QUOTE AND NEWS
Reuters  Sep 16  Comment 
* Upon closing of AIG deal, Ascot will continue to operate as a stand-alone business governed by its own board, lead by CEO Andrew Brooks Source text for Eikon: Further company coverage:
MarketWatch  Sep 16  Comment 
American International Group Inc. said Friday it has agreed to sell its stake in Ascot Underwriting Holdings Ltd. and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB), in a deal valued...
newratings.com  Sep 16  Comment 
The Hindu Business Line  Sep 16  Comment 
Partnership will enable cab and auto drivers to avail cashless insurance through Paytm digital wallet
Insurance Journal  Sep 15  Comment 
The state pressed on for more than a decade with civil fraud claims against a 91-year-old former chief executive of insurance company American International Group Inc. as a warning to other executives that wrongdoing won’t go unpunished, a state...
newratings.com  Sep 14  Comment 
NEW YORK CITY (dpa-AFX) - Trial of American International Group Inc's former Chairman Maurice Greenberg began on Tuesday at a state courthouse in Manhattan over accounting fraud committed at the insurance company several years ago. The civil...
Yahoo  Sep 13  Comment 
Opening arguments are set to begin on Tuesday in the trial of former American International Group Inc chairman Maurice "Hank" Greenberg over accounting fraud at the insurance giant some 16 years ago. Greenberg, 91, is facing civil charges of...
Insurance Journal  Sep 12  Comment 
American International Group Inc. would weigh acquisitions to bolster high-priority businesses, even as Chief Executive Officer Peter Hancock exits other units, the head of the company’s commercial insurance operation said. “We are very active...
New York Times  Sep 11  Comment 
Maurice Greenberg, once head of American International Group, and the insurer’s former financial chief face civil charges over transactions in 2000-1.




 

After its excessive risk-taking necessitated a dramatic bailout from the federal government, AIG is finally poised to be returned to common shareholders. Though still a major presence in property-casualty and life insurance, the new AIG will be a smaller insurance organization, having shed a good deal of its global growth potential. AIG has no economic moat, in our opinion, and the onetime insurance leader will have a difficult time returning to its former dominant position. AIG is still one of the largest insurance and financial services firms in the world, even after disposing of its Asian insurance subsidiaries. It operates through a wide range of subsidiaries that provide general insurance, life insurance, and other financial services. The government has started selling its shares in 2011, and ownership will eventually be returned to common equity shareholders.

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