Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Business Moves
Jun 1 2009 // AIG American International Group agreed to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash to Nippon Life Insurance Co. The property consists of one acre of land on which The AIG Otemachi...
Max Cap, Validus, IPC Skirmishes; AIG IPO; Pirates Continue Attacks
Jun 1 2009 // As the June 12 shareholders meeting approaches, the three-way tussle between Bermuda-based Validus Holdings and the Max Capital Group over the acquisition of IPC Re shows no signs of letting up. In the latest round Validus...
Fireman’s Fund: Focusing on Agents
Jun 1 2009 // CEO LaRocco, Exec Barnard Outline Insurer’s Renewed Strategy to Re-Engage Agents and Deliver Greater Value Weathering today’s economic storm has not been easy for insurance companies. Consumers are more...
AIG Completes Tokyo Building Sale
May 29 2009 // American International Group announced that it has completed the sale of its prime real estate holding in the Otemachi District in Tokyo to Nippon Life Insurance Company. AIG said that “under the terms of the...
New Director Leads AIG CEO Search
May 29 2009 // A search for a successor to Edward Liddy, chairman and chief executive of AIG, is being led by board member Dennis Dammerman, according to a source familiar with developments. The search, which is expected to take no more...
Ratings Recap: Navigators, AIG (So. Am.), Electro Re, Casiopea Re
May 28 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Navigators Insurance Group, which is comprised of Navigators Insurance Company...
AIG Selling Part of Stake in Reinsurer Transatlantic Via Secondary Offering
May 28 2009 // American International Group Inc. said Thursday it will sell a part of its 59 percent stake in reinsurer Transatlantic Holdings Inc. to the public in a secondary offering, marking its latest divestiture. AIG, which is...
Insurance Broker Sues AIG Over Business Practice
May 27 2009 // A California insurance broker is suing American International Group, accusing the nation’s largest insurance and financial corporation of engaging in unfair business practices. Insurance broker Linda Harris,...
Finding New AIG CEO Won’t Be Easy, Say Consultants
May 26 2009 // Who would apply for a job that requires regular coach flights to Washington to be abused by Congress on international television, to run a company that in many ways symbolizes the financial crisis? And oh by the way, the...
AIG CEO, Chairman Liddy Calls It Quits; Search On for 2 Replacements
May 21 2009 // American International Group, Inc. (AIG) announced today that Chairman and Chief Executive Officer Edward M. Liddy intends to step down once the board finds replacements for him. Liddy has recommended that the chairman and...
S&P Says AIA, AIAB Ratings ‘Not Affected’ by AIG Spinoff Plans
May 20 2009 // Standard & Poor’s Ratings Services said that its ratings on Hong Kong-based American International Assurance Co. Ltd. (AIA; A+/Developing/–) and American International Assurance Co. (Bermuda) Ltd. (AIAB;...
Court Approves $843 Million for AIG Investors Hurt By Alleged Fraud
May 20 2009 // A federal court has approved the distribution of more than $843 million to harmed investors at insurer American International Group, the U.S. Securities and Exchange Commission said Tuesday. The court estimates that checks...
AIG Names 6 Independent Directors
May 20 2009 // American International Group, Inc. (AIG) announced that six new independent director nominees will stand for election at the AIG 2009 annual meeting of shareholders scheduled on June 30. The six new nominees are Harvey...
People
May 18 2009 // Zurich Financial Services Group appointed Francis Bouchard head of the Climate Office. Bouchard will succeed Mike Kerner, who was appointed CEO of Global Corporate in North America. Bouchard will work to institutionalize...
AIG Launches IPO Process for Asian ‘Crown Jewel’
May 18 2009 // American International Group said it would accelerate plans to separate its Asian subsidiary through an initial public offering as the bailed-out U.S. insurer seeks to raise cash and list the unit as soon as possible. The...
People
May 18 2009 // QBE Regional Insurance recently added Charles Valinotti and Mike Bondura to its leadership team headquartered in Sun Prairie, Wis. Valinotti, senior vice president of Personal Lines, oversees personal property and casualty...
Outside the Beltway-Big ‘I’ CEO on Carrier Relations, AIG and Agent Grassroots
May 18 2009 // Bob Rusbuldt, president and CEO of the Independent Insurance Agents & Brokers of America (Big “I”), sat down with Insurance Journal‘s Andrew Simpson at the association’s recent legislative...
AIG Puts Vermont Ski Resort on the Block
May 15 2009 // Bailed-out insurance giant American International Group Inc. says it’s taking offers for Stowe Mountain Resort in Vermont. AIG spokesman Peter Tulupman confirmed that the resort went up for sale Wednesday but gave...
Report: Process for AIG Asian IPO to Start Soon
May 14 2009 // AIG is expected to soon begin the process of launching the initial public offering of its largest Asian subsidiary, according to sources familiar with the matter, in what could be one of the largest Asian IPOs to hit the...
Best Affirms Transatlantic’s ‘A’ Ratings
May 13 2009 // A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Transatlantic Holdings Inc. Group and its members, – Transatlantic Reinsurance...
