Rising interest rates and volatile stock markets hurt insurer Prudential Financial Inc. while AIG was hit with Hurricane Ian claims in third quarter.
Tag: AIG
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
AIG Releases Environmental, Social and Governance (ESG) Report
American International Group, Inc.today released its 2021 Environmental, Social and Governance (ESG) Report. The 2021 ESG Report builds upon AIG’s inaugural ESG Report published last year, which provided the company’s first holistic view of its efforts to support a more sustainable, equitable and prosperous future. Guided by AIG’s new Purpose and Values Statement, the Report’s… Continue reading AIG Releases Environmental, Social and Governance (ESG) Report
Insurer AIG Says BlackRock Will Manage Part of Life and Retirement Unit’s Assets
Insurer American International Group Inc (AIG) said BlackRock Inc, the world’s largest asset manager, will manage $60 billion of its global investment portfolio and up to $90 billion of assets on behalf of its life and retirement business. BlackRock will manage certain liquid fixed income and private placement assets according to the deal, which comes… Continue reading Insurer AIG Says BlackRock Will Manage Part of Life and Retirement Unit’s Assets
AIG Swings into Profit
American International Group Inc. (AIG) increased its fourth-quarter profit from the previous year, when the Covid-19 pandemic harmed results, as a turnaround effort lifted earnings in its main business-insurance unit. The global company earned $3.74 billion in net income, compared to a net loss of $60 million in the previous quarter. Its adjusted after-tax income,… Continue reading AIG Swings into Profit
IICF, Aon, AIG and Zurich Partner for Apprenticeship Webinar Dedicated to Promoting Diverse Insurance Workforce
The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, today hosted a new webinar titled Connecting Talent with Opportunity: Apprenticeship Programs. Speakers featured in the webinar highlighted the importance and success of apprenticeship programs at Aon, AIG and Zurich and provided best practices for recruiting new and… Continue reading IICF, Aon, AIG and Zurich Partner for Apprenticeship Webinar Dedicated to Promoting Diverse Insurance Workforce
AIG and Blackstone Close Transaction in Life & Retirement Business
American International Group, Inc. and Blackstone today announced that the previously disclosed transaction for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business and for Blackstone to manage an initial $50 billion of Life & Retirement’s existing investment portfolio has closed. It was announced back in July that the pair had… Continue reading AIG and Blackstone Close Transaction in Life & Retirement Business
COVID-19 Travel Insurance Becoming a Vacation Staple
COVID-19 insurance policies are increasingly joining passports and sunscreen as vacation staples, creating opportunities for insurers as more countries require mandatory coverage in case visitors fall ill from the coronavirus. Airline bookings are on the rise in some regions, driving cautious hopes of a revival in summer traffic, but also raising fears among tourist destinations… Continue reading COVID-19 Travel Insurance Becoming a Vacation Staple