Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Ex-CEO Willumstad: AIG Bailout Was Only Rescue Option
Nov 6 2014 // American International Group Inc.’s bailout by the U.S. in 2008 was seen by the company’s board as its only rescue option at the time, former Chief Executive Officer Robert Willumstad testified. Robert...
AIG Q3 Net Income Rises 1% to $2.19B, More Share Buybacks Planned
Nov 4 2014 // Insurer American International Group on Monday reported better-than-expected third quarter earnings, bolstered in part by improved performance at core insurance operations. After-tax operating income jumped 23 percent from...
Greenberg Upset Win in AIG $25 Billion Bailout Trial Possible
Nov 3 2014 // Lawyer David Boies has a shot at an upset win in the trial of Maurice “Hank” Greenberg’s $25 billion bailout case against the U.S. government, a turnaround from the weak odds he was given just a month...
AIG Pays $35M Penalty to Resolve Probe of Units Sold to MetLife
Nov 2 2014 // American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units. The subsidiaries, American Life Insurance Co. and Delaware American...
AIG : No Dealings with Syrian Claims Adjuster
Nov 2 2014 // American International Group Inc. is stripping a claims adjuster in Syria from a list given to shipping-industry clients after a U.S. regulator questioned a rival about relationships in blacklisted nations. “The...
AIG Offers Loss Control for Corporate Aerospace Customers
Oct 30 2014 // American International Group Inc. (AIG) has partnered with Wyvern Consulting, an aviation risk management and safety auditing firm, to launch AirGuard safety and loss control services designed to address safety and...
Ex-CEO Benmosche Writing Book on Turnaround at AIG
Oct 28 2014 // Robert Benmosche is working on a book about turning around American International Group Inc. Benmosche’s memoir focuses on the five years he led AIG and is slated to be published in late 2015 or early 2016 by St....
Government Prepares Defense in AIG Bailout Trial
Oct 27 2014 // David Boies spent much of the past month interrogating the architects of the 2008 Wall Street bailout, making the case that the U.S. cheated American International Group Inc. shareholders of at least $25 billion partly for...
AIG Ex-CEO Liddy Defends Closeness with Government During Bailout
Oct 19 2014 // Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win concessions on...
AIG Ex-CEO Liddy Testifies on Role in Bailout
Oct 17 2014 // Former American International Group Inc. Chief Executive Officer Edward Liddy testified he chose not to buck government overseers who selected him to run the bailed- out insurer. Developing trust with regulators was for...
AIG Bailout Trial Probes Role of Ex-CEO Liddy
Oct 16 2014 // Former American International Group Inc. Chief Executive Officer Edward Liddy will face a key question on the witness stand in a trial over claims shareholders were cheated of at least $25 billion in the insurer’s...
AIG’s Barone Joins Beazley’s Fidelity and Crime Insurance Unit
Oct 15 2014 // Beazley Plc hired Matt Barone from American International Group Inc., becoming the second insurer in a month to recruit from AIG to build groups that sell coverage protecting corporate clients against crimes. Barone joins...
AIG Bailout Trial Shifts to Former AIG Executives, Other Regulators
Oct 14 2014 // The trial over the American International Group Inc. bailout shifts this week from the architects of the 2008 rescue, who spent days testifying as to why they imposed the terms they did on the ailing insurer, to the...
Bernanke Denies Bailout Terms Were Meant to Punish AIG
Oct 12 2014 // Former Federal Reserve Chairman Ben Bernanke said he wasn’t looking to punish American International Group Inc. for mismanagement when the board of governors authorized an emergency loan to the distressed insurer at...
P/C Insurers Rush to Meet Rising Demand for Cyber Insurance
Oct 9 2014 // Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this...
Bernanke Defends AIG Bailout Terms; Judge Opens Fed’s ‘Doomsday Book’
Oct 9 2014 // Former Federal Reserve Chairman Ben Bernanke defended the sterner treatment of American International Group Inc. in the 2008 bailout compared with how investment banks were handled, saying the rescue of the insurer had a...
AIG Boosts Railroad Excess Liability Coverage to $1 Billion
Oct 9 2014 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, introduced a policy to help railroads handle losses from catastrophic accidents as more crude oil is shipped by trains. The insurer...
Unfamiliar Fed Saw ‘Exceptional’ Risks in AIG Situation, Says Geithner
Oct 9 2014 // American International Group Inc.’s unique set of risks was seen by one of the primary orchestrators of its rescue as requiring tough conditions that included the government’s taking most of the insurer’s...
Was AIG’s High Bailout Loan Rate Forced by Regulators?
Oct 8 2014 // A “crazily high” interest rate levied on American International Group Inc.’s $85 billion bailout loan may have been forced on the Federal Reserve Bank of New York by other regulators, according to...
Geithner Asked Buffett for Opinion on AIG Before 2008 Bailout
Oct 8 2014 // Billionaire Warren Buffett said he gave an appraisal of American International Group Inc. to Timothy Geithner, then the head of the Federal Reserve Bank of New York, just before it rescued AIG in 2008. Geithner asked...
