The United Nations General Assembly declared 2008 as the International Year of Planet Earth to increase awareness of the importance of Earth sciences for the advancement of sustainable development.^[1] UNESCO was designated as the lead agency. The Year's activities spanned the three years 2006-2009.^[2]

Goals[edit]

The Year aimed to raise $20 million from industry and governments, of which half was to be spent on co-funding research, and half on "outreach" activities. It was intended to be the biggest ever international effort to promote the Earth sciences.

Apart from researchers, who were expected to benefit under the Year's Science Programme, the principal target groups for the Year's broader messages were:

Decision makers and politicians, to better inform them about the how Earth scientific knowledge can be used for sustainable development
The voting public, to communicate to them how Earth scientific knowledge can contribute to a better society
Geoscientists, to help them use their knowledge of various aspects of the Earth for the benefit of the world’s population.

The research themes of the year, set out in ten science prospectuses, were chosen for their societal relevance, multidisciplinary nature, and outreach potential. The Year had twelve founding partners, 23 associate partners, and was backed politically by 97 countries representing 87% of the world’s population. The Year was promoted politically at UNESCO and at the United Nations in New York by the People’s Republic of Tanzania.

The Year encouraged contributions from researchers within ten separate themes. The outreach programme worked in a similar way, receiving bids for support from individuals and organisations worldwide.

The Year's Project Leader was former IUGS President Professor Eduardo F J de Mulder. The Year's Science Committee was chaired by Professor Edward Derbyshire (Royal Holloway) and its Outreach Committee by Dr Ted Nield (Geological Society of London).

The International Year of Planet Earth project was initiated jointly by the International Union of Geological Sciences (IUGS) and the United Nations Educational Scientific and Cultural Organisation (UNESCO). The UN press release reads: "By a draft on the International Year of Planet Earth, 2008, which the Committee approved without a vote on 11 November, the Assembly would declare 2008 the International Year of Planet Earth. It would also designate the United Nations Educational, Scientific and Cultural Organization (UNESCO) to organize activities to be undertaken during the Year, in collaboration with UNEP and other relevant United Nations bodies, the International Union of Geological Sciences and other Earth sciences societies and groups throughout the world. Also by that draft, the Assembly would encourage Member States, the United Nations system and other actors to use the Year to increase awareness of the importance of Earth sciences in achieving sustainable development and promoting local, national, regional and international action."

Background[edit]

The project was backed by the following founding partners:

International Union of Geodesy and Geophysics (IUGG)
International Geographical Union
International Union of Soil Sciences (IUSS)
International Lithosphere Programme (ILP)
National Geological Survey of the Netherlands (NITG-TNO)
Geological Society of London
International Soil Reference and Information Centre (ISRIC)
A consortium of the International Association for Engineering Geology and the Environment (IAEG)
International Society for Rock Mechanics (ISRM)
International Society of Soil Mechanics and Geotechnical Engineering(ISSMGE)
International Union for Quaternary Research (INQUA)
American Geological Institute (AGI)
American Association of Petroleum Geologists (AAPG)
American Institute of Professional Geologists (AIPG)

The Year was also supported by 23 Associate Partners, including all major international geoscientific and other relevant organisations:

International Council for Science (ICSU)
Intergovernmental Oceanographic Commission of UNESCO (IOC)
International Permafrost Association (IPA)
International Association on the Genesis of Ore Deposits (IAGOD)
Society of Economic Geologists (SEG)
Society for Geology Applied to Mineral Deposits (SGA)
International Association of Hydrogeologists (IAH)
International Geoscience Programme (IGCP)
European Federation of Geoscientists (EFG)
African Association of Remote Sensing of the Environment (AARSE)
Science Council of Asia (SCA)
European Association for the Conservation of the Geological Heritage(ProGEO)
Society for Sedimentary Geology (SEPM)
Coordinating Committee for Geoscience Programmes in East and Southeast Asia (CCOP)
Geological Society of Africa (GSAf)
United Nations University (UNU)
Association of Geoscientists for International Development (AGID)
United Nations International Strategy for Disaster Reduction (UN/ISDR)
North-eastern Science Foundation (USA) (NESF)
Association of American State Geologists (AASG)
International Society of Photogrammetry and Remote Sensing (ISPRS)
Geological Society of America (GSA)
North American Committee for Stratigraphic Nomenclature (NACSN)

Objectives[edit]

The Year's stated objective was to:

Reduce risks for society caused by natural and human-induced hazards, reduce health problems by improving understanding of the medical aspects of Earth science, discover new natural resources and make them available in a sustainable manner, build safer structures and expand urban areas, utilizing natural subsurface conditions, determine the non-human factor in climatic change, enhance understanding of the occurrence of natural resources so as to contribute to efforts to reduce political tension, detect deep and poorly accessible groundwater resources, improve understanding of the evolution of life, increase interest in the Earth sciences in society at large, encourage more young people to study Earth science in university.

