Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
New York Fed Taps 5 Banks to Bid for AIG Bonds: WSJ
Feb 7 2012 // The Federal Reserve Bank of New York has invited five banks to bid for mortgage bonds of insurer American International Group, the Wall Street Journal reported. The five banks selected are the U.S. securities units of...
Fed Sells $7B of Mortgage Securities From AIG Bailout
Feb 6 2012 // The Federal Reserve Bank of New York recently sold $7.01 billion worth of mortgage-backed securities it had assumed from AIG, as the U.S. government continues to recoup its money from its bailout of the insurer. The...
People
Feb 6 2012 // Marsh & McLennan Companies has appointed AIG executive Julio Portalatin as CEO of Mercer, MMC’s human resource consulting unit. Portalatin succeeds M. Michele Burns who left the firm last October. Portalatin...
Fed Sells $7B of Mortgage Securities From AIG Bailout
Feb 6 2012 // The Federal Reserve Bank of New York recently sold $7.01 billion worth of mortgage-backed securities it had assumed from AIG, as the U.S. government continues to recoup its money from its bailout of the insurer. The...
Business Moves
Feb 6 2012 // IMAC, Specialty Service Solutions Randolph, Mass.-based International Marketing and Administration Co. (IMAC) purchased Specialty Service Solutions LLC, an insurance brokerage headquartered in Chicago. Specialty Service...
Business Moves
Feb 6 2012 // The Navigators Group Rye Brook, N.Y.-based specialty insurer The Navigators Group said its principal underwriting agency subsidiary, Navigators Management Company, expanded its Navigators Re division by launching a...
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Best Revises AIG and Subs Outlook to Stable; Affirms Ratings
Jan 27 2012 // A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb” of American International Group. It has also revised the outlook to stable from negative and...
AIG Thinking about Buying Back More of AIA
Jan 26 2012 // American International Group Chairman Steve Miller said on Thursday the bailed-out insurance company may eventually want to buy a life insurer outside the United States, including possibly a larger stake in the spun-off...
AIG to Merge Group Benefits Units From Chartis and American General
Jan 24 2012 // Two American International Group units — Chartis U.S. Accident and Health, and American General Life Companies — are planning to merge their group benefits businesses into a single, unified organization. The...
Starr Companies Hires AIG Exec to Lead Defense Base Act Coverages
Jan 20 2012 // Starr Companies has appointed Shane McCaffrey as profit center manager in charge of Defense Base Act and foreign casualty insurance for U.S.-based multinationals. Starr Companies said Defense Base Act and foreign casualty...
Marsh & McLennan Appoints AIG Exec Portalatin as CEO of Mercer Unit
Jan 18 2012 // Marsh & McLennan Companies appointed insurance veteran Julio Portalatin as CEO of Mercer, MMC’s human resource consulting subsidiary. Julio Portalatin His appointment is effective February 1. He will be based in...
Court OKs AIG’s $450M Settlement Over Underreported Workers’ Comp Premiums
Dec 28 2011 // A federal judge has approved American International Group Inc.’s $450 million settlement with rival insurers to end litigation accusing AIG of underreporting premiums on workers’ compensation policies. AIG will...
AIG CEO Benmosche Wants to Extend His Stay: Report
Dec 27 2011 // American International Group’s CEO Robert Benmosche recently told the board directors that he wants to stay in his job longer than previously planned, according to a report. The Wall Street Journal reported last...
Starr International Files $25B Lawsuit Against U.S., Calling AIG Takeover ‘Unconstitutional’
Dec 5 2011 // A company run by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer...
AIG Unlikely to Take Q4 Reserve Charges: Barclays
Nov 23 2011 // Bailed-out insurer American International Group is unlikely to add to reserves in the current quarter, though investors may not be convinced the reserves are adequate, Barclays Capital said Tuesday. Barclays analyst Jay...
Starr International Files $25B Suit Against U.S. Over AIG Takeover
Nov 21 2011 // A company run by former American International Group Inc Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer unconstitutional. The...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 21 2011 // American International Group said recently its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have offered similar observations in the latest earnings season. “In...
AIG Continues Paying Back TARP Money
Nov 21 2011 // In other AIG News, the company made an additional $972 million repayment to the U.S. Treasury Department in early November. AIG said the money paid is the sixth major payment to the government in 2011, bringing the total...
AIG Says Commercial Line Rate Hike Is Accelerating
Nov 4 2011 // American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers have been offering similar observations in this earnings season. “In U.S....
