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.

AIG names Peter Hancock as new chief executive.

AIG picks Hong Kong-raised Hancock as chief executive

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.