Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
5 Execs Found Guilty of Fraud in Gen Re-AIG Trial
Feb 25 2008 // A federal court jury in Hartford, Connecticut has found four former General Re Corp. executives and one former American International Group executive guilty of corporate fraud and conspiracy charges stemming from...
AIG’s $5 Billion Write-Down Has Rating Agencies, Wall Street Concerned
Feb 24 2008 // Some observers speculate the fallout could lead to additional woes for AIG including possibly CEO Sullivan’s exit While American International Group Inc. sought to downplay its miscalculation of losses on a...
People
Feb 24 2008 // San Diego-based Barney & Barney LLC named Jim O’Connell principal. He also will serve as director of development for programs, specialty insurance solutions. In that role, he is responsible for both regional and...
AIG Files to Block ex-CEO Greenberg’s Access to Internal Documents
Feb 22 2008 // American International Group Inc. Friday filed a motion for a stay of a court order requiring it to turn over some internal documents to ex-Chief Executive Officer Maurice “Hank” Greenberg. An appeals court...
S&P Takes Rating Actions -‘Mostly Negative’- on U.S. Mortgage Insurers
Feb 15 2008 // Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent...
A.M. Best Places AIG Ratings Under Review with Negative Implications
Feb 14 2008 // A.M. Best Co. has placed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings (ICR) of “aa+” of the domestic life and retirement services subsidiaries of American International Group...
AIG Downplays $5B Write-Down; Rating Agencies, Wall Street Concerned
Feb 12 2008 // While American International Group Inc. sought to downplay its miscalculation of losses on a derivatives portfolio as not “material to the company,” Wall Street was abuzz with speculation over whether the...
S&P Revises Outlook on AIG
Feb 12 2008 // American International Group Inc. may be quite sanguine about its financial outlook (See related article), but Standard & Poor’s Ratings Services isn’t quite as confident. S&P announced that it has...
Jurors to Begin Deliberations on Gen Re-AIG Reinsurance Case This Week
Feb 11 2008 // After a month of testimony, jurors in Hartford are expected to begin deliberating this week over the fate of former executives of General Re Corp., a reinsurance company owned by Berkshire Hathaway, without hearing from...
AIG Shares Fall as Insurer Reports Internal Audit Weakness
Feb 11 2008 // Giant international insurer American International Group Inc. saw its shares fall 11 percent today on its acknowledgement that it may have incorrectly valued the effect of the ongoing credit crisis in previous...
TheStreet.Com’s Jim Cramer: AIG Got Cocky, Got Caught
Feb 11 2008 // The insurer’s auditing probe is a result of judgments on data that could not be modeled, says Jim Cramer of www.thestreet.com in this video interview on Wall Street...
People
Feb 10 2008 // Susan Doyle has been named president and COO of Wisconsin-based Wausau Insurance, part of the commercial markets business unit of the Boston-based Liberty Mutual Group. Doyle replaces Mark Fiebrink, who retired. Doyle...
People
Feb 10 2008 // Former Ace Ltd. CEO and Chairman Brian Duperreault has stepped down from the Bermuda-based insurer to assume to role of president and CEO of Marsh & McLennan Companies Inc. Duperreault replaces Michael Cherkasky, who...
AIG Reaches $12.5M Settlment With States Over Bid-Rigging Allegations
Feb 10 2008 // American International Group, Inc. (AIG) has reached settlements with Florida, West Virginia, seven other states and the District of Columbia relating to their investigations into alleged bid-rigging and price-fixing and...
AIG to Pay $12.5M in Settlement with States Over Bid-Rigging Allegations
Feb 10 2008 // American International Group Inc. (AIG) confirmed in late January that it reached settlements with nine states and the District of Columbia relating to their investigations into alleged bid-rigging and price-fixing, and...
People
Feb 10 2008 // Louisiana Workers’ Compensation Corporation hired Michael Page as director of safety and loss prevention. Page previously was director of loss prevention services for Workforce Safety and Insurance in North Dakota...
AIG to Pay $12.5M in Settlement with States Over Bid-Rigging Allegations
Feb 10 2008 // American International Group Inc. (AIG) confirmed in late January that it had reached settlements with nine states and the District of Columbia relating to their investigations into alleged bid-rigging and price-fixing and...
Trial Witness Says Buffett Was Told of General Re-AIG Deal
Feb 7 2008 // A former top executive for General Reinsurance Corp. e-mailed billionaire investor Warren Buffett in 2000 about a reinsurance transaction with American International Group Inc. that triggered a criminal trial, a government...
ACE’s Duperreault Named CEO of Marsh & McLennan
Jan 30 2008 // Marsh & McLennan Companies, Inc. (MMC) has appointed Brian Duperreault, who helped grow Bermuda-based ACE Limited, as president and chief executive officer of MMC, effective immediately. He replaces Michael Cherkasky,...
AIG Introduces Package Policy for Management, Professional Liability
Jan 29 2008 // AIG Executive LiabilitySM Announces AIG PrivateEdge PlusSM Modular Package of Seven Coverages Available for All Private Companies AIG Executive Liability, a division of the property-casualty insurance subsidiaries of...
