Profile: American International Group Inc (AIG)
27 Mar 2015
American International Group, Inc. (AIG), incorporated on June 9, 1967, is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. It offers products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. It earns revenues primarily from insurance premiums, policy fees from universal life insurance and investment products, and income from investments. AIG companies serve commercial, institutional and individual customers through worldwide property-casualty networks of any insurer. In addition, AIG companies are providers of life insurance and retirement services in the United States. Its segments include AIG Property Casualty and AIG Life and Retirement.
AIG Property Casualty
The AIG Property Casualty segment operates as two operating segments: Commercial Insurance and Consumer Insurance in addition to an AIG Property Casualty Other category. Its property and casualty operations are conducted through multiple-line companies writing substantially all commercial and consumer lines both domestically and abroad. AIG Property Casualty offers its products through a diverse, multi-channel distribution network that includes agents, wholesalers, global and local brokers, and direct-to-consumer platforms.
AIG Life and Retirement
The AIG Life and Retirement segment operates as two operating segments: Retail and Institutional. Retail segment consists of product lines that include Life Insurance and Accident and Health (A&H), Fixed Annuities, Retirement Income Solutions (including variable and index annuities), Brokerage Services and Retail Mutual Funds. Institutional segment consists of product lines that include Group Retirement, Group Benefits and Institutional Markets. The Institutional Markets product line consists of stable value wrap products, structured settlement and terminal funding annuities, high net worth products, guaranteed investment contracts (GICs) and corporate and bank owned life insurance.
Its other operations include results from mortgage guaranty operations; global capital markets operations; direct investment book results; retained interests; corporate and other operations, and divested businesses. Global capital markets (GCM) consist of the operations of AIG Markets, Inc. (AIG Markets) and the remaining derivatives portfolio of AIG Financial Products Corp. and AIG Trading Group Inc. and their respective subsidiaries (collectively AIGFP). AIG Markets acts as the derivatives intermediary between AIG and its subsidiaries and third parties to provide hedging services. Direct investment book (DIB) consists of a range of assets and liabilities held directly by AIG Parent in the Matched Investment Program (MIP) and certain subsidiaries not related to AIG's core insurance operations, including certain non-derivative assets and liabilities of AIGFP.
American International Group Inc
175 Water St
NEW YORK NY 10038-4918