Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Geithner Testifies He Was Responsible for AIG Loan Rate
Oct 8 2014 // Timothy Geithner backed away from two of his more provocative assessments of the 2008 bailout of American International Group Inc., in a day of courtroom testimony marked by careful answers and a lack of recollection about...
Ex-Treasurer Paulson Defends AIG’s Harsh Loan Terms
Oct 6 2014 // American International Group Inc. received harsher terms than other financial institutions in the 2008 financial crisis because regulators needed to send a message to markets that government help would cost them, Henry...
Geithner Expected to Testify on AIG Bailout Rate
Oct 5 2014 // Federal regulators cut a “loan sharky” interest rate on an $85 billion bailout loan to American International Group Inc. because it contributed to a debt service problem that threatened the insurer’s...
AIG Bailout Rushed Without Complete Documentation, Fed Lawyer Testifies
Oct 2 2014 // The Federal Reserve Bank of New York poured billions of dollars into rescuing American International Group Inc. in September 2008 without drawing up documents that would cement the government’s control of the giant...
Fed Counsel Grilled on AIG’s Bailout Terms vs. Banks’
Oct 1 2014 // The Federal Reserve Board of Governors set an interest rate for American International Group Inc.’s 2008 bailout loan that was meant to prevent shareholders from reaping a “windfall,” the Fed’s top...
Goldman, JPMorgan CEOs Pursued Private Rescue for AIG
Oct 1 2014 // The heads of Goldman Sachs Group Inc. and JPMorgan Chase & Co. told federal regulators days ahead of the 2008 government bailout of American International Group Inc. that they were putting together a private rescue of...
Federal Reserve Was Reluctant to Rescue AIG, Urged Private Sector Loan: Trial
Sep 30 2014 // The Federal Reserve Board of Governors didn’t want to bail out American International Group Inc. with an $85 billion loan, preferring that the insurer find a savior in the private marketplace, the Fed’s top...
Greenberg’s Lawyer Says U.S. Demonized, Extorted AIG Shareholders in Bailout
Sep 29 2014 // The U.S. extorted American International Group Inc. shareholders when it extended a $182 billion taxpayer bailout at the height of the 2008 financial crisis, a lawyer for Maurice “Hank” Greenberg...
Trial Over Greenberg’s Challenge to AIG Bailout to Get Underway
Sep 29 2014 // One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government’s rescue of American International Group Inc was, in...
Execs Hired by Berkshire Specialty Balked at AIG Philosophy: Benmosche
Sep 24 2014 // Robert Benmosche, who led American International Group Inc. for half a decade, said an emerging challenge from Warren Buffett’s Berkshire Hathaway Inc. hasn’t amounted to much so far. Buffett’s firm...
Berkshire Hathaway Specialty Enters Fidelity & Crime Market; Names AIG’s O’Neill
Sep 23 2014 // Berkshire Hathaway Specialty Insurance (BHSI) said it is entering the fidelity and crime insurance market, and has named Brian O’Neill to lead the effort. O’Neill joins BHSI with 30 years of fidelity and crime...
Greenberg’s Starr Sues U.S. Over Tax Dispute
Sep 21 2014 // Maurice “Hank” Greenberg’s Starr International Co. seeks a refund for overpayment of taxes for 2007 in a $38 million lawsuit against the U.S. The Internal Revenue Service has taken no action on...
New CEO Hancock Puts Stamp on AIG Management in Shake-Up
Sep 19 2014 // American International Group Inc. named Kevin Hogan to lead its main life insurance business, putting him in charge of offerings for individuals, as new Chief Executive Officer Peter Hancock shakes up management. Hogan...
Global Excess Partners Hires Carmody From AIG in New York
Sep 17 2014 // Global Excess Partners, a managing general agent, has hired Liz Carmody as senior vice president. She is based in New York City. Carmody will assist in managing the firm’s large property and mid-market accounts. In...
AIG’s Regional Casualty Exec Thomas Joins Victor O. Schinnerer in Maryland
Sep 17 2014 // Underwriting manager Victor O. Schinnerer & Company Inc. in Chevy Chase, Maryland, has hired Scott P. Thomas as senior vice president and senior underwriting manager leading the firm’s property/casualty segment...
AIG Names Fasano to New Chief Information Officer Post
Sep 15 2014 // American International Group Inc. has named Philip Fasano to the newly-created role of executive vice president and chief information officer. Fasano will be responsible for oversight of the company’s global...
AIG’s Expanded Operations Will Create 300 Jobs in Kansas
Sep 9 2014 // American International Group Inc. held a grand opening Tuesday to celebrate its expansion in Olathe, Kan., which will bring 300 new jobs to the state by the end of 2015. Gov. Sam Brownback and AIG President and CEI Peter...
State of the Market: Surplus Lines Bounces Back
Sep 8 2014 // The surplus lines industry showed its subpar showing in 2012 was uncharacteristic as it outperformed the overall property/casualty industry once again in 2013. While 2013 was a good year all-round for the P/C industry, it...
Two Plead Guilty in Iowa to Defrauding AIG, Face Decades in Prison
Sep 4 2014 // Former Iowa resident Christina M. Pender and California resident Robert K. Taylor have pled guilty to defrauding insurance company AIG out of hundreds of thousands of dollars, the U.S. Attorney’s Office for the...
Hancock Takes Over at AIG After Benmosche’s ‘Great Leadership’: Miller
Sep 2 2014 // The leadership transition at insurer American International Group Inc. is like switching generals after winning a war, Chairman Steve Miller said. “We’re changing generals as we move from wartime to...
