Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG to Restate Past Financials as Internal Audit Continues; Acknowledges Lack of Internal Controls
May 2 2005 // American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be reduced by $2.7 billion, or...
Buffett Expresses Confidence in AIG
May 2 2005 // Billionaire investor Warren Buffett and his right hand man, Charlie Munger, expressed confidence in embattled New York insurance company American International Group Inc. as they addressed Berkshire Hathaway Inc....
AIG Reportedly to Delay Annual Report Again
Apr 29 2005 // American International Group will again delay the filing of its annual 10-K report for 2004 in order to complete its review of its accounting, according to published reports. The filing had been expected on Monday but now...
AIG WorldSource Enhances DBA Insurance Program
Apr 28 2005 // AIG WorldSource(R), a division of the Domestic Brokerage Group of American International Group, has announced enhancements to several key components of its Defense Base Act (DBA) coverage program. AIG WorldSource will now...
Spitzer, Mills on the Prowl; New York Insurance Dept. to Audit AIG
Apr 26 2005 // New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills on Tuesday announced that the Insurance Department would appoint a consultant to audit years of alleged improper booking of workers’...
Fla. Insurance Commissioner McCarty Issues Subpoenas to 17 Reinsurers
Apr 25 2005 // Florida insurance regulators are probing the dealings of 17 reinsurers selling finite risk policies. Florida’s Insurance Commissioner Kevin McCarty said that he has issued investigative subpoenas to the reinsurers...
AIG, Related Units Stay on CreditWatch Negative
Apr 25 2005 // Standard & Poor’s Ratings Services said Monday that it is keeping its ratings on American International Group Inc. (‘AA+/Watch Neg/A-1+’) and AIG’s subsidiaries on CreditWatch with negative...
AIG Consultants Launches Business Protection Unit
Apr 21 2005 // AIG Consultants Inc., a member company of American International Group, announced the launch of its Business Protection Division. The new unit, which was developed in tandem with AIG Corporate Security and AIG Global...
Ohio AG Gets in on the AIG Lawsuit
Apr 21 2005 // Ohio Attorney General Jim Petro is expanding the scope of the securities fraud class action lawsuit currently pending against American International Group (“AIG”) and others by filing an amended complaint in...
AIG Restructures Its Executive Governance, Adds 2 Outside Directors to Board
Apr 21 2005 // The board of directors of American International Group Inc., which is under investigation by state and federal authorities for certain accounting and reinsurance practices, has elevated public policy concerns and added...
Aon Complaint Memos Reveal Personal Lines Arrangements
Apr 18 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
NO CRIMINAL CHARGES LIKELY AGAINST AIG:
Apr 18 2005 // New York Attorney General Eliot Spitzer reassured the business world and those affiliated with American International Group that criminal charges are not likely to flow from his department’s continuing investigations...
Former CEO Greenberg Transferred $2 Billion in AIG Shares to Wife Just Days Before Quitting Insurer
Apr 14 2005 // Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory...
Pataki, Spitzer Spar Over AIG Lawyer Contributions
Apr 13 2005 // Political war broke out this week between Republican New York Gov. George Pataki and Democratic state Attorney General Eliot Spitzer as the two sides traded charges over campaign contributions related to insurance giant...
Buffett Talks, Greenberg Mum as Investigators Continue Probe of AIG
Apr 12 2005 // On the day when billionaire investor Warren Buffett was interviewed by investigators and said he told them everything he knew, Maurice Greenberg, former chairman of American International Group, revealed that he would not...
Calif. Treasurer Calls for Sweeping Reforms at AIG
Apr 12 2005 // With the alleged fraud at giant insurer American International Group (AIG) resulting in losses to the State’s pension funds of more than $400 million since Feb. 14 when it was announced that AIG had received...
Spitzer Claims ‘Powerful’ Evidence Against AIG; Stresses Today’s Witness Buffett Not Subject of Probes
Apr 10 2005 // New York Attorney General Eliot Spitzer said he disagrees with former CEO Maurice Greenberg’s attorney that accounting mistakes at American International Group were insignificant in their impact. Spitzer also...
Greenberg, AIG and Starr Consent to Court Order Protecting Documents Sought in Investigation
Apr 8 2005 // The Securities and Exchange Commission said it has obtained a protective order against Maurice R. Greenberg, C.V. Starr & Company Inc. and American International Group Inc., in the United States District Court for the...
Insurance Accounting Probe Spreads; Munich Re Questioned; Bermuda Opens Investigation
Apr 7 2005 // The accounting investigation swirling around AIG has now spread out across the ocean to reach Bermuda and Germany, as authorities questioned Munich Re about its relations ships with AIG and Island regulatorsd launched...
Greenberg Resigns from Transatlantic Board
Apr 6 2005 // The investigative earthquake that has shaken American International Group to its foundations reached into another part of the empire on Tuesday, April 5, with the announcement that former AIG Chairman and CEO Maurice R....
