Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
The View From London
Dec 21 2008 // Insurers Can Weather Global Financial Crisis Buyers that aren’t buying; houses that aren’t selling, banks that aren’t lending — sound familiar? But in this case it’s the United Kingdom that...
AIG Shareholder Suit Settled
Dec 19 2008 // A Delaware judge has approved a $115 million settlement in a shareholder lawsuit against former executives of insurance giant American International Group. The settlement approved this week was reached in September, just...
Michigan Man Files Suit to Stop AIG Bailout on Religious Grounds
Dec 17 2008 // A Michigan man is challenging the government’s bailout of American International Group Inc., claiming the move is illegal because the insurer has financial products that promote Islam and are anti-Christian. The...
Lawsuit Seeks to Stop U.S. Bailout of AIG as Anti-Christian, Anti-U.S.
Dec 16 2008 // A Michigan–based Christian rights group has filed suit against the federal government claiming the government’s loan to insurance giant American International Group (AIG) is illegal because AIG has financial...
AIG Sells Residential Mortgage-Backed Securities Portfolio to Government
Dec 16 2008 // American International Group’s life insurance companies have sold residential mortgage-backed securities with a face value of $39.3 billion to the Federal Reserve Bank of New York (FRBNY) as part of its efforts to...
Ex-General Re Chief Ferguson Sentenced 2 Years for Fraud
Dec 16 2008 // A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal...
AIG Promotes Mucerino, Thomas, Portalatin, Baugh at International Unit
Dec 12 2008 // American International Underwriters (AIU), the ), the international property/casualty insurance organization of American International Group, Inc. (AIG), announced a number of executive appointments. Ralph Mucerino, senior...
Maryland’s Rep. Cummings Seeks Details on AIG ‘Retention Payments’
Dec 12 2008 // Congressman Elijah E. Cummings (D-Md.), a senior member of the House Committee on Oversight and Government Reform and a member of the Joint Economic Committee, wants more information on employee retention payments being...
Insiders Say AIG Slashing Prices to Win Business in Moves That May Burn Rivals, Taxpayers
Dec 11 2008 // American International Group Inc. is cutting prices to win new business and boost market share, competitors and others in the industry say, but taxpayers could again be stuck with the tab. Since a U.S. government bailout,...
AIG CEO Liddy Says Asset Sales May Be Delayed
Dec 11 2008 // The CEO of U.S. insurer American International Group (AIG), which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans,...
AIG’s Lexington Loses Another Top Executive as Kelly Joins Ironshore
Dec 10 2008 // One day after it stole the long-time chief executive officer of giant surplus lines insurer Lexington Insurance Co., specialty insurer Ironshore Inc. announced that another former Lexington executive, Shaun Kelly, has been...
AIG Owes $10 Billion for Soured Trades, Wall Street Journal Reports
Dec 10 2008 // American International Group , once the world’s largest insurer, owes around $10 billion to other financial services firms for trades that have gone sour, the Wall Street Journal reported in its online edition...
AIG: Wall Street Journal Wrong on Report on $10 Billion Portfolio
Dec 10 2008 // American International Group, Inc. (AIG) issued the following statement regarding an article that appeared in The Wall Street Journal: A story in today’s Wall Street Journal incorrectly reports that AIG has a...
AXA, Metlife, Prudential, China’s CIC in AIG Talks
Dec 10 2008 // Insurance firms Axa S.A., MetLife Inc. and Prudential Plc., as well as China’s sovereign wealth fund CIC, are all in talks to buy a unit of U.S. insurance firm American International Group in a deal that is likely to...
Five Firms Vying for AIG Japan Units
Dec 9 2008 // Prudential Financial Inc., Manulife Financial Corp. and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc, people familiar with the...
AIG Names Eastwood to Replace Kelley as CEO at Lexington Insurance
Dec 9 2008 // American International Group (AIG) has named Peter Eastwood as president and chief executive officer of leading surplus lines insurer Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management...
Ex-CEO Greenberg: AIG Needs Unified Plan Quickly to Recover
Dec 5 2008 // Former American International Group Inc. CEO Maurice “Hank” Greenberg said the insurer could fall apart unless management quickly came up with a unified recovery plan. “You can’t hold (together) an...
Fitch Announces Rating Actions on AIG’s Latin American Subsidiaries
Dec 4 2008 // Fitch Ratings has taken rating actions on its national scale insurer financial strength (IFS) ratings on American International Group’s Latin American subsidiaries. The rating actions, which are summarized below,...
AIG in Deal with U.S. Government to Terminate Some Debt Obligations
Dec 3 2008 // American International Group Inc. and the U.S. government have reached an agreement to clear the insurer of its obligations on about $53.5 billion in toxic mortgage debt, the giant insurer said in a regulatory filing...
Canada’s Natural Gas Firm Tenaska Buys Back Interests from AIG
Dec 3 2008 // American International Group, Inc. (AIG) and Tenaska, Inc. (Tenaska) today reported that Tenaska will repurchase the interest in Tenaska Marketing Ventures, Tenaska Gas Storage and Tenaska Marketing Canada (collectively...