Themes[edit]

Research themes for the Year included:

Groundwater: reservoir for a thirsty planet?
Hazards: minimizing risk, maximizing awareness
Earth and Health: building a safer environment
Climate change: the ‘stone tape’
Resource Issues: towards sustainable use
Megacities: going deeper, building safer
Deep Earth: from crust to core
Ocean: abyss of time
Soil: Earth’s living skin
Earth and Life: origins of diversity

Output and Legacy[edit]

As part of the IYPE legacy, 80 National and Regional IYPE Committees were set up to bring together key figures from various organisations into a single campaign dedicated to raising awareness of the Earth sciences among decision makers and the public.

The Young Earth-Science Initiative (YES) was also created, providing a platform for young professionals in the Earth sciences. Initiated by two Italian geoscientists, David Govoni and Luca Micucci, it started in 2007 and grew rapidly at the Global Launch Event of the IYPE in Paris in 2008, during which many young geoscientists were invited to participate. From there, the YES Initiative expanded, eventually adopting a formal structure, a network of supporting organisations (including IYPE) and an invitation by the Chinese government to host the first International YES Conference in October 2009 in Beijing.

An international collaborative project known as OneGeology was launched, aiming to bring together geological data from all nations into a digital database and thus transform them into a single computer language, providing free access to the online digital geological world map in the scale of 1:1 million. That initiative, spearheaded by Ian Jackson of the British Geological Survey, came under the IYPE banner in 2007.

American International Group

American International Group, Inc.
Type	Public
Traded as	NYSE: AIG; S&P 100 Component; S&P 500 Component
Industry	Insurance; Financial services
Founded	1919; 98 years ago; Shanghai, China
Founder	Cornelius Vander Starr
Headquarters	New York City, New York, United States
Area served	Worldwide
Key people	Douglas Steenland (Non-executive Chairman) Brian Duperreault; (President & CEO)
Products	Insurance, Property Casualty: Commercial & Consumer, Life & Retirement, Mortgage Insurance
Revenue	US$ 52.4 billion (2016)
Operating income	US$ 74 million (2016)
Net income	US$ 349 million (2016)
Total assets	US$ 498.3 billion (2016)
Total equity	US$ 76.9 billion (2016)
Number of employees	Approximately 56,400 (2016)
Website	www.aig.com

From Wikipedia, the free encyclopedia

American International Group, Inc., also known as AIG, is an American multinational insurance corporation with operations in more than 80 countries and jurisdictions. As of December 31, 2016, AIG companies employed 56,400 people.^[5] The company operates through three core businesses: Consumer Insurance (49% of 2016 revenues), Commercial Insurance (43% of 2016 revenues), and Other Operations (8% of 2016 revenues).^[6] Commercial Insurance includes Liability and Financial Lines and Property and Speciality Risks. Consumer Insurance includes Individual Retirement, Group Retirement, Life Insurance, and Personal Insurance. Other Operations includes run off insurance lines and legacy investments.^[6]

AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000.^[7] AIG was ranked 49th on the 2016 Fortune 500 list.^[8]According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world.^[9] On December 31, 2016 AIG had $76.3 billion in shareholder equity.^[10]

AIG was a central player in the financial crisis of 2008. It was bailed out by the federal government for $180 billion, and the government took control. The Financial Crisis Inquiry Commission (FCIC) of the US government concluded AIG failed primarily because it sold massive amounts of insurance without hedging its investment. Its enormous sales of credit default swaps were made without putting up initial collateral, setting aside capital reserves, or hedging its exposure — a profound failure in corporate governance, particularly its risk-management practices."^[11]

History[edit]

North China Daily News Building on the Bund, Shanghai (elevation): the original home of what became AIG; now the AIA building.

70 Pine Street was known as the American International Building.

The early years: 1919 to 1945[edit]

AIG traces its roots back to 1919, when American Cornelius Vander Starr (1892-1968) established a general insurance agency, American Asiatic Underwriters (AAU), in Shanghai, China.^[12] Business grew rapidly, and two years later, Starr formed a life insurance operation.^[13] By the late 1920s, AAU had branches throughout China and Southeast Asia, including the Philippines, Indonesia, and Malaysia.^[14] In 1926, Mr. Starr opened his first office in the United States, American International Underwriters Corporation (AIU).^[15] He also focused on opportunities in Latin America and, in the late 1930s, AIU entered Havana, Cuba.^[16] The steady growth of the Latin American agencies proved significant as it would offset the decline in business from Asia due to the impending World War II.^[12] In 1939, Mr. Starr moved his headquarters from Shanghai, China, to New York City.^[17]^[18]

