American International Group dates back to 1919, when American Asiatic Underwriters was founded in Shanghai, expanding through the region, and opening a US office in 1926 and shifting its head office to New York in 1939. It received a US$85 billion bailout in 2008. It subsequently sold assets to raise cash, including its Hong Kong arm, AIA Group, which subsequently raised more than US$20 billion in an IPO.
Hong Kong-raised Peter Hancock has been promoted to chief executive of American International Group as the firm focuses on growth after his predecessor stabilised the insurer and paid back a 2008 government bailout.Saturday, 14 June, 2014, 6:12am
American International Group announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 per cent after the bell.2 Aug 2013 - 11:36am
The US financial risk council on Tuesday said it has designated American International Group and GE Capital as systemically risky, bringing them under stricter regulatory oversight.
The Financial Stability Oversight Council’s decision to name its first set of “systemically important” non-bank firms had been long expected by the financial services industry.10 Jul 2013 - 10:31am
Former American International Group chief executive Maurice “Hank” Greenberg failed to persuade New York state’s highest court to dismiss a lawsuit seeking to hold him accountable for sham transactions at the insurer.
The decision by the state’s Court of Appeals is a victory for New York Attorney General Eric Schneiderman, who has been pursuing a case first brought in 2005.26 Jun 2013 - 12:19pm
AIG said last week that it had not received a deposit required in an agreement to sell International Lease Finance Corp to acquirers led by New China Trust's chairman, Weng Xianding. That would allow AIG to cancel the accord, reached in December last year, to sell 80 per cent of ILFC for about US$4.2 billion.6 Jun 2013 - 4:53am
AIG is likely to cancel the planned sale of its ILFC aircraft leasing unit to a Chinese buyer group, after the group missed a deposit payment deadline4 Jun 2013 - 11:01am
American International Group’s rescue is coming to an end more than four years after the US took over the company to save the global economy in a bailout that fuelled resentment against Wall Street.11 Dec 2012 - 3:12pm
A Chinese group agreed to buy 80.1 per cent of American International Group’s plane-leasing unit for US$4.23 billion in the nation’s largest acquisition of a US company.10 Dec 2012 - 5:56pm
How can a continuing business worth billions of dollars a year disappear from the public record of a listed company overnight?1 Dec 2012 - 3:06am
The initial public offering of the mainland's largest general insurer, People's Insurance Company (Group) of China (PICC), raises lots of doubts.
The firm is trying to answer them with a US$500 million investment by American International Group. Yet, can it?24 Nov 2012 - 3:59am