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AIG profit lifted by AerCap, China investment; raises buyback

Published August 03, 2015 - 3:29pm CST

(Reuters) — Insurer American International Group Inc. reported a 5.6% jump in quarterly operating profit, driven by investments in one of China's biggest insurers and earnings from aircraft leasing company AerCap.

Feds ask AIG for more resolution plan details

By: Mark A. Hofmann

Published July 28, 2015 - 3:00pm CST

Federal regulators have asked American International Group Inc. and two other companies to provide more information about their resolution plans.

AIG bailout case to continue as Greenberg seeks damages

By: Mark A. Hofmann

Published June 21, 2015 - 6:00am CST

Former American International Group Inc. leader Maurice R. Greenberg and other AIG shareholders vowed to continue their legal battle to win billions in damages stemming from the government's “unduly harsh” terms to bail out the insurer in 2008.

New York case against ex-AIG CEO Greenberg heads back to court

Published June 19, 2015 - 9:58am CST

(Reuters) — A decade-old lawsuit in which New York accused former AIG CEO Maurice R. Greenberg of accounting fraud will head to the state's highest court for a second time.

Starr to appeal denial of AIG shareholder compensation in bailout

By: Mark A. Hofmann

Published June 16, 2015 - 3:51pm CST

Starr International Co. Inc. said last Tuesday that it will appeal a federal judge's decision that although the Federal Reserve acted illegally in requiring American International Group Inc. to transfer about 80% of its equity to the government for 2008 financial assistance, the government is not required to monetarily compensate shareholders including former AIG leader Maurice R. Greenberg.

AIG bailout ruled illegal, but no damages for Greenberg

By: Mark A. Hofmann

Published June 15, 2015 - 12:47pm CST

The federal government acted illegally in the conditions it set for rescuing American International Group Inc. in 2008, a federal judge ruled Monday.

Data scarce for insurers covering cyber risks

By: Sarah Veysey

Published June 10, 2015 - 11:12am CST

U.S. insurers are cautiously underwriting cyber coverage as they seek to understand the true nature of the underlying risk, according to a report by Standard & Poor's Corp.

Commercial drones poised to transform how insurers do business

Published June 07, 2015 - 6:00am CST

In the latest episode of Business Insurance In Focus, we examine how the impending approval of commercial drone use in the U.S. is impacting various aspects of the insurance industry.

AIG selling off $3.7 billion of aircraft leasing firm shares

By: Mark A. Hofmann

Published June 04, 2015 - 11:04am CST

American International Group Inc. plans to sell about 86.9 million ordinary shares of AerCap Holdings N.V. later this month in a transaction worth about $3.7 billion, AIG announced.

AIG offers home appliance cover as voluntary benefit

By: Shelby Livingston

Published June 03, 2015 - 10:23am CST

American International Group Inc. has launched AIG Home Protection, a voluntary employee benefit to cover out-of-pocket expenses related to repairing or replacing home appliances and products.

School's lost AIG policy existed: Court

By: Judy Greenwald

Published May 28, 2015 - 3:46pm CST

A New Hampshire middle school has presented plausible evidence that it had a nearly 50-year-old commercial general liability policy with an AIG unit, even though no one can find a copy of it.

Insurance industry welcomes U.S. regulatory reform efforts

By: Mark A. Hofmann

Published May 24, 2015 - 6:00am CST

Insurer provisions of a wide-ranging proposal to reform the financial services regulatory process are drawing generally favorable reviews from property/casualty insurance industry observers.

Former AIG exec to join Worldwide Broker Network

By: Shelby Livingston

Published May 21, 2015 - 10:55am CST

Worldwide Broker Network has named former American International Group Inc. executive Francie Starnes to the newly created role of president and chief operating officer.

AIG expands into multinational benefits

By: Sarah Veysey

Published May 20, 2015 - 9:48am CST

American International Group Inc. on Wednesday said it has acquired a controlling stake in Brussels-based ING Employee Benefits Global Network and renamed it AIG Global Benefits Network.

AIG promotes deputy investment officer to chief strategy officer

By: Mark A. Hofmann

Published May 13, 2015 - 9:49am CST

American International Group Inc. on Wednesday said its deputy chief investment officer, Brian T. Schreiber, has been named to the newly created role of executive vice president and chief strategy officer.

Reform bill would ease 'systemically important' rules for insurers

By: Mark A. Hofmann

Published May 12, 2015 - 12:46pm CST

A discussion draft of proposed regulatory reform legislation would require the Financial Stability Oversight Council to be more transparent as it determines whether a non-bank financial institution such as an insurer presents a systemic risk to the nation’s economy.

Congress eyes bank-centric insurer rules

By: Mark A. Hofmann

Published May 10, 2015 - 6:00am CST

Critics of the way the Financial Stability Oversight Council designates nonbank financial entities as systemically important financial institutions are welcoming Congress' apparently greater interest in how the council operates.

AIG results show continued improvement, analysts say

By: Mark A. Hofmann

Published May 01, 2015 - 2:03pm CST

American International Group Inc.'s first quarter results show continued improvement in a difficult environment for insurance pricing and investment returns, according to analysts.

AIG first-quarter earnings down slightly on interest rates, returns

Published April 30, 2015 - 3:29pm CST

(Reuters) — American International Group Inc.'s first-quarter earnings fell slightly as low interest rates and weaker returns from alternative investments offset improvements in its commercial insurance business.

JLT Specialty names transaction advisory practice leader

By: Shelby Livingston

Published April 27, 2015 - 2:47pm CST

JLT Specialty Insurance Services Inc., a unit of Jardine Lloyd Thompson Group P.L.C., has named John McNally to the newly created position of leader and senior vice president of its transaction advisory practice.

Greenberg case over AIG takeover questions government reach

By: Mark A. Hofmann

Published April 26, 2015 - 6:00am CST

The legal battle pitting former American International Group Inc. Chairman and CEO Maurice R. Greenberg and other AIG stockholders against the government over the terms of AIG's 2008 bailout may — or may not — have lasting significance.

Former AIG exec takes management liability practice post

By: Judy Greenwald

Published April 22, 2015 - 12:46pm CST

Matthew Kletzli has joined Victor O. Schinnerer & Co. as senior vice president and management liability practice leader, the Chevy Chase, Maryland-based managing general underwriter said Wednesday.

Government had no right to take 80% in AIG bailout: Greenberg lawyer

By: Mark A. Hofmann

Published April 22, 2015 - 11:44am CST

WASHINGTON — The federal government did not have the authority to demand nearly 80% of AIG's equity in return for financial assistance during the 2008 financial crisis, an attorney for AIG investors told a federal judge Wednesday.

Ex-AIG chief Greenberg presses for dismissal of fraud charges

Published April 22, 2015 - 9:10am CST

(Reuters) — In an effort to avoid trial, former American International Group Inc. Chairman Maurice R. Greenberg is seeking permission to ask New York's highest court to throw out the accounting fraud case against him.

AIG invests in cyber investigation firm

By: Judy Greenwald

Published April 16, 2015 - 12:08pm CST

American International Group Inc. has obtained a minority stake in cyber investigation firm K2 Intelligence with plans to co-develop products and services with the company, the New York-based insurer said.

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