Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Bright Spots and Challenges Go Hand in Hand in Louisiana
Dec 3 2008 // Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state’s property casualty insurance industry, says Louisiana...
AIG Offers First Takaful Homeowners Insurance Product for U.S.
Dec 2 2008 // Risk Specialists Companies, Inc. (RSC), a subsidiary of AIG Commercial Insurance, is introducing what it says is a first in the U.S.: a homeowners insurance product that is compliant with key Islamic finance tenets and...
Unibanco, AIG in Joint Repurchase Plan of Brazilian Joint Venture Shares
Dec 1 2008 // Unibanco – União de Bancos Brasileiros S.A. – and American International Group, Inc. announced that they have entered into an agreement to repurchase their crossholdings in Unibanco AIG Seguros S.A. (UASEG)...
Munich Re Chairman Sees Improving Results in 2009
Dec 1 2008 // In an interview with Reuters, Munich Re’s Chairman, Nikolaus von Bomhard, expressed his hopes that fatter premiums would make 2009 more of a “normal” year after Munich Re’s likely failure to meet...
AIG Agrees to Sell Private Bank to Dubai’s Aabar Investments PJSC
Dec 1 2008 // American International Group has announced an agreement to sell AIG Private Bank Ltd., a wholly-owned subsidiary of AIG, to Aabar Investments PJSC, a global investment company based in Abu Dhabi. The bulletin said:...
Business Moves
Nov 30 2008 // Arthur J. Gallagher The HR Group International insurance broker Arthur J. Gallagher & Co. reported it has acquired The HR Group, LLC of Brentwood, Tennessee. Terms of the transaction were not disclosed. The HR Group...
Declarations
Nov 30 2008 // Taking Care “At the end of the day, we’re going to make sure everyone is taken care of.” —North Carolina Gov. Mike Easley upon touring Johnston and Wilson counties after a weekend tornado killed two...
People
Nov 30 2008 // Willis Group Holdings appointed Phillip Ellis leader of a new division focused on growing the company’s Enterprise Risk Management business for Willis’ Global Retail and Specialty teams. He was most recently...
Less Than Stellar
Nov 30 2008 // The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On the...
A Good Win in North Carolina for Experience
Nov 30 2008 // New Chief Plans a Blog, Statewide Agent Meetings and a Solution for Coastal Property Owners and Insurers On Nov. 4, Democrat Wayne Goodwin won election as North Carolina Insurance Commissioner with 52 percent of the vote,...
Less Than Stellar
Nov 30 2008 // The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On the...
California Wildfires May Take Longer to Settle
Nov 30 2008 // 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. Comparatively, those losses are...
Lloyd’s Expects U.S. To Adopt Federal Regulation of Insurance
Nov 30 2008 // Pushed by the global economic crisis, the United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to some financial and insurance executives. Federal regulation —...
Steady Habits Make for a Stable Market
Nov 30 2008 // Regulator Says Nutmeg State Will Take AIG and Catastrophe Problems in Stride Connecticut Insurance Commissioner Thomas Sullivan considers himself something of an insider when it comes to the insurance industry –...
Declarations
Nov 30 2008 // Dear Elaine: Send Money “Given the bearish economic forecasts for the next two to three years, we anticipate the unemployment rate will continue to rise significantly. It is essential that our states have sufficient...
AIG Uses Sale of Stock to U.S. Treasury to Lower Loan Amount
Nov 26 2008 // American International Group, Inc. (AIG) reported that it will use the proceeds from a U.S. Treasury purchase of some of its preferred stock to reduce what it owes the federal government. The Treasury bought four million...
CEO Gets $1 As AIG Adopts Salary Restrictions for Top Executives
Nov 25 2008 // American International Group, Inc. (AIG) announced voluntary restrictions on executive compensation that include a $1 salary for its chief executive officer; no 2008 annual bonuses and no salary increases through 2009 for...
China Life Interested in Acquring AIG Asia Assets
Nov 24 2008 // China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on...
New York AG Settlement with ex-AIG Chief Greenberg Breaks Down
Nov 24 2008 // Efforts to settle a long-running fraud lawsuit against American International Group Inc.’s former chief, Maurice “Hank” Greenberg, have broken down amid the insurer’s financial woes, a lawyer from...
Report China Fund Seeks Stake in AIG Unit
Nov 21 2008 // A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG, in a deal that could be worth up to $10.6 billion, Japan’s...
