Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Insurers Escape Big Q2 Mortgage Losses – So Far
Aug 5 2008 // The first read on insurance companies’ second-quarter earnings shows they’re taking hits from the same kinds of mortgage-backed investments as other financial firms, but so far, most companies haven’t had...
Wildfires Rekindle Need for Private Fire Protection Efforts
Aug 4 2008 // As wildfires seemingly increase in frequency and severity of insured losses year after year, insurers are devising fire prevention methods to protect their client’s properties — including hiring private...
What AIG’s Fall and New CEO Mean for the Insurance Industry
Jul 23 2008 // The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on how the market should function, has fallen off its pedestal. It not only has fallen,...
AIG Sets Pay, Bonus Target for New CEO Willumstad
Jul 21 2008 // American International Group Inc. said Friday in a regulatory filing that it will pay new Chief Executive Robert Willumstad a base salary of $1 million, and also set lucrative annual bonus and incentive pay targets. AIG...
Wildfires Bring Demand for Private Firefighters
Jul 17 2008 // Seated behind the wheel of a fire engine, Dave Breglia follows a map dotted with expensive homes threatened by wildfires. His job: protect high-end real estate and save an insurance company millions of dollars. “I...
AIG Targets Agribusiness Market
Jul 14 2008 // AIG Landmark, a unit of AIG Commercial Insurance, said it will begin offering multi-line insurance products to the agribusiness industry segment, including grower/packer/shippers, processors, handling and storage...
AIG, Vermont Mutual to Enter Mass. Personal Auto Insurance Market
Jul 14 2008 // Giant insurer American International Group has decided to enter the Massachusetts private passenger auto insurance market, according to The Boston Globe. But AIG is not alone. In addition, Vermont Mutual will begin selling...
AIG, Other Mortgage Insurers’ Stocks Fall on Mortgage Loss Fears
Jul 11 2008 // Shares of American International Group Inc, the world’s largest insurer, fell 8.2 percent Thursday on concerns that a rating cut at its mortgage insurance unit could signal more losses in the...
China Approves Beijing Branch for AIG General Insurance
Jul 8 2008 // American International Group, Inc. reported that its wholly owned subsidiary, AIG General Insurance Company China Limited, headquartered in Shanghai, Peoples Republic of China, has been granted approval by the China...
People
Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...
Willumstad Replaces Sullivan as AIG CEO
Jul 7 2008 // New Chief Sees ‘No Sacred Cows’ in Turnaround Plan; Ready to Divest of Non-Insurance Holdings American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on...
AIG Pays Former CEO Sullivan a Severance Package Worth $47 Million
Jul 1 2008 // American International Group Inc. said it paid a $47 million severance package to former Chief Executive Martin J. Sullivan, whose resignation took effect Tuesday. Sullivan, who left his position in mid-June after two...
Reagan Joins Aon Construction Group, Focusing on Europe, Asia
Jun 30 2008 // Aon Corp. reports that Mark Reagan, former chairman of the Willis Construction practice, has joined Aon Construction Services Group as managing director. Reagan will be responsible for supporting the international practice...
AIG Decides to Hang Onto and Grow Aircraft Leasing Unit, ILFC
Jun 27 2008 // International Lease Finance Corp. (ILFC), an aircraft leasing and remarketing firm, will remain a core holding of insurance giant American International Group, Inc. (AIG). Robert B. Willumstad, AIG chairman and chief...
AIG Introduces Public Entity, Trustee Protector Coverage
Jun 25 2008 // AIG Executive Liability, a unit of AIG Commercial Insurance, introduced Public Entity Plan and Trustee Protector, a policy that protects individuals who manage public entity employee benefit plans from fiduciary liability...
AIG Private Client Group Expands Wildfire Protection Services
Jun 19 2008 // AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc., announced that its Wildfire Protection Unit service has doubled the number of...
Best Lowers Some AIG Ratings; Comments on Management Changes
Jun 18 2008 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A+’ (Superior) from ‘A++’ (Superior) and issuer credit ratings (ICR) to “aa” from “aa+” for the domestic...
AIG Ex-CEO Severance Seen As High As $68M
Jun 18 2008 // American International Group Inc’s former chief executive, Martin Sullivan, who stepped down on Sunday amid large subprime losses, could receive up to $68 million in severance pay and benefits, according to an...
AIG Chief Sees ‘No Sacred Cows’ in Turnaround Plan
Jun 17 2008 // When former Citigroup executive Robert Willumstad lays out his turnaround plan for insurer American International Group in September, it will likely include plans to shed some of the sprawling group’s non-insurance...
Willumstad Replaces Sullivan as AIG CEO
Jun 16 2008 // American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on Sunday, June 15, after it suffered two quarters of record losses from risky mortgage bets and its share...