International and domestic expansion: 1946 to 1959[edit]

After World War II, American International Underwriters (AIU) entered Japan^[12] and Germany,^[19] to provide insurance for American military personnel. Throughout the late 1940s and early 1950s, AIU continued to expand in Europe, with offices opening in France, Italy,^[14]and the United Kingdom.^[20] In 1952, Mr. Starr began to focus on the American market by acquiring Globe & Rutgers Fire Insurance Company and its subsidiary, American Home Fire Assurance Company.^[21] By the end of the decade, C.V. Starr's general and life insurance organization included an extensive network of agents and offices in over 75 countries.^[21]

Reorganization and specialization: 1960 to 1979[edit]

In 1960, C.V. Starr hired Maurice R. Greenberg to develop an international accident and health business.^[22] Two years later, Mr. Greenberg reorganized one of C.V. Starr’s U.S. holdings into a successful multiple line carrier.^[21] Greenberg focused on selling insurance through independent brokers rather than agents to eliminate agent salaries. Using brokers, AIU could price insurance according to its potential return even if it suffered decreased sales of certain products for great lengths of time with very little extra expense. In 1967, American International Group, Inc. (AIG) was incorporated as a unifying umbrella organization for most of C.V. Starr’s general and life insurance businesses.^[23] In 1968, Starr named Greenberg his successor. The company went public in 1969.^[24]

AIG Headquarters in New York

The 1970s presented many challenges for AIG as operations in the Middle East and Southeast Asia were curtailed or ceased altogether due to the changing political landscape. However, AIG continued to expand its markets by introducing specialized energy, transportation, and shipping products to serve the needs of niche industries.^[25] By 1979, with a growing workforce and a worldwide network of offices, AIG offered clients superior technical and risk management skills in an increasingly competitive marketplace.^[25]

New opportunities and directions: 1980 to 1999[edit]

During the 1980s, AIG continued expanding its market distribution and worldwide network by offering a wide range of specialized products, including pollution liability^[25] and political risk.^[25] In 1984, AIG listed its shares on the New York Stock Exchange (NYSE).^[26] Throughout the 1990s, AIG developed new sources of income through diverse investments, including the acquisition of International Lease Finance Corporation (ILFC), a provider of leased aircraft to the airline industry.^[12] In 1992, AIG received the first foreign insurance license granted in over 40 years by the Chinese government. Within the U.S., AIG acquired SunAmerica Inc. a retirement savings company, in 1999.^[27]

Further expansion and decline: 2000 to 2012[edit]

The AIG Headquarter Building of Woodland Hills, Los Angeles.

Growth[edit]

The early 2000s saw a marked period of growth as AIG acquired American General Corporation, a leading domestic life insurance and annuities provider,^[28] and AIG entered new markets including India.^[29] In February 2000, AIG created a strategic advisory venture team with the Blackstone Group and Kissinger Associates "to provide financial advisory services to corporations seeking high level independent strategic advice."^[30] AIG was an investor in Blackstone from 1998 to March 2012, when it sold all of its shares in the company. Blackstone acted as an adviser for AIG during the 2007-2008 financial crisis.^[31]

In November 2004, AIG reached a US$126 million settlement with the U.S. Securities and Exchange Commission and the Justice Department partly resolving a number of regulatory matters, but the company must still cooperate with investigators continuing to probe the sale of a non-traditional insurance product.^[32]

Accounting scandal[edit]

In 2005, AIG became embroiled in a series of fraud investigations conducted by the Securities and Exchange Commission, U.S. Justice Department, and New York State Attorney General's Office. Greenberg was ousted amid an accounting scandal in February 2005.^[33]^[34]^[35] The New York Attorney General's investigation led to a $1.6 billion fine for AIG and criminal charges for some of its executives.^[36]

On May 1, 2005, investigations conducted by outside counsel at the request of AIG's Audit Committee and the consultation with AIG's independent auditors, PricewaterhouseCoopers LLP resulted in AIG's decision to restate its financial statements for the years ended December 31, 2003, 2002, 2001 and 2000, the quarters ended March 31, June 30 and September 30, 2004 and 2003 and the quarter ended December 31, 2003.^[37] On November 9, 2005, the company was said to have delayed its third-quarter earnings report because it had to restate earlier financial results, to correct accounting errors.^[38]

Expansion to the credit default insurance market[edit]

