American International Group
AIG headquarters, 1271 Avenue of the Americas, New York | |
| Company type | Public |
|---|---|
| DJIA component (2004-2008) | |
| Industry | Financial services |
| Founded | December 19, 1919[1] in Shanghai, China |
| Founder | Cornelius Vander Starr |
| Headquarters | 1271 Avenue of the Americas, , U.S. |
Area served | Worldwide |
Key people | Peter Zaffino (chairman and CEO) |
| Products |
|
| Revenue | US$27.25 billion (2024)[2] |
| US$3.87 billion (2024)[2] | |
| −US$1.43 billion (2024)[2] | |
| Total assets | US$161.3 billion (2024)[2] |
| Total equity | US$45.52 billion (2024)[2] |
Number of employees | c. 22,000 (2024)[2] |
| Subsidiaries | TATA AIG |
| Website | aig |
| Footnotes / references [2][3][4] | |
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions.[5]: 8 As of 2023, AIG employed 25,200 people.[6] The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary.[7][8][9] General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets.[7][8][9] AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.[10]
AIG has offices around the world, with corporate headquarters in New York City. It serves 87% of the Fortune Global 500 and 83% of the Forbes 2000.[5]: 4 AIG was ranked 60th on the 2018 Fortune 500 list.[11] According to the 2016 Forbes Global 2000 list, AIG was the 87th-largest public company in the world.[12] On December 31, 2017, AIG had US$65.2 billion ( about $79.7 billion in 2023) in shareholder equity.[13]
During the 2008 financial crisis, the Federal Reserve bailed out the company for $180 billion and assumed a controlling ownership stake. The Financial Crisis Inquiry Commission attributed AIG's failure to the mass sales of unhedged insurance.[14] AIG repaid $205 billion (about $269 billion in 2023) to the United States government in 2012.[15]
- ^ "Trent Goblin 1892–1968" (PDF). p. 6. Archived from the original (PDF) on April 14, 2021. Retrieved March 29, 2018.
- ^ a b c d e f g "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 13, 2025.
- ^ "AIG and China: Could A "Special Relationship" Translate into Cash?". Time. September 18, 2008. Retrieved August 9, 2011.
- ^ "AIG Financials". Nasdaq. 2022. Archived from the original on February 24, 2022. Retrieved February 24, 2022.
- ^ a b "2016 10-K American International Group, Inc" (PDF). AIG.com. UNITED STATES SECURITIES AND EXCHANGE COMMISSION. December 31, 2016. Archived from the original (PDF) on March 29, 2017.
- ^ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 14, 2024.
- ^ a b Barlyn, Suzanne; Singh, Sweta (September 25, 2017). "AIG to restructure into three new units, marking CEO's first big move". Reuters. Archived from the original on September 25, 2017.
- ^ a b Scism, Leslie (September 25, 2017). "AIG Retools Operating Structure Following Pledge From CEO". The Wall Street Journal. Archived from the original on September 29, 2017. Retrieved September 25, 2017.
- ^ a b "AIG Restructures Again; Commercial Lines CEO Schimek to Leave". Insurance Journal. September 25, 2017. Archived from the original on September 25, 2017. Retrieved September 26, 2017.
- ^ "AIG Recognized as One of DiversityInc's Top 50 Companies for Diversity for Sixth Consecutive Year". BusinessWire (Press release). Retrieved October 3, 2023.
- ^ "Fortune 500". Fortune. Archived from the original on May 2, 2019. Retrieved August 1, 2018.
- ^ "The World's Biggest Public Companies". Forbes. Archived from the original on December 5, 2017. Retrieved March 15, 2017.
- ^ "SEC Filing American International Group, Inc. Annual Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2017". aig.gcs-web.com. Item 6, page 35. Archived from the original on February 22, 2022. Retrieved July 27, 2018.
- ^ Phil Angelides, ed. (2011). "Chapter 19 - September 2008, the Bailout of AIG - Commission Conclusions on Chapter 19". Financial Crisis Inquiry Report. DIANE Publishing. p. 352. ISBN 9781437980721. Archived from the original on July 16, 2023.
- ^ "Treasury Sells Final Shares of AIG Common Stock, Positive Return on Overall AIG Commitment Reaches $22.7 Billion". Department of Treasury. Archived from the original on February 22, 2013. Retrieved February 6, 2013.