American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology infrastructure and services. The company has broken down the effort …
American International Group Inc. executives on Thursday defended their strategy for transforming the company, saying some key improvements would take hold by year-end, but failed to convince investors as shares slid more than 6 percent. The New York-based insurer reported …
Billionaire investor Carl Icahn is backing off his demand to break up insurance giant American International Group Inc., following the company’s sale of assets and hiring of a new chief executive officer, a person familiar with the matter said. Icahn, …
American International Group’s President and CEO Brian Duperreault began his first full day in his new job repudiating the idea of splitting the insurer into pieces and simply returning money back to shareholders. “I recognize the value of the company’s …
Since its 2008 bailout, American International Group Inc. has delivered paydays for investment bankers, Warren Buffett and even departing executives. Shareholders? Not so much. AIG shares have lost 1.6 percent since the day of the U.S. government rescue, compared with …
American International Group Inc., which is shrinking under pressure from activist investors, is committed to retaining operations in both life insurance and property/casualty coverage, Chairman Doug Steenland said. “We remain of the view that that is the right long-term position …
American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year reinsurance deal will help AIG be more …
Carl Icahn, the activist investor calling for a breakup of American International Group Inc., said the alternative plan presented last week by the insurer’s chief executive officer was inadequate and that he’s assembling a slate of directors to shake up …
Activist investor Carl Icahn has again called for American International Group (AIG) to be divided into three separate companies and expressed doubt that AIG CEO Peter Hancock’s planned strategy presentation next week will satisfy his demand. He said that if …
American International Group Inc. Chief Executive Officer Peter Hancock, who took over the top job in September, said he plans to sell more businesses that don’t align with the insurer’s biggest moneymakers. “Floating or selling businesses that lack current or …