Martin J. Sullivan became CEO of the company in 2005. He began his career at AIG as a clerk in its London office in 1970.^[39] AIG then took on tens of billions of dollars of risk associated with mortgages. It insured tens of billions of dollars of derivatives against default, but did not purchase reinsurance to hedge that risk. Secondly, it used collateral on deposit to buy mortgage-backed securities. When losses hit the mortgage market in 2007-2008, AIG had to pay out insurance claims and also replace the losses in its collateral accounts.^[40]

AIG purchased the remaining 39% that it did not own of online auto insurance specialist 21st Century Insurance in 2007 for $749 million.^[41] With the failure of the parent company and the continuing recession in late 2008, AIG rebranded its insurance unit to 21st Century Insurance.^[42]^[43]

On June 11, 2008, three stockholders, collectively owning 4% of the outstanding stock of AIG, delivered a letter to the Board of Directors of AIG seeking to oust CEO Martin Sullivan and make certain other management and Board of Directors changes. This letter was the latest volley in what The Wall Street Journal called a "public spat" between the company's board and management, on the one hand, and its key stockholders, and former CEO Maurice Greenberg on the other hand.^[44]

On June 15, 2008, after disclosure of financial losses and subsequent to a falling stock price, Sullivan resigned and was replaced by Robert B. Willumstad, Chairman of the AIG Board of Directors since 2006. Willumstad was forced by the US government to step down and was replaced by Ed Liddy on September 17, 2008.^[45]AIG's board of directors named Bob Benmosche CEO on August 3, 2009, to replace Mr. Liddy, who earlier in the year announced his retirement.^[46]

Liquidity crisis and government bailout[edit]

AIG faced the most difficult financial crisis in its history when a series of events unfolded in late 2008. AIG was bailed out by the federal government for $180 billion, and the government took control. The Financial Crisis Inquiry Commission (FCIC) made the major government study of the crisis. It concluded in January 2011:

The Commission concludes AIG failed and was rescued by the government primarily because its enormous sales of credit default swaps were made without putting up the initial collateral, setting aside capital reserves, or hedging its exposure – a profound failure in corporate governance, particularly its risk management practices. AIG's failure was possible because of the sweeping deregulation of over-the-counter (OTC) derivatives, including credit default swaps, which effectively eliminated federal and state regulation of these products, including capital and margin requirements that would have lessened the likelihood of AIG's failure.^[11]^[47]^[48]

AIG had sold credit protection through its London unit in the form of credit default swaps (CDSs) on collateralized debt obligations (CDOs) but they had declined in value.^[49]^[50] The AIG Financial Products division, headed by Joseph Cassano, in London, had entered into credit default swaps to insure $441 billion worth of securities originally rated AAA. Of those securities, $57.8 billion were structured debt securities backed by subprime loans.^[49]^[51] As a result, AIG’s credit rating was downgraded and it was required to post additional collateral with its trading counter-parties, leading to a liquidity crisis that began on September 16, 2008, and essentially bankrupted all of AIG. The United States Federal Reserve Bank stepped in, announcing the creation of a secured credit facility of up to US$85 billion to prevent the company's collapse, enabling AIG to deliver additional collateral to its credit default swap trading partners. The credit facility was secured by the stock in AIG-owned subsidiaries in the form of warrants for a 79.9% equity stake in the company and the right to suspend dividends to previously issued common and preferred stock.^[52]^[53]^[54] The AIG board accepted the terms of the Federal Reserve rescue package that same day, making it the largest government bailout of a private company in U.S. history.^[55]^[56]

On March 17, 2009, AIG announced that they were paying $165 million in executive bonuses, prompting the AIG bonus payments controversy. Total bonuses for the financial unit could reach $450 million and bonuses for the entire company could reach $1.2 billion. President Barack Obama, who voted for TARP as a Senator^[57]responded to the planned payments by saying "[I]t's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?"^[58] Politicians on both sides of the Congressional aisle reacted with outrage to the planned bonuses. Political commentators and journalists expressed an equally bipartisan outrage.^{[citation needed]}

Due to the Q3 2011 net loss widening, on November 3, 2011, AIG shares plunged 49 percent year to date. The insurer's board approved a share buyback of as much as $1 billion.^[59]

AIG since September 2008 marketed its assets to pay off its government loans. A global decline in the valuation of insurance businesses, and the weakening financial condition of potential bidders, challenged its efforts.^[60] AIG closed on the sale of its Hartford Steam Boiler unit on March 31, 2009, to Munich Re for $742 million, which was announced December 22, 2008.^[61]^[62] On April 16, 2009, AIG announced plans to sell 21st Century Insurance subsidiary to Farmers Insurance Group for $1.9 billion.^[63] June 10, 2009. AIG sold down its majority ownership of reinsurer Transatlantic Re.^[64] The Wall Street Journal reported on September 7, 2009, that Pacific Century Group had agreed to pay $500 million for a part of American International Group's asset management business, and that they also expected to pay an additional $200 million to AIG in carried interest and other payments linked to future performance of the business.^[65]

