Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Discloses $3 Million to be Paid in Deferred Compensation
Nov 19 2008 // American International Group Inc., the insurer getting a $152 billion federal bailout, in a regulatory filing late on Tuesday disclosed it would pay roughly $3 million to several executives under deferred compensation...
Lloyd’s Expects U.S. To Adopt Federal Regulation of Insurance
Nov 19 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 in the...
Mississippi Rebuilds Its Insurance Markets
Nov 16 2008 // Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his...
Texas Regulators Respond to AIG Financial Developments
Nov 14 2008 // With the U.S. Treasury and the Federal Reserve Board pouring more money into loans for American International Group Inc. (AIG) hoping to keep the financial giant afloat, the Texas Department of Insurance (TDI) issued a...
AIG to Terminate Voluntary Deferred Compensation Plans
Nov 14 2008 // American International Group Inc. said on Friday that it is terminating 14 voluntary deferred compensation programs involving 5,600 employees and independent agents and representatives. Approximately $500 million in earned...
Ex-CEO Greenberg Sees Value in AIG Asian Operations
Nov 13 2008 // Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the...
Meltdown 101: Why Did the AIG Bailout Get Bigger?
Nov 12 2008 // It’s a $150 billion gamble. That’s the size of the newly enlarged financial lifeline the U.S. government threw tottering insurance giant American International Group on Monday, expanding an aid package...
AIG Outlines Revised Bailout Plan
Nov 10 2008 // American International Group, Inc. (AIG) today announced agreements with the U.S. Treasury and the Federal Reserve to establish a durable capital structure for AIG, and facilities designed to resolve the liquidity issues...
AIG Reports $24B Loss in Q3; Claims ‘Strong’ Client Retention
Nov 10 2008 // Giant financially-troubled insurer American International Group Inc. posted its largest-ever quarterly loss today– $24.47 billion — as the damage from write-downs on assets related to subprime mortgages...
AIG Deal Revamp Seen Halting Losses, Says Fed Official
Nov 10 2008 // The U.S. government retooled a rescue package for insurer American International Group to take advantage of its new ability to inject capital into the firm, a senior Federal Reserve official said on Monday. Taking an...
Ratings Recap: Arch Re (Europe), Singapore Re, AIG (Taiwan), Eurasia, Hyundai (China)
Nov 10 2008 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based...
AIG Reworks Bailout; Fed Ups Support to $150B, Lowers Interest Rate
Nov 9 2008 // The U.S. government dramatically boosted its bailout of insurer American International Group Inc. and eased the terms of its loans to the company on Monday after an initial rescue plan failed to stabilize the...
S&P Outlook Turns Negative on AIG Units, Ratings Downgrade Possible
Nov 6 2008 // Standard & Poor’s Ratings Services has revised the CreditWatch status of its ratings on a number of American International Group Inc.’s P/C subsidiaries and other units with ratings derived from guarantees...
Former General Re, AIG Executives Could Face Life in Prison
Nov 5 2008 // Five former insurance executives tied to American International Group face up to life in prison under a financial manipulation scheme. The potential lengthy prison terms are the result of a federal judge’s ruling...
Survey: Agents Report Rise in Agency E&O Premiums
Nov 5 2008 // A near majority of agents and brokers responding to the 2008 Insurance Journal Agency E&O Survey said they experienced increases in their agency’s errors and omissions premium this year. Some 44.1 percent of...
Top Republican Lawmaker Asks AIG to Explain Use of Federal Funds
Nov 3 2008 // U.S. Sen. Charles Grassley, the top Republican on the Senate Finance Committee, has asked troubled insurer American International Group Inc to provide full details of its use of a $123 billion government bailout. AIG,...
AIG’s Aircraft Leasing Unit Approved for Federal Funding Facility
Nov 3 2008 // American International Group Inc.’s aircraft leasing unit has been approved to participate in the U.S. Federal Reserve’s commercial paper funding facility. International Lease Finance Corp, in a filing with the...
New York AG Confirms AIG Pay Freeze
Nov 2 2008 // Troubled insurer American International Group Inc. will freeze payments to a former CEO and officers of the unit that was the main source of its financial problems, New York Attorney General Andrew Cuomo said. “This...
Mass. Surviving Bumps in the Auto Insurance Road
Nov 2 2008 // Burnes Rules Out Permitting Insurers to Use Credit Scores; Goes Slow on Property Market Issues Massachusetts Insurance Commissioner Nonnie Burnes has presided over the biggest shakeup in the Massachusetts’ personal...
Declarations
Nov 2 2008 // Formaldehyde Concerns “Only mobile homes and only park models that fell below (the state’s formaldehyde threshold) and validated through that testing were provided to the state of Iowa.” —Assistant...
