurer...
AIG CEO Benmosche Confident Asian Life Unit Sale Will Go Through
May 11 2010 // American International Group Inc. Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter...
Britian’s Pru, Regulators Close to Deal on Buy of AIG’s Asian Unit
May 10 2010 // Britain’s Prudential has made progress in make-or-break talks with UK regulators over its acquisition of AIG’s Asian arm, and is close to announcing a deal, sources familiar with the matter said. The...
AIG Posts $1.5B Net Income in Q1; Chartis Sees 1.1% Drop in Premiums
May 7 2010 // American International Group Inc. turned a quarterly profit after a year-ago loss as the bailed-out insurer got a boost from its investments and general insurance operations appeared to stabilize. Chartis, the general...
Did Its Timberwolf Deal Give Goldman Early Clue to Later AIG Woes?
Apr 30 2010 // The blow-up of a $1 billion subprime mortgage-linked security called Timberwolf 1 may have provided Goldman Sachs Group with an early clue about trouble to come at insurance giant American International Group . It may be...
AIG Sale of Asian Unit AIA to Prudential Hits Snag
Apr 28 2010 // Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer...
Stabilization of AIG Continues, Government Reports
Apr 28 2010 // American International Group (AIG) has “remained relatively stable” thanks in great measure to the more than $180 billion in taxpayer assistance the giant insurer has received since March 2008, according to a...
Judge: Fraud Case Against Ex-AIG CEO Greenberg ‘Devastating’
Apr 21 2010 // New York state prosecutors have “a devastating case” against Maurice “Hank” Greenberg, the former American International Group Inc. chief executive accused of fraud over a reinsurance transaction 10...
One Down, More to Go for AIG and Cordray
Apr 19 2010 // Ohio Attorney General Richard Cordray won a round in early April in his lawsuit alleging insurance companies and brokers conspired to fix commercial casualty insurance prices during a period extending from 2001 to...