AIG agreed in March 2010 to sell its American Life Insurance Co. (ALICO) to MetLife Inc. for $15.5 billion in cash and MetLife stock.^[66] Bloomberg L.P. reported on March 29 that after almost three months of delays, AIG had completed the $500 million sale of a portion of its asset management business, branded PineBridge Investments, to the Asia-based Pacific Century Group.^[67] Fortress Investment Group purchased 80% of the interest in financing company American General Financein August 2010.^[68] AIG in September sold AIG Starr and AIG Edison, two of its Japan-based companies, to Prudential Financial for $4.2 billion in cash and $600 million in assumption of third party AIG debt by Prudential.^[69]^[69] On November 1, AIG announced it has raised $36.71 billion from both the sale of ALICO and its IPO of AIA. Proceeds go specifically to pay off FRB of New York loan.^[70]

In October 2010 the WSJ reported that a family sued AIG for alleged complicity in a 'stranger-originated life insurance' scheme, whereby AIG managers allegedly welcomed people without an insurable interest to take out life insurance policies against others. The case involved JB Carlson and Germaine Tomlinson, and was one of many similar lawsuits in the US at the time.^[71]

It was reported in January 2011, that AIG sold its Taiwanese life insurance company, Nan Shan Life, to a consortium of buyers for $2.16 billion.^[72]

Modern era: 2012 to present[edit]

On May 7, 2012, the United States Department of the Treasury announced an offering of 188.5 million shares of AIG for a total of $5.8 billion. The sale reduced Treasury’s stake in AIG to 61 percent, from 70 percent before the transaction.^[73]

On September 6, 2012, AIG sold $2 billion of its investment in AIA to repay government loans. The board also approved a $5 billion stock repurchase of government-owned shares in AIA.^[74]

On September 14, 2012, the Department of Treasury completed its fifth sale of AIG common stock, with proceeds of approximately $20.7 billion, reducing the Treasury’s ownership stake in AIG to approximately 15.9 percent from 53 percent. Government commitments were fully recovered, and Treasury and the FRBNY to date had received a combined positive return of approximately $15.1 billion.^[75]

On October 12, 2012, AIG announced a five and a half year agreement to sponsor six New Zealand-based rugby teams, including world champion All Blacks. The AIG logo and the Adidas logo, the league’s primary sponsor, will be displayed on the league’s team jerseys.^[76]

The U.S. Department of the Treasury in December 2012 published an itemized list of the loans, stock purchases, special purpose vehicles (SPVs) and other investments engaged in with AIG, the amount AIG paid back and the positive return on the loans and investments to the government.^[77] Treasury said that it and the Federal Reserve Bank of New York provided a total $182.3 billion to AIG, which paid back a total $205 billion, for a total positive return, or profit, to the government of $22.7 billion. In addition, AIG sold off a number of its own assets to raise money to pay back the government.

On December 14, 2012, the Treasury Department sold the last of its AIG stock in its sixth stock stale for a total of approximately $7.6 billion. In total, the Treasury Department realized a gain of more than $22 billion from the sale of AIG common stock and $0.9 billion from the sale of AIG preferred stock.^[78]^[79]

AIG began an advertising campaign on January 1, 2013, called "Thank You America," in which several company employees, including AIG President and CEO Robert Benmosche, talked directly to the camera and offered their thanks for the government assistance.^[80]

In June 2015, Taiwan’s Nan Shan Life Insurance acquired a stake in AIG’s subsidiary in Taiwan for a fee of $158 million.^[81]

In a January 2016 news release, AIG announced plans for an initial public offering of 19.9 percent of United Guaranty Corp., a Greensboro, North Carolina-based provider of mortgage insurance for lenders.^[82]

In 2016, AIG announced a joint venture with Hamilton Insurance Group and Two Sigma Investments to serve as insurance needs for small- to medium-sized enterprises. Industry veteran Brian Duperreault will be the chairman of the new entity, and Richard Friesenhahn, the executive vice president of U.S. casualty lines at AIG, will be CEO.^[83]

In August 2016, AIG announced the sale of United Guaranty, its mortgage-guarantee unit, to Arch Capital Group, a Bermuda-based insurer, for $3.4 billion.^[84]

Bailout litigation[edit]

