Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Gets Bids for Aircraft Leasing Unit; Shops Asset Manager
Jan 13 2009 // American International Group Inc., moving ahead with asset sales, has received the first round of bids for its aircraft leasing unit, and is expected to start shopping its asset management business soon, people familiar...
BMO Financial Agrees to Buy AIG Life of Canada for $308 Million
Jan 13 2009 // American International Group, Inc. (AIG) announced today an agreement to sell AIG Life Insurance Co. of Canada to BMO Financial Group. Under the terms of the transaction, BMO will acquire AIG Life of Canada for...
AIG Client Sues Northrop Grumman Over Fatal 2005 Seaplane Crash
Jan 12 2009 // The maker of a vintage seaplane that crashed off Miami Beach in 2005, killing 20 people, is being sued in federal court. Federal investigators blamed faulty repair and inadequate government regulation for the crash of the...
People
Jan 11 2009 // Jim Johnstone has joined Westbrook, Conn.-based The Gowrie Group of Cos. as a producer in the Boat/Yacht department. Jim brings deep marine and sailing industry expertise that will enable Gowrie to broaden its reach into...
Reading Between the Whines
Jan 11 2009 // There are several near-constants in an insurance editor’s life when a new year rolls around. There’s the inevitable mistake of putting last year’s date on this week’s article. There’s the...
California Wildfires May Take Longer to Settle
Jan 11 2009 // Industry analysts are predicting insured losses from the Freeway Complex, Sayre and Tea Fires that burned Southern California in mid-November will range from $600 million to $800 million, as of estimates gathered in early...
Reading Between the Whines
Jan 11 2009 // There are several near-constants in an insurance editor’s life when a new year rolls around. There’s the inevitable mistake of putting last year’s date on this month’s article. There’s the...
Another Year, Different Stories to Tell?
Jan 11 2009 // The calendar pages have turned and it’s already 2009. Geez. Well, we can’t do anything about the years going by, after all it’s better than the alternative. But we can look forward certainly, to more,...
Reading Between the Whines
Jan 11 2009 // There are several near-constants in an insurance editor’s life when a new year rolls around. There’s the inevitable mistake of putting last year’s date on this week’s article. There’s the...
AIG Says Senior Executives Won’t Get $3 Million Deferred Compensation
Jan 8 2009 // American International Group Inc., the insurer getting a $152 billion federal bailout, said Wednesday that senior executives will not be given a $3 million payment that was to have been distributed by April. In a filing...
AIG’s Boren, O’Brien to Head New Ironshore Environmental Insurance Unit
Jan 6 2009 // Bermuda-based Ironshore Inc. announced that Joe Boren and John O’Brien have joined as CEO and president, respectively, of its newly established Environmental Insurance facility. The company said the new unit will...
Johnston Named CEO of AIG Environmental; Hanna Named COO
Jan 6 2009 // AIG has named Russell Johnston as president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston assumes management responsibility for AIG Environmental from Joseph Boren, who has left the company to...
AIG’s Lexington to Manage AIG Public Entity Casualty Insurance Accounts
Jan 6 2009 // AIG Commercial Insurance will service all casualty insurance coverage for the public sector through its Lexington Insurance Co., the insurer announced. Specifically, effective as of Jan. 1, 2009, Lexington’s Casualty...
2008: Top Stories of the Year
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Former AIG CEO Willumstad Foregoes Some Stock Awards
Dec 31 2008 // Former AIG chief executive Robert Willumstad will forego stock awards he was granted as part of his agreement to step into the insurer’s top post last June, the company said in a regulatory filing on...
AIG Buys $16 Billion of Collateralized Debt Obligations It Insured for Default
Dec 29 2008 // American International Group says it purchased $16 billion of complex financial instruments in an effort to reduce its exposure to insurance guarantees written against the instruments. The insurer bought investments known...
Zurich Insurance Says It’s Actively Looking for Acquisitions
Dec 23 2008 // Swiss insurer Zurich Financial Services Group, a serial acquirer in recent years, is not letting tighter credit markets hamper its pursuit of acquisitions, a company executive said on Monday. “Zurich is definitely in...
Navigators Launches Environmental Unit; AIG’s Robinson Named VP
Dec 22 2008 // Navigators Management Co. has established Navigators Environmental, a new business unit that will focus on underwriting specialized environmental insurance products on a global basis. Adrien Robinson has joined Navigators...
2008 Quotes to Remember… and Forget
Dec 21 2008 // “You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Warren Buffett on the credit crisis “As a strong supporter...
2008: A Year of Financial Storms
Dec 21 2008 // 2008 can be described as a year like no other in the property/casualty insurance world. This year, the industry witnessed the near death of the world’s largest and most successful insurance company, AIG. The soft...
