Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG’s Ex-CEO Greenberg to Testify on General Re Transaction This Week
Mar 8 2010 // Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., will testify Wednesday over a sham transaction involving the insurer and a unit of Warren Buffett’s Berkshire...
AIG to Get $231 Million If Sale of Asian Unit to Pru Fails
Mar 8 2010 // American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through. In a filing with the Securities and...
Ohio AG: Ruling Clears Way for State to Take AIG to Trial
Mar 7 2010 // Ohio Attorney General Richard Cordray says he is encouraged by a recent federal court ruling granting class certification in a securities litigation against American International Group Inc. (AIG). The Feb. 22 ruling in...
Singapore GIC, Qatar to Underwrite Part of Prudential’s Rights Offer
Mar 5 2010 // Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5...
Ping An Sees No Impact on China Insurance from Prudential/AIG Deal
Mar 5 2010 // Ping An Insurance, China’s No. 2 insurer, said on Friday it was not concerned about a plan by Britain’s Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in...
AIG Still Working Out $15 Billion Sale of Alico to MetLife
Mar 5 2010 // A tax question holding up American International Group Inc.’s sale of its foreign life insurance unit to MetLife Inc. is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources...
AIG Home Loan Units Deny But Settle Bias Complaints
Mar 5 2010 // Two AIG units settled federal charges that they discriminated against blacks in providing home loans and will pay at least $7.1 million for restitution and education efforts, according to court documents filed...
AIG to Sell its 13.8% Stake in Transatlantic Holdings
Mar 5 2010 // American International Group said it would sell its 13.8 percent stake in reinsurer Transatlantic Holdings Inc, worth about $500 million at Thursday’s closing stock price. AIG, nearly 80 percent owned by the U.S....
Prudential and AIG Execs Selling AIA Deal to Asia Staff
Mar 4 2010 // The chief executives of Britain’s Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry’s record...
Best Makes No Ratings Changes on AIG Due to Sale of AIA
Mar 4 2010 // A.M. Best Co. has commented that the ratings of American International Group, Inc. and its subsidiaries are “unchanged following the announcement that AIG will sell the AIA Group, Limited to Prudential plc in a deal...
U.S. May Follow Citigroup Exit Strategy for AIG
Mar 2 2010 // As American International Group Inc. prepares to shed two big units, it looks set to follow the same path as Citigroup Inc. out from under the U.S. government’s wing. The government is likely to follow an exit...
Ratings Recap: AIA/AIAB, SOVAG, Coface, PhilNaRe, Generali Rueck
Mar 2 2010 // Standard & Poor’s Ratings Services has placed its ‘A+’ counterparty credit and financial strength ratings on American International Assurance Co. Ltd. (AIA) and American International Assurance Co....
Pru-AIG’s AIA Life Marriage Makes Strategic Sense But Carries Risks
Mar 1 2010 // Prudential Plc’s $35.5 billion offer for American International Group Inc.’s Asia business marries the UK insurer’s fast-growth strategy with AIA’s mature business profile — a logical,...
AIG to Sell ‘Crown Jewel’ Asian Life Unit to UK’s Prudential for $35.5 Billion
Feb 28 2010 // American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout...
AIG To Pay $8 Million to Settle Lawsuit Over Oregon Pension Fund Losses
Feb 26 2010 // The Oregon Public Employee Retirement Fund will recover losses that were attributable to a pattern of poor disclosure and bid-rigging by insurance giant American International Group Inc. (AIG), under a settlement announced...
AIG Reduces Q4 Loss; Reports Some Stabilization While Challenges Remain
Feb 26 2010 // American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the...
Pay Czar Struggles to Rework Bonuses at AIG, Other Bailed-Out Firms
Feb 25 2010 // The Obama administration’s pay czar said his attempts to renegotiate valid pay contracts at bailed-out companies, particularly insurer AIG, has been a “unique challenge,” according to testimony released...
Ohio AG: Ruling Clears Way for State to Take AIG to Trial
Feb 24 2010 // Ohio Attorney General Richard Cordray announced he is encouraged by a recent federal court ruling granting class certification in the securities litigation against American International Group Inc. (AIG). The ruling in the...
Judge Certifies Stockholders’ Class Action Against AIG
Feb 23 2010 // A U.S. judge on Monday certified a class action lawsuit for stockholders, but not bondholders, against American International Group Inc. U.S. District Judge Deborah Batts denied a request by three Ohio state public pension...
Despite Outrage at AIG Bonuses, Private Sector Still Rewards Failure
Feb 23 2010 // To many Americans, it’s a matter of common sense: traders who failed so spectacularly at their jobs that they nearly brought down the global economy should be fired, not rewarded with handsome bonuses. Yet AIG, the...