In January 2013, AIG's board discussed joining a lawsuit against the United States government because the bailout they received was unfair to their investors.^[85]The idea was rejected.^[86] AIG was criticized, however, when news stories soon appeared that it was considering joining a lawsuit brought by AIG shareholders and former CEO Maurice R. Greenberg against the New York Federal Reserve Bank for what the plaintiffs considered unfair terms imposed on AIG by the New York Fed. The AIG board announced on January 9, 2013, that the company would not join the lawsuit, and on January 9, 2013, Bob Benmosche told CNBC’s Maria Bartiromo that it would not be “socially acceptable” for AIG to sue the government, continuing that while people may be angry, "a deal’s a deal."^[87]^[88]

The specific issue was whether the New York Federal Reserve transferred $18 billion in litigation claims on troubled mortgage debt through the Maiden Lane Transactions, entities created by the Fed in 2008, and thus prevented AIG from recouping losses from insured banks. On May 7, 2013, Los Angeles U.S. District Judge, Mariana Pfaelzer, ruled that $7.3 billion of the disputed claims had, in fact, not been assigned. AIG withdrew the case "with prejudice" on May 28, 2013. Praelzer was overseeing a suit between AIG and Bank of America (BAC-US) concerning possible misrepresentations by Merrill Lynch and Countrywide as to the quality of the mortgage portfolio. In signing the order closing the case, U.S. District Judge Lewis Kaplan who also adjudicated the Maiden Lane case, American International Group Inc. et al. v. Maiden Lane II LLC, U.S. District Court, Southern District of New York, No. 13-00951 admonished the Fed saying, "On the face of it" some of its actions "perhaps are unattractive and, indeed, wrongful.”^[89]

After the case was thrown out by the District Court, the United States Court of Appeals for the Second Circuit affirmed, holding that federal common law preempted any Delaware fiduciary duties owed to shareholders.^[90]

Money damages[edit]

Hank Greenberg next had David Boies sue the U.S. Government separately for money damages in the United States Court of Federal Claims, prompting strong criticism.^[91] After hearing thirty-seven days of testimony and requiring appearances by Ben Bernanke, Timothy Geithner and Hank Paulson,^[92] Judge Thomas C. Wheeler ruled that the Federal Reserve responses to the subprime crisis had been illegal.^[93] The court reasoned the AIG bailout had been an illegal exactionbecause the Federal Reserve Act did not authorize the New York Fed to nationalize a corporation by owning its stock.^[94]

However, Judge Wheeler did not award monetary compensation to the plaintiffs ruling that they did not suffer economic damage because "if the government had done nothing, the shareholders would have been left with 100 percent of nothing."^[95] Both parties appealed to the United States Court of Appeals for the Federal Circuit. The New York Fed volunteered an amicus brief arguing that “Apart from an erroneous interpretation of a federal statute, the trial court’s opinion is riddled with material, clearly erroneous findings of fact.”^[96]

Corporate governance[edit]

Board of directors[edit]

Brian Duperreault – President and Chief Executive Officer, American International Group, Inc.
W. Don Cornwell – Former Chairman of the Board and Chief Executive Officer, Granite Broadcasting Corporation
Peter R. Fischer - Former Head of Fixed Income Portfolio Management, Blackrock Inc.
John H. Fitzpatrick – Chairman, Oak Street Management Co., LLC
Christopher S. Lynch – Former Partner, KPMG LLP
Samuel J. Merksamer - Managing Director of Icahn Capital LP
George L. Miles, Jr. – President and Chief Executive Officer, WQED Multimedia
Henry S. Miller – Chairman, Marblegate Asset Management, LLC
Robert S. Miller – Non-Executive Chairman of the Board, American International Group, Inc.
Linda A. Mills - Former Vice President of Operations, Northrop Grumman Corporation
Suzanne Nora Johnson – Former Vice Chairman, The Goldman Sachs Group, Inc.
John Paulson - President and Portfolio Manager of Paulson & Co. Inc
Ronald A. Rittenmeyer – Former Chairman, Chief Executive Officer and President, Electronic Data Systems Corporation
Douglas Steenland – Former President and Chief Executive Officer, Northwest Airlines Corporation
Theresa M. Stone - Former Executive Vice President and Treasurer, Massachusetts Institute of Technology
William G. Jurgensen - Former Chief Executive Officer Nationwide Insurance

As of May 15, 2017^[97]

Business[edit]

NZ All Blacks Mens XV's Shirt

In the United States, AIG is the largest underwriter of commercial and industrial insurance.^[98]

AIG offers property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services.^[99] In the third quarter of 2012, the global property-and-casualty insurance business, Chartis, was renamed AIG Property Casualty. SunAmerica, life-insurance and retirement-services division, was renamed AIG Life and Retirement, other existing brands continue to be used in certain geographies and market segments.^[99]^[100]

Subsidiaries[edit]

References[edit]

