Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
HIIG Adds Public Company D&O Coverage, Picks AIG’s Bujosa to Lead
Nov 12 2020 // Houston International Insurance Group, Ltd., has expanded its management liability coverage offerings to include an excess public D&O (Directors and Officers) product. As part of this expansion, the company hired...
AIG’s Fato Adds Communications to Government Duties; Garbaccio Promoted
Nov 12 2020 // American International Group announced that Lucy Fato, executive vice president and general counsel, has assumed additional responsibilities in the newly created position global head of Communications and Government...
Update: AIG Weighs IPO or 19.9% Stake Sale of Life and Retirement Unit
Nov 6 2020 // Insurer American International Group Inc said on Friday it is considering an initial public offering or a private sale of nearly 20% of its life and retirement business to separate the unit from the rest of the company...
AIG’s Profit Slumps on Q3 Catastrophe Losses
Nov 6 2020 // American International Group Inc reported a slump in third-quarter profit on Thursday, hurt by losses related to storms, wildfires and the COVID-19 pandemic. AIG, one of the largest U.S. insurers, posted an underwriting...
AIG’s Plan to Divest Life & Retirement Business Could Prompt Ratings Downgrades
Nov 2 2020 // American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance...
AIG Names Zaffino to Succeed Duperreault as CEO; Will Spin Off Life Insurance Business
Oct 26 2020 // American International Group has disclosed significant leadership changes as well as plans to separate its Life & Retirement business into an independent company. Peter Zaffino, currently AIG’s president and...
AIG Settles Foreign Tax Credit Dispute With U.S.
Oct 23 2020 // American International Group Inc. settled a case involving cross-border transactions the government claimed amounted to improper tax shelters. The insurer agreed to pay a 10% penalty and disallow more than $400 million in...
People & Places
Oct 19 2020 // National Reinsurer AXIS Re announced the promotion of Dan Osterrieder to head of Casualty North America. Osterrieder will be responsible for general liability, auto, umbrella and excess, workers’ compensation,...
BHSI Hires Kidd from AIG as Head of Third Party Lines in Ireland
Oct 13 2020 // Berkshire Hathaway Specialty Insurance (BHSI) announced that Louise Kidd has joined its growing European team as head of Third Party Lines in Ireland. Louise Kidd Kidd comes to BHSI with nearly two decades of industry...
Four Senior-Level Black Managers Including Diversity Leaders Exit AIG
Sep 28 2020 // American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer’s ranks. Global inclusion head Vievette Henry and...
Berkshire Hathaway Specialty Taps AIG’s Hamon, Batchili for Executive Team in France
Sep 22 2020 // Berkshire Hathaway Specialty Insurance (BHSI) is entering the executive and professional insurance lines market in France and has appointed Olivier Hamon as head of Financial Institutions and Management Liabilities and...
Lloyd’s Names AIG/Blackboard’s Schoberth to New U.S. Market Development Position
Sep 14 2020 // Lloyd’s of London has appointed Uwe Schoberth as U.S. market development director, a new role focused on expanding its strategic relationships with retail, wholesale and reinsurance brokers in its largest market. In...
AIG Names StarStone’s Rash as CEO of Talbot Underwriting
Sep 11 2020 // American International Group announced that Chris Rash has been appointed chief executive officer of Talbot Underwriting, which operates within the Lloyd’s Insurance Market through Syndicate 1183. Rash has also been...
How One Young Brokerage Founder Plans to Target a ‘Different’ High Net Worth Market
Aug 24 2020 // As a self-taught app developer, when Hayden Kopser sees a problem, he seeks to build a solution. So, when he observed during his time working at AIG that some brokerages weren’t adequately servicing high net worth...
AIG Promotes McElroy to CEO of North America General Insurance
Aug 13 2020 // American International Group announced that David McElroy, currently president and chief executive officer of the North American operations of General Insurance, has been promoted to chief executive officer, General...
AIG’s Zaffino Sees COVID-19 Creating Beneficial ‘Flight to Quality’
Aug 6 2020 // AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. “We believe that COVID has...
AIG’s Coronavirus Hits Include Travel, Workers’ Comp, Property, Trade Credit Lines
Aug 5 2020 // Insurer American International Group Inc. racked up $730 million in COVID-19-related losses during the first half of the year, its chief executive officer said on Tuesday. The pandemic is a “formidable and ongoing...
AIG Q2 Profit Falls on Higher Catastrophe Losses, Lower Private-Equity Returns
Aug 4 2020 // Insurer American International Group Inc. on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns. Adjusted after-tax income attributable to...
AIG Will Move to New Manhattan Headquarters in 2021
Jul 22 2020 // American International Group is moving its global headquarters in 2021 as part of a continued push to modernize its operations, the company disclosed on July 21. The property/casualty insurance giant will still maintain a...
Circus Circus Sues AIG in Nevada over Rejected Coronavirus Claim
Jul 8 2020 // Circus Circus Hotel and Casino has filed a lawsuit against AIG Specialty Insurance Co. alleging that AIG wrongfully denied coverage for the company’s losses resulting from the COVID-19 pandemic. The lawsuit was filed...
