American International Group
American multinational finance and insurance corporation
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March 2024 | British regulators approved the sale of AIG Life Ltd's UK arm to Aviva for £460 million, marking a significant divestment for the company. |
2023 | AIG announced its continued title sponsorship of the Women's Open through 2030, with a further increase in the total purse to $9 million. |
2023 | For the sixth consecutive year, AIG was named among the Top 50 Companies for Diversity by DiversityInc. |
July 2023 | AIG board of directors reconstituted, including notable members such as Paola Bergamaschi, James Cole Jr., John Rice, and Peter Zaffino as chairman and CEO. |
May 2023 | AIG agreed to sell Crop Risk Services to American Financial Group for $240 million and Validus Re to RenaissanceRe for $2.985 billion. |
February 2023 | AIG and Stone Point Capital entered an agreement to establish an independent managing general agency, Private Client Select Insurance Services (PCS). |
2022 | Corebridge Financial (formerly AIG's life and retirement business) became an independent entity, raising $1.68 billion in the largest U.S. IPO of the year. |
2022 | AIG set a new benchmark for women's major championship golf prize payouts, increasing the AIG Women's Open tournament purse to $7.3 million, a 125% increase since 2018. |
January 2022 | Peter Zaffino became chairman of the AIG board. |
2021 | AIG established the largest major women's golf prize fund at $5.8 million for the AIG Women's Open. |
July 2021 | Blackstone Group agreed to acquire 9.9% of AIG's life and retirement insurance business for $2.2 billion cash. |
March 1 2021 | Peter Zaffino succeeded Brian Duperreault as AIG's CEO, with Duperreault becoming executive chairman of the board. |
2020 | AIG extended its Women's British Open sponsorship contract to 2025 and rebranded the event as the AIG Women's Open. |
January 2020 | AIG announced the end of its decade-long sponsorship of the All Blacks in 2021. |
January 2020 | Peter Zaffino succeeds Brian Duperreault as president of AIG, while Duperreault remains the company's CEO. |
2019 | AIG signed a five-year contract to become the title sponsor of the Women's British Open, marking its first major sponsorship in golf. |
2019 | AIG launched 'AIG 200', a multi-year program to improve operations by modernizing workflows and unifying operations. |
November 2019 | A Carlyle-managed fund and T&D Holdings acquired a majority interest in Fortitude Re, leaving AIG with a 3.5% stake. |
2018 | AIG established Fortitude Re to hold most of its run-off portfolios and sold a minority stake to The Carlyle Group. |
2018 | AIG was ranked 60th on the Fortune 500 list. |
2018 | AIG acquired Ellipse, a UK life insurance business, from Munich Re. |
July 2018 | AIG acquired Validus Holdings Ltd., a Bermuda-based reinsurance provider specializing in property risk, catastrophe risk, and crop insurance, which brought in fresh underwriting talent. |
January 2018 | AIU and Fuji Fire and Marine Insurance (FFM) business units merge into AIG Sonpo, consolidating AIG's insurance operations in Japan. |
2017 | AIG announces plans to reorganize its business segments into General Insurance and Life & Retirement. |
September 2017 | The Financial Stability Oversight Council removes AIG's designation as a nonbank systemically important financial institution (SIFI), signaling the company's progress in de-risking since 2008. |
May 15 2017 | Brian Duperreault is appointed as the new CEO of AIG, returning to the company he previously worked for from 1973 to 1994 after leading Hamilton Insurance Group. |
March 2017 | Peter Hancock announces his intention to step down as AIG CEO amid pressure from disappointing financial results. |
August 2016 | AIG sold United Guaranty, its mortgage-guarantee unit, to Arch Capital Group for $3.4 billion. |
January 2016 | AIG announced plans for an initial public offering of 19.9% of United Guaranty Corp., a mortgage insurance provider. |
June 2015 | Taiwan's Nan Shan Life Insurance acquired a stake in AIG's Taiwan subsidiary for $158 million. |
September 2014 | Peter Hancock succeeded Robert Benmosche as president and CEO of AIG. |
July 2014 | AIG and Bank of America settled their lawsuit, with Bank of America paying $650 million to AIG, who then dismissed their litigation. |
May 28 2013 | AIG withdrew the Maiden Lane lawsuit against the Federal Reserve Bank of New York 'without prejudice'. |
May 7 2013 | Los Angeles U.S. District Judge Mariana Pfaelzer ruled in a case between AIG and Bank of America concerning misrepresentations about mortgage portfolio quality. |
January 2013 | AIG filed a lawsuit against the Federal Reserve Bank of New York regarding $18 billion in litigation claims on troubled mortgage debt through Maiden Lane Transactions. |
January 1 2013 | AIG launched an advertising campaign called 'Thank You America', featuring company employees including President and CEO Robert Benmosche expressing gratitude for government assistance. |
2012 | AIG renamed its global property-and-casualty insurance business from Chartis to AIG Property Casualty during the third quarter of the year. |
2012 | AIG fully repaid $205 billion to the United States government following the 2008 financial crisis bailout. |
2012 | SunAmerica, the company's life-insurance and retirement-services division, was rebranded as AIG Life and Retirement. |
December 14 2012 | Treasury Department sold the last of its AIG stock in its sixth stock sale for approximately $7.6 billion, realizing a total gain of more than $22 billion from common stock and $0.9 billion from preferred stock. |
October 12 2012 | AIG announced a five and a half year sponsorship agreement with six New Zealand rugby teams, including the world champion All Blacks. |
September 14 2012 | Department of Treasury completed its fifth sale of AIG common stock, raising approximately $20.7 billion and reducing its ownership stake from 53% to approximately 15.9%. |
September 6 2012 | AIG sold $2 billion of its investment in AIA to repay government loans and approved a $5 billion stock repurchase of government-owned shares in AIA. |
May 7 2012 | United States Department of the Treasury announced an offering of 188.5 million AIG shares, totaling $5.8 billion, reducing Treasury's stake in AIG from 70% to 61%. |
March 2012 | AIG sold all of its shares in the Blackstone Group, ending a 14-year investment relationship that began in 1998. |
2011 | Hank Greenberg, with lead lawyer David Boies, independently sued the U.S. Government for $40 billion in the United States Court of Federal Claims, challenging the terms of AIG's government bailout. |
January 2011 | AIG sells its Taiwanese life insurance company Nan Shan Life to a consortium of buyers for $2.16 billion. |
January 2011 | AIG began repaying its government bailout by selling shares, marking the start of its financial recovery process. |
January 9 2011 | The AIG board announced they would not join Greenberg's lawsuit against the U.S. Government. |
2010 | AIG concluded its shirt sponsorship of Manchester United F.C. after a four-year period that coincided with the club's significant success, including three Premier League titles and a Champions League victory. |
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