Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIC Holdings Appoints Purdy President, CEO of Underwriters
Aug 25 2011 // AIC Holdings appointed Robert G. Purdy to president and CEO of AIC Underwriters, based in Philadelphia, PA. Purdy will be responsible for leading the underwriting, marketing and operations strategies for the AIC...
AIG Pays Back Another $2B on U.S. Treasury Debt
Aug 19 2011 // American International Group Inc. reported that it has reduced the remaining liquidation preference of preferred interests that the U.S. Department of the Treasury holds in AIA Aurora LLC to approximately $9.3 billion by...
AIG, Banks File Motion to Block Class Action Suit
Aug 18 2011 // Bailed-out insurer American International Group and dozens of banks have filed motions in federal court to block a proposed nationwide class-action suit against them over AIG’s 2008 near-collapse. Their argument is...
AIG Executive Schreiber Assumes Treasurer Role
Aug 16 2011 // American International Group Inc. (AIG) reported that Brian T. Schreiber, executive vice president, Treasury and Capital Markets, has been named to the additional role of AIG treasurer. Schreiber is succeeding Robert A....
Insurer Offers Bail Out to U.S. Government
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
AIG Sues BofA for $10 Billion, Alleges ‘Massive Mortgage Fraud’
Aug 8 2011 // Insurer American International Group (AIG) is suing Bank of America Corp. to recover more than $10 billion of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the...
AIG Plans to Keep Mortgage Insurance Unit
Aug 5 2011 // Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry struggles with rising claims, AIG’s chief executive said Friday. Mortgage insurers...
AIG Posts Q2 Profit on AIA Stake
Aug 5 2011 // Bailed-out insurer American International Group reported a profit for the second quarter Thursday, as tax benefits and its one-third stake in Asian insurer AIA offset a decline in operating income at its main...
General Re, AIG Executives’ Convictions Tossed; New Trial Ordered
Aug 2 2011 // Four former executives at Berkshire Hathaway Inc.’s General Re Corp. unit and one at American International Group Inc. won the reversal of their convictions over a reinsurance transaction that prosecutors said...
SEC Seeks More Disclosure by AIG on Credit Ratings
Aug 1 2011 // The U.S. Securities and Exchange Commission has asked insurer American International Group (AIG) to provide more disclosure about how and why it assigns credit ratings to investments in its portfolio, according to letters...
P/C Insurers Still Saddled with Asbestos Reserve Challenges
Jul 28 2011 // Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise questions about the industry’s ability to put the scourge behind it. While medical...
Commission Allows Group to Buy AIG Taiwan Unit
Jul 15 2011 // Taiwan’s Financial Supervisory Commission says a local conglomerate has met conditions the commission stipulated in June to purchase AIG’s Taiwanese insurance unit, paving the way for final approval. The...
U.S. Industry Reserve Redundancy at $22 Billion: Aon Benfield
Jun 16 2011 // The overall U.S. insurance industry reserve redundancy is $22.0 billion versus $21.9 billion at year-end 2009, after the industry released $10.5 billion of reserves during 2010, a new study of year-end 2010 data shows. The...
Taiwan Conditionally Approves AIG’s Nan Shan Life Sale
Jun 9 2011 // Taiwan’s financial regulator gave conditional approval on Thursday to AIG’s $2.2 billion sale of its Nan Shan Life insurance unit, bringing closer to an end an almost two year long sale saga. The U.S. insurer,...
AIG Stock Dips After $8.7 Billion Share Sale by U.S. Treasury
May 25 2011 // of American International Group Inc. fell 3.6 percent Wednesday after the insurer and the U.S. Treasury sold $8.7 billion worth of AIG stock. The Treasury sold 200 million shares, reducing its stake in the company to 77...
Treasury Sells AIG Shares at Slight Profit
May 25 2011 // The U.S. Treasury is barely breaking even on its investment in beleaguered insurance giant American International Group Inc., according to an early litmus test of market interest in the firm’s stock. The Treasury...
AIG, U.S. Treasury to Sell Nearly $9 Billion in Stock
May 11 2011 // American International Group and the U.S. Treasury said Wednesday they will sell just under $9 billion in AIG stock, suggesting the government’s exit from its crisis-era investment will be more difficult than...
AIG Shares Fall Further, Put Pressure on Treasury
May 10 2011 // Later this month investors will get a chance to buy into the revived American International Group, but dreams of a blockbuster sale have faded with the steady decline in AIG’s shares. The stakes are high for the U.S....
AIG Shares Hit Lowest Level in Months
May 9 2011 // Shares in bailed-out insurer American International Group fell to their lowest levels in nearly eight months Monday, potentially moving them into loss-making territory for the U.S. Treasury. The Treasury holds 92.11...
AIG Reports $1.5B Net Income Loss in Q1
May 6 2011 // American International Group posted a loss from continuing operations in the first quarter as it recorded a charge of more than $3 billion related to its recapitalization and termination of its credit facility from the...
