AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a conference call …
American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third quarter ended Sept. 30, 2011, compared with a net loss of $2.5 billion and an after-tax operating …
A new report from the U.S. Government Accounting Office chronicles the government’s handling of AIG bailout in 2008. In all, the government had invested and made loans worth more than $182 billion for the insurer. The 152-page report, titled “Financial …
The U.S. Treasury Department said it received an additional repayment of $972 million from American International Group (AIG). The payment came mostly from the scheduled release of the escrow from AIG’s sale of its American Life Insurance to MetLife last …
Chartis has appointed Tim Carter as chief underwriting officer for the company’s global commercial insurance unit. He will be responsible for underwriting leadership, strategy and governance for the financial lines, specialty, property, casualty and global risks solutions businesses within global …
A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case belonged. U.S. District Judge Barbara Jones …
AIA Group Ltd, Asia’s No.3 insurer, said growth accelerated in the third quarter, with its value of new business rising 53 percent as strong performance in markets such as Malaysia helped boost earnings. The insurer’s value of new business (VONB) …
U.S. regulators Tuesday are set to give nervous insurance companies, mutual funds and other big players in financial markets a better idea of whether they will be tapped for the same type of additional government scrutiny facing large U.S. banks. …
New York federal court gave a preliminary approval to American International Group’s $725 settlement deal with Ohio public pension funds. It’s another forward step in AIG’s effort to resolve ongoing legal dispute with investors in the consolidated 2004 securities litigation. …
American International Group said its property/casualty carrier Chartis will eliminate some jobs, with the reduction affecting less than 1 percent of its workforce, or roughly 400 or fewer positions. “As part of Chartis’ review of its personnel needs, we have …
