Insurer American International Group Inc said on Tuesday it paid Chief Executive Officer Brian Duperreault $20.9 million in 2018 while also outlining a series of reforms to its pay practices in the face of shareholder criticism. The pay, for Duperreault’s first full year at the helm of the insurer, was less than half the $43.1… Continue reading AIG Paid CEO Duperreault $20.9 Million in 2018
Tag: AIG
AIG Canada to Stop Underwriting New Individual Personal Policies
AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that came to light late last week. The decision does not affect AIG’s commercial business, which… Continue reading AIG Canada to Stop Underwriting New Individual Personal Policies
Norsk Hydro Says Cyber Attack Could Cost $41M, Names AIG as Lead Insurer
Aluminium manufacturer Norsk Hydro has said that it is anticipating a financial impact of between 300-350 Norwegian crowns (USD $35-41 million) for the first week following a cyber attack on March 19 that caused major disruption to its operations. The Norwegian firm also stated that it had a “solid cyber risk insurance policy with recognized… Continue reading Norsk Hydro Says Cyber Attack Could Cost $41M, Names AIG as Lead Insurer
AIG Sells Stake in Chinese Insurer PICC
American International Group (AIG) has sold its holding of 1.1 billion Hong Kong-listed shares of China’s largest non-life insurer, exiting a six-year investment that barely broke even. AIG raised HK$3.8 billion ($484 million) from selling the stake in People’s Insurance Company of China (PICC), which accounts for 12.76% of state-owned PICC’s Hong Kong-listed equity, a… Continue reading AIG Sells Stake in Chinese Insurer PICC
AIG Swings to Loss, Hit by Catastrophes and Volatile Market
American International Group Inc. (AIG) on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market. Excluding realized investment gains and losses and some other items, AIG posted a loss of $559 million, or 63 cents per share, for the fourth-quarter… Continue reading AIG Swings to Loss, Hit by Catastrophes and Volatile Market
AIG Adds Thomas Motamed to Board of Directors
American International Group, Inc. (AIG) has announced that Thomas F. Motamed has been elected to its Board of Directors, effective immediately. Motamed retired from his position as Chairman and Chief Executive Officer (CEO) of CNA Financial Corporation in 2016, a role that he had held since 2009. Prior to this, he spent 31 years at… Continue reading AIG Adds Thomas Motamed to Board of Directors
Expedia Chooses AIG to Sell Travel Insurance on its Websites
American International Group Inc. said it has been selected to sell travel insurance to customers of Expedia Inc.’s websites, part of AIG’s larger effort to earn more revenue from consumers. Expedia’s Brand Expedia Group, one of the world’s biggest travel-site operators by bookings, said the pact would make AIG’s Travel Guard offerings available to people… Continue reading Expedia Chooses AIG to Sell Travel Insurance on its Websites