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Jump up^ Bowers, Barbara (August 1998). "Building a Global Platform". Best’s Review/Life-Health Edition.
Jump up^ Hoover's Handbook of American Business (9th ed.). Austin, TX: Hoover's Business Press. 1999. p. 134. ISBN 978-1-57311-045-7. Retrieved March 18,2009.
^ Jump up to:^a ^b ^c ^d Cunningham, Lawrence A (2013). The AIG Story. Hoboken, New Jersey: John Wiley & Sons, Inc. pp. 14–15. ISBN 978-1-118-34587-0.
Jump up^ Barreto, Elzio (December 16, 2012). "AIG marks end of era with $6.45 billion AIA stake sale". Reuters. Retrieved March 7, 2013.
Jump up^ "AIG, SunAmerica to Merge on New Year's Day". AMBest. December 30, 1998.
Jump up^ "AIG Closes American General Acquisition". National Underwriter Life & Health. August 30, 2001.
Jump up^ "Tata-AIG to Kick off with IT Products". Business Line Internet Edition. February 11, 2001.
Jump up^ "AMERICAN INTERNATIONAL GROUP, INC., THE BLACKSTONE GROUP L.P. AND KISSINGER ASSOCIATES, INC. ANNOUNCE A NEW STRATEGIC ADVISORY VENTURE".
Jump up^ De La Merced, Michael J. (March 2, 2002). "A.I.G. Sheds Stake in Blackstone". New York Times DealBook.
Jump up^ "AIG Forks Up $126 million to SEC on PNC Deals". Insurance Journal. November 24, 2004. Archived from the original on August 29, 2008. Retrieved September 18, 2008.
Jump up^ "MSNBC". MSNBC. Archived from the original on June 28, 2011. Retrieved July 11, 2011.
Jump up^ Zuill, Lilla (March 3, 2009). "Reuters". Reuters. Retrieved July 11, 2011.
Jump up^ "The Street.com".
Jump up^ "AIG executive sentenced to 4 years in prison". The Seattle Times. Retrieved 2014-05-22.
Jump up^ "AIG Nears Completion of Internal Review; Will Restate Results Provides Update on Internal Review and Timing".
Jump up^ "AIG to Again Restates Previous Results".
Jump up^ Andrews, Edmund L.; de la Merced, Michael J.; Williams Walsh, Mary (September 16, 2008). "Fed's $85 billion Loan Rescues Insurer". The New York Times. Archived from the original on April 30, 2011. Retrieved September 17,2008.
Jump up^ Maurice R. Greenberg and Lawrence A. Cunningham, The AIG Story (2013)
Jump up^ "AIG buys 21st Century Insurance". Los Angeles Times. September 28, 2007.
Jump up^ "AIG rebrand US auto insurance unit 21st Century Insurance, and cut jobs". November 26, 2008. Retrieved Dec 3, 2008.^{[permanent dead link]}
Jump up^ "AIG renaming auto insurance division, cutting jobs". November 26, 2008. Retrieved Dec 3, 2008.^{[permanent dead link]}
Jump up^ "AIG Investors Seek Ouster of Chief Executive Sullivan". Bloomberg. June 11, 2008. Retrieved July 21, 2008.
Jump up^ Zuill, Lilla (December 30, 2008). "Former AIG CEO Willumstad foregoes some stock awards". New York: Thomson Reuters. Retrieved March 18, 2009.
Jump up^ Dennis, Brady (August 3, 2009). "The Washington Post, "AIG Names Robert Benmosche New President and CEO"". The Washington Post. Retrieved July 11,2011.
Jump up^ Jerry M. Rosenberg (2012). The Concise Encyclopedia of The Great Recession 2007-2012. Scarecrow Press. p. 244. ISBN 9780810883406.
Jump up^ Asli Yüksel Mermod; Samuel O. Idowu (2013). Corporate Social Responsibility in the Global Business World. Springer. p. 127. ISBN 9783642376207.
^ Jump up to:^a ^b Morgenson, Gretchen (September 29, 2008). "Behind Insurer's Crisis, Blind Eye to a Web of Risk". The New York Times. Retrieved September 29, 2008.
Jump up^ Ng, Serena, and Mollenkamp, Carrick “Goldman Fueled AIG’s Gambles”, The Wall Street Journal, December 12, 2009
Jump up^ Pittman, Mark (September 29, 2008). "Goldman, Merrill Collect Billions After Fed's AIG Bailout Loans". Bloomberg News. Retrieved October 12, 2008.
Jump up^ Andrews, Edmund L (September 16, 2008). "Fed's $85 billion Loan Rescues Insurer". The New York Times. Retrieved September 28, 2008.
Jump up^ Kaiser, Emily (September 17, 2008). "After AIG rescue, Fed may find more at its door". Reuters. Retrieved September 17, 2008.
