Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG vs. Greenberg Trial: Stock Flown to Bermuda to Avoid Seizure
Jun 18 2009 // The former head of ailing U.S. insurance giant AIG told a court Wednesday that he had a private jet fly a large block of the company’s stock to Bermuda from New York to prevent AIG from seizing it. “It was a...
Former General Re Executive Given Probation
Jun 18 2009 // A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John...
Ex-CEO Greenberg: No Fiduciary Duty to Fund AIG Compensation Plan
Jun 17 2009 // Maurice “Hank” Greenberg, former chief executive of insurer AIG, testified before a federal jury on Tuesday that he did not have a fiduciary duty to fund an AIG compensation plan. “I did not view myself...
Special Examiner To Oversee AIG’s California Insurance Operations
Jun 17 2009 // As American International Group (AIG) continues its restructuring, California Insurance Commissioner Steve Poizner has appointed a special examiner to assist in the monitoring of AIG’s insurance...
Lawyers Hurl Opening Volleys in Trial of AIG Against Ex-CEO Greenberg
Jun 17 2009 // Witnesses began testifying Tuesday in the civil trial of American International Group Inc.’s former top executive, accused of plundering an AIG retirement program of billions of dollars. Attorney Theodore Wells told...
Obama Insurance Views Mirror Those of P/C Agents, Insurers, Regulators
Jun 17 2009 // The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the...
AIG Stock Fight With Ex-CEO Greenberg Heads to Trial
Jun 12 2009 // AIG, days before a high-profile legal fight with a company controlled by former CEO Maurice Greenberg heads to court, promised to use any funds won at trial to repay U.S. taxpayers. “While any relief granted for...
New York Investment Firm, South Korean Bank to Buy AIG Buildings
Jun 10 2009 // A consortium including a New York investment firm and a Korean bank agreed to buy American International Group Inc.’s New York headquarters, the broker, CB Richard Ellis, said Tuesday. Youngwoo & Associates and...
Federal Reserve Shows Loss on Assets from Bailed Out AIG, Bear Stearns
Jun 10 2009 // The U.S. Federal Reserve drew back the curtain on its emergency repairs to the financial system on Wednesday, showing $5.3 billion in losses on assets taken over from firms it bailed out in 2008. In a report on its $2.1...
AIG Picks Buyer for Aircraft Unit
Jun 8 2009 // American International Group Inc. has picked a group that includes private equity firms Onex Corp and Greenbriar Equity Group as the preferred bidder for its aircraft leasing unit, a source familiar with the situation said...
AIG Announces Pricing on Secondary Offering of Translantic Shares
Jun 5 2009 // American International Group, Inc. (AIG) announced that an underwritten public offering of 26 million shares of Transatlantic Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its subsidiary, American Home Assurance...
AIG Weighs Options In Sale of Aircraft Leasing Unit
Jun 4 2009 // American International Group Inc. is in talks to line up financing to facilitate the sale of its aircraft leasing unit, but it will consider options such as selling some aircraft if it fails to do so, a person familiar...
Michigan Suit Challenging AIG Bailout on Religious Grounds Proceeds
Jun 4 2009 // A Michigan man who is challenging the government’s bailout of American International Group has won an early legal victory. U.S. District Judge Lawrence Zatkoff recently refused to dismiss a lawsuit filed in December...
Judge Rules Jury to Hear Claims in Starr-AIG Battle
Jun 4 2009 // A jury should hear the claims in litigation between American International Group Inc. and Starr International Co. Inc. controlled by the troubled insurance giant’s former chief executive, Maurice “Hank”...
AIG to Sell Argentina Consumer Finance Operations
Jun 3 2009 // American International Group, Inc. (AIG) announced that it has entered into an agreement to sell 100 percent of its shares in its consumer finance operations in Argentina, consisting of Compania Financiera Argentina S.A....
AIG to Sell New York Buildings Including Pine St. Headquarters
Jun 3 2009 // American International Group Inc. has reached a deal to sell two New York buildings, including its downtown Manhattan headquarters, a source familiar with the matter said Tuesday. The buildings being sold are located at 70...
AIG Names Martinez CEO of United Guaranty
Jun 2 2009 // American International Group, Inc. (AIG) has named Eric Martinez, Jr. as chief executive officer of United Guaranty Corp. (UGC). UGC, based in Greensboro, North Carolina, is a provider of mortgage guaranty...
Declarations
Jun 1 2009 // National Producer Licensing Need “Throughout the current financial crisis, the state insurance regulatory system continues to show how well it protects both individual consumers and businesses. Although the system...
AIG CEO, Chairman Liddy Calls It Quits
Jun 1 2009 // Finding a New CEO Won’t Be Easy, Consultants Say American International Group Inc. (AIG) announced on May 21 that Chairman and CEO Edward M. Liddy intends to step down once the board finds replacements for him. But...
Business Moves
Jun 1 2009 // AIG American International Group has signed an agreement to sell its prime real estate holding in Tokyo for approximately $1.2 billion to Nippon Life Insurance Co. The property includes approximately one acre of land on...
