Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Glazer Joins AIG as Deputy Counsel, Corporate Secretary
Feb 28 2017 // American International Group Inc. has named Rose Marie Glazer as vice president, deputy general counsel and corporate secretary. Glazer will oversee the corporate securities, corporate secretary, and mergers and...
AIG Directors Mull CEO Hancock’s Fate After Disappointing Results
Feb 27 2017 // American International Group Inc.’s directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm’s turnaround plan, the Wall Street Journal...
AIG Among ‘Too-Big-to-Fail’ Insurers Trying to Assess Path Forward Under Trump
Feb 24 2017 // Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House...
AIG to Sell Vermont’s Stowe Mountain Ski Operations After Seven Decades
Feb 22 2017 // American International Group Inc., the insurer that’s been divesting assets to narrow its focus, agreed to sell ski operations at Vermont’s Stowe Mountain to Vail Resorts Inc. AIG will retain majority ownership...
CNA Taps Haas to Lead Florida Branch
Feb 21 2017 // CNA has appointed David Haas as vice president of the company’s Florida branch, effective Feb. 23, 2017. In this role, Haas will lead the Florida branch and grow its relationships with producers, accelerate...
CNA Appoints Ex-Endurance, AIG Executive Worman as Chief Underwriting Officer
Feb 17 2017 // CNA has named Douglas Worman to fill the newly created position of executive vice president and chief underwriting officer. He reports to Dino E. Robusto, CNA chairman and chief executive officer. In this role, Worman will...
Ratings Agencies Uphold Their Ratings on AIG
Feb 17 2017 // Despite American International Group’s poor 2016 fourth quarter earnings performance, Fitch Ratings and Standard & Poor’s both have affirmed the insurer’s ratings, with a few qualifiers slipped...
AIG’s Losing Streak Continued in Q4
Feb 15 2017 // American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened...
Greenberg Fights New York AG’s Spin on Reinsurance Saga
Feb 14 2017 // Almost a dozen years ago, then-New York Attorney General Eliot Spitzer filed a fraud lawsuit against former American Insurance Group Inc. CEO Maurice “Hank” Greenberg over two reinsurance transactions that...
Greenberg, New York AG Settle Long-Running Reinsurance Dispute
Feb 12 2017 // Ex- American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make the insurer’s financial condition look better than it was as part of a...
CNA Hardy Appoints AIG’s Beelders as Head of Multinational
Feb 2 2017 // CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, announced the appointment of Jason Beelders as assistant vice president, head of Multinational. Reporting to Patrick Gage,...
S&P Ratings Reacts to AIG’s Pending Q4 Reserve Charge
Jan 31 2017 // American International Group’s anticipated reserve charge has attracted the attention of Standard & Poor’s, which has downgraded certain ratings in light of the disclosure. S&P said it lowered...
AIG, Fitch Put AIG Under Review Citing Reinsurance Deal, Reserve Adjustment
Jan 27 2017 // American International Group won’t be reporting its Q4 2016 financials until Feb. 14, but a disclosure about a “material adverse reserve adjustment” from the insurer for its U.S. commercial business drew...
NAIC Leader Says Insurer Systemic Risk Process Is Unnecessary
Jan 26 2017 // Although the Financial Stability Oversight Council created by the Dodd–Frank Wall Street Reform Act could serve an incredibly useful purpose, FSOC’s activities so far have been misguided, an insurance regulator...
AIG Reinsurance Deal May Spell Short-Term Loss, Long-Term Gain for Berkshire
Jan 25 2017 // Berkshire Hathaway Inc.’s record risk-transfer agreement with American International Group Inc. is so big that Warren Buffett’s company risks posting its first annual underwriting loss since 2002 at its...
Beazley Taps AIG’s Tigleanu as Data Breach & Information Security U/W
Jan 24 2017 // Beazley, a specialist in data breach response insurance, has appointed Monica Tigleanu as an underwriter focused on data breach and information security coverage for US companies out of its London headquarters. Beazley has...
Business Moves
Jan 23 2017 // AIG, Arch Capital American International Group (AIG) has completed the $3.4 billion sale of its mortgage guaranty unit to Arch Capital Group. The deal to sell United Guaranty Corp. closed on December 31. AIG has been...
AIG Signs Major Reinsurance Deal with Berkshire’s National Indemnity
Jan 20 2017 // American International Group Inc. announced that it has entered into a reinsurance agreement covering many of the long-term risks on previously-written commercial insurance policies. The agreement, with National Indemnity...
How to Gain ‘Digital Trust’ of Employees in Age of Internet of Things
Jan 5 2017 // Employers will need to accept tradeoffs to foster “digital trust” with employees if they want to gather the workplace data necessary to realize the full benefits of the Internet of Things (IoT) and the sharing...
AIG Completes Sale of Mortgage Unit to Arch Capital for $3.4 Billion
Jan 4 2017 // American International Group said it has completed the $3.4 billion sale of its mortgage guaranty unit to Arch Capital Group. The deal to sell United Guaranty Corp. (UGC), first announced in August 2016, closed on Dec....
