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 ?
In his new position, Ellis will lead AIG General Insurance's North American Retail Property business and focus on diversifying the company's Property portfolio.
Scheinerman, who joined AIG in 2003, has led AIG Retirement Services since 2017.
To head the new consolidated reinsurance operation AIG Re, the company has appointed Christopher Schaper as CEO.
He added that AIG Ashraf Noor was on his way to work when his vehicle came under attack and adding that the vehicle caught fire after the blast.
To learn more about AIG Travel or the Travel Guard[R] portfolio of travel insurance and assistance services, visit www.aig.com/travel or www.travelguard.com.
AIG will maintain its strategic partnership with Ascot Underwriting Bermuda Ltd.
* Jeremy Johnson, with 16 years' experience at AIG, will lead U.S.
Peter's deep experience in financial services, including as a strong risk manager; his understanding of the AIG enterprise and the insurance business as a whole; his success in revitalizing AIG's property casualty business; and his strong leadership and inclusive relationship skills position him perfectly to lead the company to an even more prosperous future.
Following the crisis, AIG began to sell off various assets in order to pay off its government loans.
AIGFP constituted only 6 percent of the annual revenues of AIG at its peak, according to information provided at several industry meetings.
"This is an exciting time for our company, for our clients and for our partner brokers," says AIG Canada President and CEO Lynn Oldfield.
It's been a bit of an up-and-down week for ex-American International Group (AIG) CEO Hank Greenberg.