Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Ex-CEO Greenberg Urges AIG to Renegotiate $85B Loan or Perish
Oct 14 2008 // Its former chief executive officer, Maurice “Hank” Greenberg, says American International Group (AIG) should renegotiate the terms of the $85 billion loan it has from the federal government or it will end up in...
AIG May Sell Hawaii Unit to Pay Federal Loan
Oct 13 2008 // American International Group Inc. may sell its AIG Hawaii unit to pay off an emergency $85 billion federal loan. The local unit is part of the AIG Personal Auto Group, which the New York-based insurer has listed for...
AIG Has Drawn $70 Billion of Government Loan
Oct 13 2008 // American International Group Inc.’s shares fell 15 percent on Friday amid mounting liquidity concerns after the insurer drew on $9 billion from a government loan in the last week. AIG, crippled by losses on bad...
Lehman Failure Seen as Straw that Broke Credit Market, AIG
Oct 13 2008 // As finance chiefs gathered in Washington D.C. this weekend to work out what went wrong with the world economy, the refusal of the U.S. Treasury to rescue investment bank Lehman Brothers was being blamed as the straw that...
Lehman Debt Auction Gives Clue to Potential Insurance Payouts
Oct 13 2008 // Sellers of insurance on bonds issued by bankrupt Lehman Brothers Holdings Inc. are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts. That’s the...
AIG Crisis Highlights the Need for Insurance Professionalism
Oct 10 2008 // American International Group’s meltdown may serve at least one (if not more) positive purpose: spotlighting the difference between the insurance professional and the non-professional. Insurance professionals will...
GOP Candidate Challenges Sen. Kerry on AIG Bailout
Oct 10 2008 // Democratic Sen. John Kerry’s Republican challenger in Massachusetts called on him to sell any stock he has in insurance giant American International Group and donate all campaign contributions from officials at the...
Greenberg: AIG’s Risky Subprime Activity ‘Exploded’ After He Left
Oct 10 2008 // American International Group’s (AIG) exposure to the subprime mortgage market that precipitated the government’s $85 billion bailout came as a result of business conducted after he left the company, according...
Reflections on the Fate of AIG
Oct 9 2008 // The AIG has been a settled part of the insurance scene for as long as I have been watching it. It was huge, centralized and driven by a singular and dominant personality. It nearly always evoked fear in the minds of...
Former AIG Executives Draw Fire from U.S. Lawmakers
Oct 8 2008 // Lawmakers criticized American International Group Inc. Tuesday for ignoring financial warnings and for executive compensation deals and lavish spending, including a company gathering at an expensive resort just days after...
AIG’s CEO Says ‘Exec Retreat’ Not for Employees
Oct 8 2008 // American International Group Inc. (AIG) chairman and CEO Edward M. Liddy sent a letter today to U.S. Treasury Secretary Henry M. Paulson to clarify the circumstances of a business event held by an AIG subsidiary, discussed...
AIG Domestic Life Units Get $37.8 Billion Cash from Federal Reserve
Oct 8 2008 // The Federal Reserve Board has authorized the Federal Reserve Bank of New York to borrow securities from certain regulated domestic life insurance subsidiaries of the American International Group (AIG). Under this program,...
House Committee to Hold Hearing on AIG Bailout Today
Oct 7 2008 // American International Group executives and several financial regulators are scheduled to testify today at a Capitol Hill hearing on the circumstances leading up to $85 million government loan to AIG. The House Committee...
New York Insurance Chief Says AIG Bailout was Unavoidable
Oct 7 2008 // Washington policymakers had no choice but to rescue American International Group Inc. after a dramatic investor crisis left the giant insurer starved for cash, New York insurance chief Eric Dinallo told lawmakers...
AIG Had Early Warning from Government Regulators on Risk, Says House Chairman
Oct 7 2008 // U.S. regulators sent a letter to American International Group Inc. in March warning of its lack of transparency and ability to oversee its financial products, a top Democratic lawmaker said Tuesday. Rep. Henry Waxman, who...
Best, S&P Keep Most AIG Ratings under Review/Negative
Oct 6 2008 // The emergency loan and the recent announcements that American International Group plans to sell off some of its assets (See related articles) doesn’t seem to have impressed the rating agencies. Both A.M. Best and...
AIG to Sell 3 Japanese Life Insurance Companies
Oct 6 2008 // Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. As part of its effort to pay off a massive U.S. government loan, AIG has decided to unload Alico Japan,...
Some See Spitzer Role in AIG Crisis
Oct 6 2008 // Spitzer forced Greenberg out of the company he built over nearly 40 years. Lost by many in the financial markets’ nightmare were ghosts of Wall Street past. Some are blaming the historic $85 billion federal bailout...
New York to Oversee AIG Sales; Regulate Credit Swaps as Insurance
Oct 6 2008 // New York State Insurance Superintendent Eric Dinallo, who heads a national panel of state regulators overseeing possible sales of assets by American International Group (AIG), has asked an investment advisory firm to...
Lawmaker Calls for AIG Internal Documents
Oct 6 2008 // Rep. Henry Waxman, chairman of the U.S. House Committee on Oversight and Government Reform, has asked the new chief executive officer at American International Group Inc. to give his committee internal documents related to...
