AIG


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AIG

A large insurance and financial services company. It was established in 1919 in Shanghai, where it was the first Western company to sell insurance in China. It went on to become one of the largest companies in the world, underwriting more commercial and industrial insurance in the United States than any other company. Its credit rating fell below AA in September 2008, which caused a liquidity crisis in the company. It subsequently required a bailout in the form of loans from the Federal Reserve to stay afloat. It also received money from TARP. At the time, it was the largest bailout of a private company in U.S. history.
References in periodicals archive ?
The AIG Companies' North American marine insurance underwriting operations have historically been handled by a managing general agent, American International Marine Agency, Inc (AIMA), a subsidiary of C.
Going forward, Fitch expects AIG to manage holding company leverage below 15%.
Sullivan, AIG President and Chief Executive Officer, said, "Tim Schiltz brings to AIG a wealth of knowledge and expertise in developing and distributing retirement savings products.
In addition, AIG Specialty Excess has also announced the appointments of Bob Penny, Senior Vice President - Public Entity, as well as Bill McDaid Eastern Zone Senior Vice President in New York; Mark Kleabir Western Zone Senior Vice President in Los Angeles; Karen Votta, Assistant Vice President in Philadelphia; and Tom Rocca, Assistant Vice President in San Francisco.
AIG Global Energy is a leader in this sector across multiple lines of business, capable of offering powerful solutions to both brokers and insureds.
AIG, like other foreign-based insurers in Japan's life market, continues to expand its market presence as domestic Japanese life insurers struggle with evaporating investment returns in an economy that has been stagnant for a decade.
AIG Europe will include AIG's property-casualty operations in all 12 member countries of the EC, as well as in Switzerland, Sweden, Norway, Finland and Austria.
AIG Environmental Property(SM)insurance is underwritten by Lexington Insurance Company, a member company of AIG, and one of the industry's leading property insurers.
Austin will be responsible for expanding and implementing AIG's diversity initiatives in the workforce, as well as those relating to AIG products, suppliers, vendors, and its customer base.
Three new coverage options can be added upon request to AIG Private Client Group homeowners' policies in approved states.
AIG companies serve commercial, institutional, and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer.