Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Signs Definitive Agreement with Fed of New York for $85B Credit Facility
Sep 23 2008 // American International Group Inc. (AIG) announced that it has signed a definitive agreement with the Federal Reserve Bank of New York for a two-year, $85 billion revolving credit facility. Interest will accrue at a rate...
AIG Singapore Head Resigns
Sep 22 2008 // The head of the Singapore unit of troubled insurance giant American International Group Inc. resigned Friday after 14 years with the company. Mark O’Dell, general manager of AIA Singapore, has left and Executive Vice...
Disaster Fatigue
Sep 22 2008 // After President George W. Bush surveyed the damage along the Texas Gulf Coast just days after Hurricane Ike rammed its way onto Galveston Island, he urged Americans not to succumb to “disaster fatigue” and to...
Credit Rating Agencies’ Cuts on AIG Signal Downgrades Ahead
Sep 21 2008 // Credit rating agencies, criticized for moving too slowly in cutting ratings on Wall Street firms and the complex instruments they devised, are now accused of acting too quickly. As the credit crisis enters a new phase, the...
AIG’s First Half Showed Slump
Sep 21 2008 // American International Group Inc., which was bailed out by an $85 billion government loan last week, not only has posted billions of dollars in losses in its financial services operations but its more traditional insurance...
Chicago’s Mayor Hits AIG Bailout; Other Midwest Officials More Positive
Sep 19 2008 // Midwestern reaction to the bail out of insurance giant American International Group (AIG) varies by regions and officials. In Chicago Mayor Richard Daley is not happy about the Federal Reserve Bank’s decision to...
Some See Spitzer Role in AIG Crisis
Sep 19 2008 // Lost by many in the week’s financial markets’ nightmare were ghosts of Wall Street past. Some in business and politics are blaming the need for Tuesday’s historic federal bailout for American...
New AIG CEO Liddy: Insurer’s ‘Mess is Solvable’
Sep 19 2008 // American International Group Inc., which narrowly escaped financial collapse this week, on Thursday said it had named Edward Liddy as chairman and chief executive. Liddy succeeds Robert Willumstad, who is leaving after...
California Commissioner Issues Statement on AIG
Sep 19 2008 // Responding to the federal government’s bail-out of AIG, California Insurance Commissioner Steve Poizner issued the following statement, noting the two dozen companies under the AIG corporate umbrella that are...
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
Ark., La. Commissioners Reassure Policyholders After AIG Bailout
Sep 18 2008 // Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance...
S&P Says AIG Ratings “Developing;’ Short-Term Ratings Raised
Sep 18 2008 // Standard & Poor’s Ratings Services has revised the CreditWatch status of most of its ratings on the AIG group of companies to CreditWatch developing from CreditWatch negative. The revisions affect its...
Rhode Island Acts to Safeguard Investments Managed by AIG
Sep 18 2008 // Rhode Island is acting to safeguard the estimated $131 million it has in investment accounts managed by financially struggling insurance giant American International Group. State officials have formed a “SWAT...
N.Y. Gov Paterson Praises Insurance Chief Dinallo on AIG Rescue
Sep 18 2008 // New York officials helped giant insurer American International Group Inc. strike a historic loan deal with the Federal Reserve on Tuesday night to keep AIG afloat and avoid another fiscal crisis for the state. Gov. David...
Ratings Recap: AIG (Taiwan) Lehman Re, Swiss Re (Denmark), Connaught, Allianz (Austria), China Ins. (Singapore)
Sep 18 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from...
Key Lawmaker Wants AIG Internal Documents on CEO, Board, Pay
Sep 18 2008 // Rep. Henry Waxman, chairman of the U.S. House Committee on Oversight and Government Reform, has asked the new chief executive officer at American International Group Inc. to give his committee internal documents related to...
State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG
Sep 18 2008 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy Praeger today issued the following statement regarding American International Group (AIG): In times of crisis, the...
AIG Elects Liddy as CEO
Sep 18 2008 // American International Group, Inc. (AIG) announced that its board of directors has elected Edward M. Liddy as chairman and CEO. Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead...
AIG Will Sell Assets, But at What Price?
Sep 18 2008 // American International Group Inc. may not sell assets for as much as it would like, as it scrambles to meet terms of its U.S. government bailout. The giant insurer narrowly avoided bankruptcy late Tuesday after the U.S....
A.M. Best: AIG Ratings Remain Downgraded to ‘A’ and Under Review
Sep 18 2008 // A.M. Best Co. has reported that all financial strength ratings (FSR) and issuer credit ratings (ICR) of American International Group, Inc. (AIG) and its subsidiaries are unchanged from the downgrades it issued earlier this...
