AIG showed continued improvement in its core business-insurance operations, but a weaker and shrinking share of income from a life-insurance unit being divested kept its operating income relatively flat.
Tag: AIG
AIG Forms Private Client Select Insurance Services, An Independent MGA
American International Group today announced that it has finalized its agreement with funds managed by Stone Point Capital LLC to form Private Client Select Insurance Services, an independent Managing General Agency to serve High Net Worth and Ultra High Net Worth markets.
AIG and Stone Point Capital to Form Independent MGA to Serve HNW Markets
AIG has entered into an agreement with Stone Point Capital LLC, a leading private equity firm focused on investing in businesses within the global financial services industry, to form an independent MGA to serve High Net Worth and Ultra High Net Worth markets.
AIG Fires Interim CFO Mark Lyons for Confidentiality Breach
American International Group said on Monday it has terminated Mark Lyons as interim chief financial officer for violating the company’s confidentiality obligations.
AIG Subsidiary Files for Chapter 11 Bankruptcy
American International Group Inc (AIG) said on Wednesday its subsidiary, AIG Financial Products (FP), had filed for Chapter 11 bankruptcy protection.
It’s Five More Years for AIG CEO Zaffino
The employment term of AIG Chief Executive Officer Peter Zaffino has been extended for five years through November 10, 2027.
Prudential Suffers Big Loss on Rising Rates, AIG Reports Ian Losses
Rising interest rates and volatile stock markets hurt insurer Prudential Financial Inc. while AIG was hit with Hurricane Ian claims in third quarter.
Leasing Operator Carlyle Seeks $700M from Insurers, Reinsurers Over Jet Seizures
Carlyle Aviation seeks $700 million from insurers, which include AIG, Axis, and Chubb, after failing to pay out on jet seizures by Russian airlines.
Lexington Insurance Launches Middle Market Casualty Group
Lexington Insurance Company, an American International Group, Inc. (AIG) company, announced the launch of the Lexington Middle Market Casualty team, a group of dedicated underwriters focused on providing insurance coverage exclusively to small-to-medium-sized commercial enterprises, substantially expanding the company’s market reach beyond upper middle-market andlarge enterprises. The team, which is headed by Paul McLaughlin, Senior… Continue reading Lexington Insurance Launches Middle Market Casualty Group
Sunoco Subsidiary Sues AIG’s National Union Fire Insurance Company for Refusing to Cover Climate-Change Litigation
Sunoco subsidiary Aloha Petroleum is suing its former liability insurer in federal court in Hawaii, alleging that the company is failing to defend Aloha in climate-change lawsuits filed against Big Oil companies by local governments in Honolulu and Maui. According to the complaint filed Wednesday by Cades Schutte attorneys, AIG’s National Union Fire Insurance Company… Continue reading Sunoco Subsidiary Sues AIG’s National Union Fire Insurance Company for Refusing to Cover Climate-Change Litigation