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 ?
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 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 joined AIG in 1990 as an Assistant General Counsel for the Corporate Law Department where she handled a variety of litigation matters including employment and reinsurance.
For example, following a covered water loss resulting from a burst pipe, AIG Private Client Group would pay up to $2,500 toward the installation of an automatic water shutoff device.
The Security & Privacy Insurance policy, which combines coverage for third-party liability with coverage for first party expense for healthcare entities, is provided as an endorsement to AIG Healthcare's Liability Insurance.
In addition to servicing NHCC with a dedicated team of VALIC financial advisors, AIG VALIC will also provide NHCC plan participants with a complete suite of enhanced Internet support services, including online financial planning and education, online seminar registration, online enrollment, and the ability to aggregate all potential sources of retirement income into a single platform.
We evaluated each retirement services company that responded to our RFP against eight different criteria, and AIG VALIC scored highest in each category," said David Holmquist, Director of Risk Management and Insurance Services, LAUSD.
AIG also announced today that it has filed an Amendment to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2005 (Second Quarter 2005 Form 10-Q/A).
The approvals enable branches of the two AIG subsidiaries to expand in Guangdong province and Jiangsu province.
Fitch originally placed AIG on Rating Watch Negative in March 2005.