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 investment management company currently owns a total of 88,813 shares of American International Group Inc which is valued at $4,770,146.
American International Group is apparently close to placing an order for three A340-600, seven A330 and 40 A320 aircraft from Airbus Industrie in a deal valued at more than USD3bn dollars according to Flight International.
International Lease Finance Corp, which supplies aircraft to airlines on a lease basis, is a unit of American International Group.

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