American International Group
Insurance Company
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AIG nears $2bn sale of Taiwan unitAIG nears $2bn sale of Taiwan unit By Sundeep Tucker in Hong Kong and Robin Kwong in Taipei Published: October 11 2009 17:18 | Last updated: October 11 2009 17:18 American International Group is on the verge of selling its Taiwanese life... In this article: American International Group, Taiwan, Fitch Ratings, Hong Kong, American International Assurance, and US |
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MarketWatch | November 17, 2009
China Strategic shares jump on Chinatrust deal
...outbid others -- including Chinatrust -- to acquire a 97.57% interest in Nan Shan Life from AIG /quotes/comstock/13*!aig/quotes/nls/aig (AIG 36.10, +0.35, +0.98%) for $2.15 billion. China Strategic shares were rose as much as 11.7% in...
In this article: AIG, Morgan Stanley, Hong Kong, Electric car, The Standard, EasyJet, and Hong Kong Stock Exchange
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FT.com - Companies | October 13, 2009
AIG to sell Taiwanese assurer for $2.15bn
AIG to sell Taiwanese assurer for $2.15bn By Robin Kwong in Taipei and Sundeep Tucker in Hong Kong Published: October 13 2009 04:49 | Last updated: October 13 2009 19:04 American International Group on Tuesday announced its largest...
In this article: Hong Kong, Asia, Taiwan, Taiwan, Acquirer, Morgan Stanley, and Zurich Financial Services
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Chinatrust still looking to buy into Taiwan market
...Financial Holding Co. , which last month lost a bid to acquire American International Group Inc.'s /quotes/comstock/13*!aig/quotes/nls/aig (AIG 34.31, +0.69, +2.05%) Taiwan life-insurer unit, Monday said it would continue to seek opportunities...
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Reuters | May 25, 2009
AIG's Taiwan insurance unit buys $250 mln building
AIG's Taiwan insurance unit buys $250 mln building * AIG's Taiwan insurance unit buys a Taipei building * Closer China ties will likely lift commercial prices Nan Shan Life, American International Group's Taiwan insurance unit, has bought...
In this article: Taiwan, Taipei, Recession, Ma Ying-jeou, China, and Reuters
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Chinatrust denies higher bid for AIG's Nan Shan
Chinatrust denies higher bid for AIG's Nan Shan TAIPEI (MarketWatch) -- Chinatrust Financial Holding Co. didn't raise its bid for Nan Shan Life Insurance Co., American International Group Inc.'s /quotes/comstock/13*!aig/quotes/nls/aig (AIG...
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WSJ.com: Markets | October 13, 2009
AIG Sells Taiwan Unit for $2.15 Billion
...to continue Nan Shan's commitment to its policyholders, agents, and employees, as well as to the people of Taiwan," said Robert Benmosche, AIG's chief executive officer. In acquiring Nan Shan, the Primus Financial consortium has agreed to...
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Description from Wikipedia:
American International Group, Inc. (AIG) (NYSE: AIG), is an American insurance corporation. Its corporate headquarters are located in the American International Building in New York City, but will relocate to San Antonio. The British headquarters office is on Fenchurch Street in London; continental Europe operations are based in La Défense, Paris, and its Asian headquarters office is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was once the 18th-largest public company in the world. It was listed on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008.
AIG suffered from a liquidity crisis when its credit ratings were downgraded below "AA" levels in September 2008. The United States Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet increased collateral obligations consequent to the credit rating downgrade, in exchange for the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. The U.S. government revised the credit facility, and eventually increased the total amount available to as much as $182.5 billion.
AIG subsequently sold a number of its subsidiaries and other assets to pay down loans received, and continues to seek buyers of its assets. In March 2009, AIG faced public outrage and media and political backlash for its retention payments of $165 million. AIG employees faced hate mail and death threats, and multiple websites had sprung up attacking AIG.
- Name:
- American International Group, Inc.
- Type:
- Public (NYSE: AIG)
- Location:
- New York City, New York, U.S.
- Region:
- Worldwide
- Founder:
- Cornelius Vander Starr
- Founded:
- 1919 in Shanghai, China
- Stock Symbol:
- AIG
- Industry:
- Insurance, financial services
- Key People:
- Harvey Golub, Robert Benmosche, David L. Herzog
- Products:
- Insurance annuities, mutual funds
- Revenue:
- US$ 110.064 billion
- Operating Income:
- US$ −106.761 billion
- Net Income:
- US$ −99.289 billion
- Assets:
- US$ 860.418 billion
- Equity:
- US$ 52.710 billion
- No. of Employees:
- 116,000
- Market Cap:
- US$ 941.76 million
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