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
Tag: AIG
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