QUOTE AND NEWS
Insurance Journal  Sep 27  Comment 
Former American International Group Inc. Chairman Maurice “Hank” Greenberg says he got personally involved in an “insignificant” business deal at the insurance giant 18 years ago to teach some managers a lesson. Now, that deal is part of a...
Insurance Journal  Sep 21  Comment 
AF Group, based in Lansing, Michigan, hired Jeff Kuss as senior vice president and chief claims officer. Kuss will lead a team responsible for claims administration, investigative services, medical management, large loss, subrogation and...
Insurance Journal  Sep 21  Comment 
Zurich Insurance Group AG named James Shea to head a new unit that will combine its global corporate and commercial businesses as part of a company-wide restructuring. Shea, 50, joins from American International Group Inc. where he headed global...
Motley Fool  Sep 20  Comment 
On the hook for its pledge to return $25 billion to shareholders, the company divests its Ascot unit to a Canadian peer.
SeekingAlpha  Sep 19  Comment 
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...




 

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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