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AIG may pursue fraud case against Bank of America over Countrywide

Published May 08, 2013 - 9:15am CST

(Reuters) — American International Group Inc. may pursue a lawsuit accusing Bank of America Corp.'s Countrywide unit of causing billions of dollars of losses by fraudulently inducing it to buy risky residential mortgage-backed securities.

Property/casualty rates rose 5% in April: MarketScout

By: Mark A. Hofmann

Published May 06, 2013 - 2:19pm CST

Commercial property/casualty insurance rates rose an average of 5% in April over those of the same month a year earlier, Dallas-based electronic insurance exchange MarketScout reported Monday.

S&P raises ratings on AIG’s property/casualty units to A+

By: Mark A. Hofmann

Published May 06, 2013 - 2:03pm CST

Standard & Poor’s Corp. has raised its long-term counterparty credit and financial strength ratings on the property/casualty operating subsidiaries of American International Group Inc. — AIG Property/Casualty, formerly Chartis Inc. — to A+ from A, S&P announced Monday.

Berkshire Hathaway lures four AIG execs in effort to push into E&S market

By: Bill Kenealy And Mark A. Hofmann

Published May 05, 2013 - 6:00am CST

Berkshire Hathaway Inc.'s hiring of top executives from American International Group Inc. shows the Omaha, Neb.-based insurer intends to make a concerted push into the excess and surplus lines market.

AIG reports $2.2 billion in first-quarter net income

By: Mark A. Hofmann

Published May 02, 2013 - 3:39pm CST

American International Group Inc. earned $2.2 billion in net income for the first quarter of 2013, a 31.2% drop from the same period a year earlier.

AIG names new CEO of Lexington E&S division

By: Bill Kenealy

Published April 29, 2013 - 4:51pm CST

American International Group Inc. on Monday announced the appointment of Jeremy Johnson as president and CEO of Lexington Insurance Co., its excess and surplus lines division.

Robert Schimek succeeding Peter Eastwood at AIG

By: Bill Kenealy

Published April 29, 2013 - 12:03pm CST

American International Group Inc. has named Robert Schimek as president and CEO of its property/casualty Americas region, succeeding Peter Eastwood, who left last week to join rival Berkshire Hathaway Inc.

Berkshire looks for bigger E&S footprint by luring AIG P/C execs

By: Bill Kenealy

Published April 26, 2013 - 3:57pm CST

The surprise defection of four senior executives from American International Group Inc. to rival Berkshire Hathaway Inc. likely signals a significant increase in Berkshire's participation in the excess and surplus lines market, experts say.

Four AIG executives resign to join Berkshire Hathaway

By: Gavin Souter

Published April 25, 2013 - 7:07pm CST

Four senior executives from American International Group Inc., including Peter Eastwood, president and CEO of AIG Property/Casualty—The Americas, resigned Thursday to join rival insurer Berkshire Hathaway Inc.

Insurers see big growth potential in Latin America

By: Judy Greenwald

Published April 23, 2013 - 3:39pm CST

LOS ANGELES — The Latin American market presents significant opportunities for growth, an American International Group Inc. executive said here at a breakfast during the Risk & Insurance Management Society Inc. conference Tuesday.

AIG unit not liable for defense of convicted mortgage insurer chairman

By: Judy Greenwald

Published April 12, 2013 - 3:30pm CST

An American International Group Inc. unit is not obligated to continue to pay the defense costs of a former mortgage insurer chairman convicted in connection with a multibillion-dollar fraud.

Liberty Mutual, AIG settle workers comp assessment case

By: Roberto Ceniceros

Published March 28, 2013 - 3:08pm CST

A split U.S. appeals court on Monday laid to rest a long-running dispute pitting Liberty Mutual Holding Co. Inc. against American International Group Inc., though details of a settlement were kept confidential.

Liberty Mutual leads workers compensation insurers in premiums: NAIC

By: Sheena Harrison

Published March 25, 2013 - 12:18pm CST

Liberty Mutual Holding Co. Inc. was the largest workers compensation insurer nationwide in 2012 with about $4.2 billion in direct written premiums, according to the National Association of Insurance Commissioners.

AIG expands collateral options for large-deductible casualty clients

By: Anna Gaynor

Published March 21, 2013 - 2:13pm CST

American International Group Inc. has rolled out a new option for companies with large-deductible casualty insurance programs looking for flexible collateral requirements.

Business Insurance 2013 Innovation Award Winner Videos

Published March 14, 2013 - 3:02pm CST

See video footage of each Business Insurance 2013 Innovation Award winner at the luncheon held in their honor on March 5 in New York.

Business Insurance 2013 Innovation Awards VIDEO: AIG

Published March 13, 2013 - 5:55pm CST

Robert Yellen, New York-based chief underwriting officer for AIG's U.S. and Canadian financial lines, discusses Prospectus Edge, AIG's directors and officers liability insurance product created for Canadian risk managers.

AIG, Marsh formalize seven-day pledge to pay big property claims

By: Mike Tsikoudakis And Sarah Veysey

Published March 10, 2013 - 6:00am CST

An agreement between Marsh Inc. and American International Group Inc. to quickly pay multimillion dollar commercial property damage claims has been welcomed by some buyers, though several observers say it simply codifies existing best practices.

2013 Innovation Awards: Prospectus Edge

By: Roberto Ceniceros

Published March 10, 2013 - 6:00am CST

AMERICAN INTERNATIONAL GROUP INC.

BOOK REVIEW: Maurice Greenberg writes his version of the AIG story

By: Douglas McLeod

Published February 24, 2013 - 6:00am CST

No one would expect Maurice R. Greenberg's “The AIG Story” to be an impartial history of the insurer's rise and near-collapse, and it isn't.

AIG reports $4 billion loss in fourth quarter

By: Bill Kenealy

Published February 21, 2013 - 4:20pm CST

American International Group Inc. reported a net loss of $3.96 billion for the fourth quarter of 2012, compared with net income of $21.48 billion for the same period of 2011.

Insurance industry better able to provide terrorism coverage: Greenberg

By: Mark A. Hofmann

Published February 21, 2013 - 2:50pm CST

WASHINGTON — The private insurance market is far better positioned to provide terrorism coverage than it was when the federal terrorism insurance backstop was created in 2002, according to Maurice R. Greenberg.

Martin Sullivan to leave Willis in May

By: Mark A. Hofmann

Published February 15, 2013 - 9:50am CST

Willis Group Holdings P.L.C. Deputy Chairman Martin Sullivan will leave the brokerage in May, London-based Willis announced Friday.

Cyber threats, reputational risk top concerns: AIG survey

By: Mike Tsikoudakis

Published February 07, 2013 - 11:16am CST

Cyber threats and the reputational risks associated with a cyber attack are top concerns for risk managers and insurance professionals, according to a new survey sponsored by American International Group Inc.

AIG names president, CEO of aerospace division

By: Anna Gaynor

Published February 04, 2013 - 2:55pm CST

American International Group Inc. has named Joseph J. Trotti as president and CEO of its aerospace division, AIG announced in a statement Monday.

Appellate court rules that reporter not entitled to findings of AIG internal policy review

By: Judy Greenwald

Published February 01, 2013 - 1:54pm CST

A reporter is not entitled to see the findings of an independent consultant hired to evaluate American International Group Inc.’s internal policies and past transactions, an appellate court ruled Friday, in overturning a lower court ruling.

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