Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Washington Regulator Issues Statement on AIG
Sep 18 2008 // In response to consumer inquiries about insurance companies owned by the troubled financial conglomerate, American International Group (AIG), Washington Insurance Commissioner Mike Kreidler issued the following statement...
AIG Board Accused of Mismanagement by Pension Fund
Sep 18 2008 // A public pension fund has sued the chief executive and board of American International Group Inc, accusing them of mismanagement and “grossly imprudent risk taking” that led to the insurer’s $85 billion...
Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely
Sep 17 2008 // Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s...
Swiss Re Details Exposures: Lehman $46 Million; AIG $178 Million
Sep 17 2008 // Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5...
AIG Crisis Restarts Debate Over State vs. Federal Insurance Regulation
Sep 17 2008 // The crisis surrounding giant insurer American International Group has reignited the debate within insurance circles over whether state or federal regulation is preferable. The parent AIG got into trouble with credit...
For AIG, $85 Billion Might Not be Enough
Sep 17 2008 // American International Group’s deal with the government is a bankruptcy liquidation in all but name, and the $85 billion it has borrowed may not be enough extra money to pay off all its obligations, particularly in...
U.S. Looks to Former Allstate CEO Liddy to Run AIG
Sep 17 2008 // The U.S. government is betting former Allstate chief Edward M. Liddy is the safest pair of hands to oversee the dismantling of American International Group Inc. and prevent further unraveling of the world’s stressed...
AIG Woes Offer Double Benefit for Insurance Rivals
Sep 17 2008 // Insurance rivals stand to reap the benefits from the woes of American International Group, snapping up assets AIG is forced to sell while gaining greater pricing power as AIG pulls in its claws. Zurich Financial Services...
Greenberg Tells CNBC: Saving AIG is in ‘National Interest’
Sep 16 2008 // The man who built and ran global insurance giant American International Group for more than 35 years says it is in the “national interest that AIG survive.” Speaking in an interview on CNBC-TV, Maurice...
Greenberg’s C.V. Starr May Try to Take Over Struggling AIG
Sep 16 2008 // A company led by Hank Greenberg, a former chief executive of American International Group, may try to take over the insurer in a proxy fight or tender offer, according to a regulatory filing. Greenberg’s company,...
Democratic, Republican Senate Banking Leaders Cool to AIG Loan
Sep 16 2008 // Both leaders of the U.S. Senate Banking Committee Tuesday expressed reservations about the federal government intervening to help insurer American International Group Inc. Connecticut Democratic Sen. Christopher Dodd,...
States May Help AIG; Also Assure Policyholders Claims Will be Paid
Sep 16 2008 // State insurance officials from Pennsylvania and New York, where troubled American International Group’s insurance subsidiaries have a an estimated $120 billion in assets, are offering to assist AIG in raising...
Update: AIG Cash Crisis Mounts; Greenberg Explores Buyout; Conservatorship Reportedly Eyed
Sep 16 2008 // American International Group Inc. shares sank 48 percent on a report that regulators might take control of the giant insurer, though a U.S. government source said federal agencies do not have legal authority to put AIG...
CNBC Reports Federal Government May Loan AIG Funds
Sep 16 2008 // American International Group Inc. shares plummeted after the insurer’s credit ratings were cut, heightening concerns it might file for bankruptcy and further upset the global financial system. In late-morning...
Credit Rating Downgrades Hurt AIG Efforts to Raise Cash
Sep 16 2008 // American International Group Inc. shares plummeted in early trading Tuesday after the insurer’s credit ratings were cut, jeopardizing efforts to raise cash necessary for its survival. In pre-market trading, AIG...
Best Lowers Most of AIG’s Ratings to ‘A’ from ‘A+’ – Still ‘Under Review’
Sep 16 2008 // A.M. Best Co. has made an announcement concerning its financial strength ratings (FSRs) and its issuer credit ratings (ICRs) on American International Group and a number of its subsidiary companies. These actions are...
Feds: AIG Rescue Needed Because of Broad Reach
Sep 16 2008 // The government rescue of insurer American International Group Inc was necessary, in contrast to Lehman Brothers, because the insurer has extensive ties to other firms and retail products, senior Fed staff said on...
AIG Statement on $85 Billion Federal Reserve Loan
Sep 16 2008 // On Sept. 16 at 11:25 p.m. EDT, the board of directors of American International Group Inc. issued the following statement in response to the announcement by the Federal Reserve Board that the Federal Reserve Bank of New...
AIG Rescue at Hand: Government to Take 80% Stake in Exchange for $85 Billion
Sep 16 2008 // An $85 billion government rescue of insurer American International Group Inc. looked increasingly likely Tuesday to stave off a bankruptcy that would have thrown world markets back into turmoil. The Federal Reserve will...
Federal Reserve Statement on $85 Billion AIG Loan Plan
Sep 16 2008 // On Sept. 16 at 9:00 PM EDT, the Federal Reserve issued the following statement on AIG: The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York...
