Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Easing Government Aid Terms Among Options Discussed by AIG, U.S.
Feb 27 2009 // The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under...
Texas Regulators Continue to Monitor AIG’s Financial Status
Feb 27 2009 // The Texas Department of Insurance announced it is continuing to closely monitor the financial status of American International Group Inc. (AIG) in light of recent national media reports. TDI said it is engaged in regular...
U.S. Senate Panel Sets March 5 Hearing on AIG
Feb 26 2009 // The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice...
AIG Mulls Further Government Stakes As Auction Deadline Looms
Feb 26 2009 // Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a...
Gen Re to Pay $72M for Finite Reinsurance Transaction
Feb 26 2009 // General Re Corp., a reinsurance unit of billionaire Warren Buffett’s Berkshire Hathaway Inc., agreed to pay $72 million to settle investor claims about its role in a fraudulent transaction involving American...
AIG’s Hopes for Sale of Asian Life Unit AIA Rest With 3 Bidders
Feb 25 2009 // Three potential bidders remain interested in the sale of a large stake in American International Group’s $20 billion Asian life insurance unit, people close to the matter said on Wednesday, as the auction heads into...
AIG Gets $500 Million Bids for Asset Management Business
Feb 25 2009 // American International Group Inc.’s asset management business has attracted corporate and private equity buyers with initial bids coming in around $500 million, sources familiar with the matter said. The asset...
AIG May Rethink Strategy of Asset Sales in Tough Markets
Feb 25 2009 // American International Group Inc., which is trying to dispose of assets to pay back the U.S. government after a bailout last year, will rethink its sales strategy if tough market conditions keep it from getting a good...
O’Sullivan Says Zurich Financial Sees Tougher 2009
Feb 25 2009 // Zurich Financial Services AG will find this year tougher than 2008, when profit fell 47 percent, a senior executive of the Swiss insurer said on Wednesday. Patrick O’Sullivan, vice chairman of the management board...
U.S. Considering ‘Controlled Breakup’ of AIG To Keep It Afloat
Feb 25 2009 // American International Group and U.S. authorities are in advanced discussions over a radical restructuring that would split the insurer into at least three government-controlled divisions in an attempt to keep it afloat,...
AIG Seen Willing to Give Up Majority Control of Asia ‘Jewel’ AIA
Feb 24 2009 // American International Group Inc., facing massive losses and seeking fresh funds, may be willing to give up control of its prized Asian division, worth about $20 billion, said sources with direct knowledge of the...
U.S. Treasury Declines Comment on Additional Funds for AIG, Citi
Feb 23 2009 // The U.S. Treasury Monday declined to comment on reports American International Group was seeking additional government funds and that Citigroup was in talks with the government that could lead to Uncle Sam holding as much...
AIG Reportedly Facing $60 Billion Loss; In Talks For More Government Aid
Feb 23 2009 // American International Group Inc., rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be...
Declarations
Feb 22 2009 // Siren Song “The fire department is going to be mad at me.” —A sang phrase recorded by Amanda Gessner, 19, in a Drexel Hill, Pa. convenience store surveillance camera – which led to her arrest for arson...
Insurance Industry Starts to Pay Attention to Muslim American Market
Feb 22 2009 // 24% of All Muslims in U.S. Have College Degrees; 16% Are High Income Earners While there are an estimated 130 entities selling takaful — cooperative insurance that is true to Shariah tenets of Islamic religious law...
Lawsuit Seeks to Stop U.S. Bailout Because of AIG’s Takaful Sales
Feb 22 2009 // American International Group’s involvement with the Islamic insurance market at the same time it is taking government bailout funds has provoked the ire of a Christian rights group in the U.S. The Michigan-based...
Declarations
Feb 22 2009 // Devastating “From what I saw today, it was incredible, and we only saw a very small portion today. If you extrapolate that over the entire geographic area that is impacted by Kentucky, it’s a devastating...
People
Feb 22 2009 // American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who...
Prudential In Lead to Acquire AIG Japanese Life Insurance Units
Feb 20 2009 // Prudential Financial Inc. is leading the race to buy two Japanese life insurers put on sale by American International Group Inc. in a deal due to close next week, sources familiar with the matter said on Friday. AIG Edison...
AIG Winding Down Troublesome Financial Products Operation
Feb 17 2009 // By year end, American International Group Inc. expects to have largely wound down a money-losing financial products unit that was the cause of its near-collapse last year, said Gerry Pasciucco, hired three months ago to...
