Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Judge Refuses to Dismiss Securities Fraud Lawsuit Against AIG
Oct 4 2010 // A judge has refused to dismiss a securities fraud lawsuit accusing American International Group Inc. of misleading investors about its exposure to subprime mortgages, which led to a liquidity crisis and $182.3 billion of...
Declarations
Oct 4 2010 // Get Rid of the Trailers “People are frustrated. People do not like the idea of having these trailers right next to them five years after Katrina.” —Councilman Jon Johnson, whose district includes hard-hit...
Declarations
Oct 4 2010 // A Continuing Objective “Our objective remains the same at AIG, which is to repay taxpayers and position AIG over time as a strong, independent company worthy of investor confidence.” —An anonymous source from...
Homeowners’ Madoff Claims Not Covered Under AIG Policy: Judge
Oct 1 2010 // American International Group Inc. need not make payments to some former Bernard Madoff clients who said their homeowner insurance policies entitled them to coverage for alleged losses, a judge ruled. Two California...
White House Slashes Bailout Cost Estimate After AIG Exit Deal
Oct 1 2010 // The U.S. financial bailout will cost less than $50 billion, the Obama administration said Thursday, slashing a prior estimate by more than half on the back of a new plan to sell the government’s stake in insurer...
AIG to Sell Japan Life Units to Prudential (U.S.) for $4.8 Billion
Sep 30 2010 // American International Group said Thursday it will sell its two Japanese life insurance units to Prudential Financial Inc for $4.8 billion, marking another step in its efforts to repay U.S. taxpayers. The sale of AIG Star...
Benmosche Shares How AIG Plans to Reimburse Taxpayers
Sep 30 2010 // American International Group Inc. and the U.S. government laid out a plan for the insurer to repay its $182.3 billion taxpayer bailout, just over two years after it was rescued from the brink of collapse. The deal, reached...
AIG Announces Plan to Pay Back Taxpayers
Sep 30 2010 // American International Group Inc. (AIG) said it has come to an agreement with the Obama Administration on a plan to repay American taxpayers who bailed out the insurer in 2008. AIG said it will use proceeds from the sale...
U.S., AIG Exit Plan Faster, Riskier, Perhaps Profitable for Taxpayers
Sep 30 2010 // American International Group Inc. laid out a plan Thursday that sets the insurer on an accelerated path for payback of bailout money, but it also increases the risk for the U.S. government. The plan, which comes a little...
U.S. Expects Plan to End Government Ties to AIG By Next Week: Report
Sep 29 2010 // The Obama administration hopes to announce by next week a plan to end its support of insurance giant American International Group Inc., the New York Times reported Tuesday, quoting unnamed sources. That announcement would...
AIG Board to Meet Today to Weigh U.S. Exit Plan
Sep 29 2010 // American International Group Inc.’s board will meet later Wednesday to discuss a plan that would allow the U.S. Treasury to exit its investment in the bailed-out insurer, AIG Chairman Steve Miller said. Miller said...
Judge Refuses to Dismiss Securities Fraud Lawsuit Against AIG
Sep 27 2010 // A judge refused to dismiss a securities fraud lawsuit accusing American International Group Inc. of misleading investors about its exposure to subprime mortgages, which led to a liquidity crisis and $182.3 billion of...
AIA Begins Premarketing for IPO; More Details Released
Sep 27 2010 // American International Group Inc will be required to hold a 30 percent stake in its Asian life insurance business, AIA Group Ltd, for a year after AIA’s listing next month, the term sheet showed on...
AIG, Government Move Closer to Deal on Bailout Exit
Sep 27 2010 // American International Group Inc. and the U.S. government are moving closer to a deal on how the Treasury Department would exit its investment in the bailed-out insurer, sources familiar with the situation said on...
Bank of Montreal Eyes U.S., China Acquisitions for Insurance Group
Sep 23 2010 // Bank of Montreal is on the hunt for acquisitions in the United States and China to expand its wealth management operations, while it sees growth in Canada coming from established operations, one of BMO’s top...
Bank Bailout Fraud On the Rise, Probes Continuing, Says TARP Cop
Sep 22 2010 // The top U.S. bailout cop said evidence of fraud among banks that sought taxpayer funds was on the rise, and some of his investigations involve amounts exceeding $550 million. Neil Barofsky, the special inspector general...
Sources Report AIG Secures Approval to List AIA on Hong Kong Exchange
Sep 21 2010 // American International Group Inc inched closer in its ambitious plan to list its Asian life insurance business, AIA Group Ltd, after securing approval from the Hong Kong stock exchange, sources with direct knowledge of the...
Buyers Give up on Deal to Buy AIG’s Taiwan Life Unit
Sep 21 2010 // Intended buyers of insurer American International Group’s Taiwan unit have ended their purchase agreement after Taiwan’s regulators opposed the deal [See IJ web site – ....
People
Sep 20 2010 // Former AIG Chief Executive Officer Martin Sullivan, who was ousted three months before the U.S. government bailed the insurer out, is joining Willis Group Holdings PLC. Sullivan will head a new unit – Willis Global...
AIG, U.S. Repayment Talks Advancing, Sources Say
Sep 15 2010 // American International Group Inc.’s talks with the U.S. Treasury Department over repayment of bailout funds have advanced past initial discussions, a source familiar with the matter said. A possible conversion of the...
