Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses
Nov 4 2011 // AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a...
AIG Reports Q3 Net Loss of $4.1 Billion
Nov 3 2011 // American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third quarter ended Sept. 30, 2011, compared with a net loss of $2.5 billion and an...
GAO Report Raises Questions About New York Fed in 2008 AIG Bailout
Nov 2 2011 // A new report from the U.S. Government Accounting Office chronicles the government’s handling of AIG bailout in 2008. In all, the government had invested and made loans worth more than $182 billion for the...
Treasury Receives $972M TARP Repayment from AIG
Nov 2 2011 // The U.S. Treasury Department said it received an additional repayment of $972 million from American International Group (AIG). The payment came mostly from the scheduled release of the escrow from AIG’s sale of its...
AIG Fraud Suit Against Bank of America Won’t Be Moved to State Court
Oct 21 2011 // A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case...
Chartis to Trim Workforce; AIG Settlement Approved
Oct 17 2011 // American International Group said its property/casualty carrier Chartis will eliminate some jobs, with the reduction affecting less than 1 percent of its workforce, or roughly 400 or fewer positions. “As part of...
Ex-AIG Unit AIA Group’s Growth Jumps in Q3 as Insurance Demand Rises
Oct 14 2011 // AIA Group Ltd, Asia’s No.3 insurer, said growth accelerated in the third quarter, with its value of new business rising 53 percent as strong performance in markets such as Malaysia helped boost earnings. The...
AIG’s $725M Settlement with Pension Funds Gains Preliminary Approval
Oct 7 2011 // New York federal court gave a preliminary approval to American International Group’s $725 settlement deal with Ohio public pension funds. It’s another forward step in AIG’s effort to resolve ongoing legal...
Chartis to Trim Workforce
Oct 5 2011 // American International Group said its property/casualty carrier Chartis will eliminate some jobs, with the reduction affecting less than 1 percent of its workforce, or roughly 400 or fewer positions. “As part of...
Chartis CEO Says Europe Still Safe; Insurer Seeks ‘Value Over Volume’
Oct 3 2011 // AIG’s global property and casualty insurer Chartis continues to see opportunities in Europe despite the sovereign debt crisis, the chief executive of the unit said in an interview last Friday. Peter Hancock also said...
Surplus Lines Industry Losing Its Edge?
Oct 3 2011 // The surplus lines industry continues to outperform the overall property/casualty industry but its advantage is not what it used to be. According to the annual A.M. Best special report, the surplus lines industry generated...
People
Oct 3 2011 // Swett & Crawford has opened a satellite office in Redondo Beach, Calif. The office will be led by Brian Vassallo, who is joining the firm as a vice president. Vassallo, who has a decade of experience in wholesale...
AIG Appoints Former IRS Attorney as Deputy Tax Director
Sep 22 2011 // American International Group Inc. (AIG) has hired Clarissa Potter, former deputy chief counsel at U.S. Internal Revenue Service and former law professor, as deputy tax director. In this role, Potter will be responsible for...
‘Hank’ Greenberg to Host Fundraiser for Republican Candidate Perry
Sep 20 2011 // C. V. Starr & Co. Inc. Chairman and CEO Maurice “Hank” Greenberg is scheduled to host a fundraising event in New York on Tuesday, Sept. 20, for Texas Gov. Rick Perry. Perry is one of the leading Republican...
Cantlay to Join AIG-Backed Lloyd’s Syndicate, Ascot, as Executive Director
Sep 12 2011 // Ex-Aon Benfield Chairman Charlie Cantlay is to join the Board of Directors of AIG’s Lloyd’s Syndicate, Ascot Underwriting, as Executive Director starting 3rd October. Ascot manages Lloyd’s Syndicate...
AIG’s Plane Leasing Unit ILFC Files for Initial Public Offering
Sep 6 2011 // AIG’s aircraft leasing unit, International Lease Finance Corp., filed for an initial public offering Friday despite deep uncertainty in equity markets that could delay an offering until next year. ILFC Holdings Inc.,...
Business Moves
Sep 5 2011 // Vertafore, Kaplan Compliance Insurance agency technology vendor Vertafore said that its subsidiary Sircon will acquire Indianapolis, Indiana-based Kaplan Compliance Solutions (KCS), which sells insurance and securities...
Florida ‘Fraud Dog’ Bringing Insurance Cases to TV
Sep 5 2011 // Insurance fraud is so big it could be getting its own reality television show. The show, called the “Fraud Dog,” is in pilot production, and will star Linda Webb, a former AIG insurance claim executive and...
Business Moves
Sep 5 2011 // Northbridge, Scanlon Guerra Burke Two independent insurance brokers are joining forces to become one of the largest insurance brokerages in Los Angeles and Ventura counties. The agreement combines Northridge Insurance...
AIG Suit Against Bank of America Raises Disclosure Issues
Aug 31 2011 // Top Bank of America Corp. lawyers knew as early as January that American International Group Inc. was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources...
