QUOTE AND NEWS
Yahoo  Mar 24  Comment 
American International Group Inc (AIG.N) executives have been meeting with investors and analysts to build confidence in the insurer and its turnaround plan amid uncertainty over a replacement for outgoing Chief Executive Officer Peter Hancock....
Insurance Journal  Mar 23  Comment 
AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched a nationwide search to find Singapore’s best drivers with “AIG On the Go,” a telematics-based smartphone application. “AIG On the Go” scores drivers’ performance every...
Insurance Journal  Mar 21  Comment 
Peter Hancock is getting $5 million in cash to stay on as American International Group’s chief executive officer while the board searches for his replacement. But the insurer’s departing president and CEO will forgo his bonus, according to...
Financial Times  Mar 18  Comment 
Payment to Peter Hancock contingent on him staying until successor is found
Insurance Journal  Mar 15  Comment 
Ireland has complained to the European Commission that it is being undercut by rival centers competing to host financial firms looking for a European Union base outside London after Brexit. Last week, U.S. insurer AIG became the biggest group so...
Insurance Journal  Mar 15  Comment 
American International Group Inc.’s decision to remove Peter Hancock as its chief executive was to avoid a proxy battle with billionaire activist investor Carl Icahn, the Wall Street Journal reported, citing people familiar with the matter. AIG...
Yahoo  Mar 14  Comment 
Hancock agreed to resign after several directors met with him to express concerns about his ability to continue improving AIG's results, while several also feared a potential fight with Icahn, the Journal reported. Icahn, AIG's fourth-largest...
Benzinga  Mar 13  Comment 
Deutsche Bank downgraded shares of American International Group Inc. (NYSE: AIG) from Hold to Sell on in the wake of CEO Peter Hancock’s resignation. Deutsche called Hancock’s resignation — which came mid-board meeting last Wednesday,...




 

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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