History | AIG US (2024)

FAQs

Did AIG repay bailout money? ›

AIG was one of the beneficiaries of the 2008 bailout of institutions that were deemed "too big to fail." The insurance giant was among many that gambled on collateralized debt obligations and lost. AIG survived the financial crisis and repaid its massive debt to U.S. taxpayers.

Bad bets on mortgages by the Financial Products unit knocked parent company AIG off its feet, leading to a cascading series of bank failures that nearly caused a global economic collapse.

American International Group, Inc.

(AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people.

Answers in Genesis (AiG) is an American fundamentalist Christian apologetics parachurch organization. It advocates Young Earth creationism on the basis of its literal, historical-grammatical interpretation of the Book of Genesis and the Bible as a whole.

for Role in Fraudulent Manipulation Scheme. WASHINGTON – The former vice president of reinsurance of American International Group Inc.

WASHINGTON — The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to executives in the same business unit that brought the company to the brink of collapse last year.

That's the message of Gordon Massie, a 30-year veteran of the financial industry, whose book “The Whistleblower's Dilemma,” tells the tale of corporate greed, deceit and fraud inside American International Group - AIG - the financial mega-corporation that imploded in 2008 and subsequently received an $80 million ...

During the financial crisis, the government's overall support for AIG totaled approximately $182 billion. That included nearly $70 billion that Treasury committed through TARP and $112 billion committed by the Federal Reserve Bank of New York (FRBNY).

6, 2009 — The Securities and Exchange Commission today charged former American International Group Chairman and CEO Maurice "Hank" Greenberg and former Vice Chairman and CFO Howard Smith for their involvement in numerous improper accounting transactions that inflated AIG's reported financial results between 2000 and ...

AIG Life & Retirement is now Corebridge Financial.

Does AIG have a new name? ›

"AIG Announces Plan to Rebrand its Life & Retirement Business as Corebridge Financial." Accessed February 13, 2023.

In 1919, working from a two-room office in Shanghai, China, Cornelius Vander Starr established American Asiatic Underwriters, an insurance agency to which we trace our roots.

1. Genesis is the first book of the Torah, which is in turn the first portion of the Jewish sacred texts known collectively as the Tanakh. Genesis has also been incorporated into the Old Testament of the Christian Bible.

Concerning the age of the Earth, the Bible's genealogical records combined with the Genesis 1 account of creation are used to estimate an age for the Earth and universe of about 6000 years, with a bit of uncertainty on the completeness of the genealogical records, allowing for a few thousand years more.

We are a lay community patterned after first century Christianity.

AIG announced that it raised approximately $36.7 billion in gross proceeds to repay a significant portion of the government's assistance to AIG through its sale of American Life Insurance Company (ALICO) and the initial public offering of AIA Group Limited (AIA).

Less than seven months later, however, AIG was on the verge of bankruptcy and had to be rescued by the United States government through an $85 billion loan. Government aid has since grown to $182.5 billion, and AIG's stock recently traded at less than $1.00 per share.

The solution was a bailout—of AIG, and of the financial system as a whole. The Fed and Treasury made virtually unlimited funds, $182 billion in all, available to AIG so that it could make payments to counterparties like Goldman Sachs and Deutsche Bank, and thus spare them from losses.

For full year 2023, net income attributable to AIG common shareholders was $3.6 billion, or $4.98 per diluted common share, compared to $10.2 billion, or $12.94 per diluted common share, in the prior year.