Profile: American International Group Inc (AIG)
7 Mar 2014
American International Group, Inc. (AIG), incorporated on June 9, 1967, is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in more than 130 countries. It diverse offerings include 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. During the year ended December 31, 2012, the Chartis segment was renamed AIG Property Casualty and the SunAmerica segment was renamed AIG Life and Retirement.
AIG Property Casualty
The AIG Property Casualty segment is presented 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 Property Casualty includes the results of Fuji Fire & Marine Insurance Company Limited (Fuji), which writes primarily consumer lines in Japan.
AIG Life and Retirement
The AIG Life and Retirement segment is presented as two operating segments: Life Insurance, which focuses on mortality and morbidity based protection products, and Retirement Services, which focuses on investment, retirement savings and income solutions. AIG Life and Retirement offers a suite of products and services to individuals and groups, including term life insurance, universal life insurance, accident and health (A&H) insurance, fixed and variable deferred annuities, fixed payout annuities, mutual funds and financial planning. AIG Life and Retirement offers its products and services through a diverse, multi-channel distribution network that includes banks, national, regional and independent broker-dealers, affiliated financial advisors, independent marketing organizations, independent and career insurance agents, structured settlement brokers, benefit consultants and direct-to-consumer platforms.
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 portfolio 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
180 MAIDEN LANE
NEW YORK NY 10038
Company Web Links
- Fitch Upgrades AIG Senior Debt Ratings to 'BBB+'; Outlook Stable
- Greenberg channels Buffett in post-AIG comeback
- DEALTALK-Greenberg channels Buffett in post-AIG comeback
- UPDATE 2-BofA $8.5 bln deal to go forward; AIG loses bid to delay
- AIG holding BofA $8.5 billion settlement 'hostage,' investors say