Jump up^ "Federal Reserve Board, with full support of the Treasury Department, authorizes the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG)". United States Federal Reserve Board of Governors. Retrieved September 16, 2008.
Jump up^ Schmidt, Krista (April 15, 2009). "History of U.S. Gov't Bailouts". Pro Publica. Retrieved December 28, 2014.
Jump up^ Stein, Jerome (2012). "AIG in the Crisis". Stochastic Optimal Control and the U.S. Financial Debt Crisis. Springer Science & Business Media. p. 99. ISBN 9781461430797. Retrieved 2014-12-29. The AIG liquidity crisis led to the largest government bailout of a private company in US history, totaling $182 billion.
Jump up^ "U.S. Senate vote on Emergency Economic Stabilization Act of 2008". Senate.gov. June 29, 2011. Retrieved July 11, 2011.
Jump up^ "Obama tries to stop AIG bonuses: 'How do they justify this outrage?' - CNN.com". www.cnn.com. Retrieved 2017-04-17.
Jump up^ "AIG Posts Loss on Writedowns Tied to AIA, Mortgage Declines". November 4, 2011.
Jump up^ Bansal, Paritosh (February 24, 2009). "AIG may rethink asset sales in tough markets". Reuters UK. Archived from the original on February 28, 2009. Retrieved March 2, 2009.
Jump up^ Yvette Essen, Insurance Correspondent (December 22, 2008). "Munich Re buys AIG's Hartford Steam Boiler for $742m". Telegraph.co.uk.
Jump up^ "Munich Re concludes purchase of Hartford Steam Boiler" (PDF). Archived from the original (PDF) on October 4, 2011. Retrieved May 13, 2017.
Jump up^ Lifsher, Marc (April 17, 2009). "AIG selling 21st Century Insurance to Farmers Insurance". Los Angeles Times. Retrieved February 6, 2013.
Jump up^ "AIG confirms sale of Transatlantic Re shares". postonline.co.uk.
Jump up^ Carew, Rick (September 7, 2009). "Li Is Back In Game With AIG Purchase". The Wall Street Journal. Retrieved July 11, 2011.
Jump up^ Ellis, Blake (March 8, 2010). "AIG in $15.5 billion unit sale to MetLife". CNNMoney. Retrieved February 6, 2013.
Jump up^ Son, Hugh (March 29, 2010). "AIG Completes Sale of PineBridge Investments to Pacific Century". Bloomberg. Retrieved July 11, 2011.
Jump up^ "Update: American General Finance sold to Fortress Investment Group » Evansville Courier & Press". Courierpress.com. Retrieved 2013-12-16.
^ Jump up to:^a ^b "AIG to sell Star, Edison to Prudential". MarketWatch. Retrieved July 11,2011.
Jump up^ Bernard, Stephen (November 1, 2010). "AIG set to repay $37 billion in bailout money". The Washington Post. Retrieved February 6, 2013.
Jump up^ Judge Allows 'Death Bet' Case, Leslie Scism and Mark Maremont, The Wall Street Journal, 2010 10 5
Jump up^ Wassener, Bettina (January 12, 2011). "A.I.G. to Sell Taiwan Unit for $2.16 Billion". The New York Times. Retrieved February 6, 2013.
Jump up^ Buhayar, Noah (May 7, 2012). "U.S. Treasury Sells $5.8 Billion of AIG Stock". Bloomberg. Retrieved February 6, 2013.
Jump up^ "AIG to sell $2 billion in AIA shares, repay US government". New York Post. September 6, 2012. Retrieved February 6, 2013.
Jump up^ Tara LaCapra, Lauren (September 11, 2012). "Treasury sells big chunk of AIG stock at a profit". Reuters. Retrieved February 6, 2013.
Jump up^ Baynes, Dan (12 October 2012). "AIG Sponsors Jersey of Rugby World Champion All Blacks Team". Bloomberg. Retrieved 27 February 2014.
Jump up^ "Investment in AIG". US Department of Treasury. Retrieved February 5, 2013.
Jump up^ "Investment in AIG". US Department of Treasury. Retrieved February 6, 2013.
Jump up^ "Treasury Sells Final Shares of AIG Common Stock, Positive Return on Overall AIG Commitment Reaches $22.7 Billion". Department of Treasury. Retrieved February 6, 2013.
Jump up^ Irwin, Neil (December 31, 2012). "AIG to America: Thanks, guys!". The Washington Post. Retrieved June 4, 2013.
Jump up^ Emily Chan (11 June 2015). "Nan Shan Life to buy part of AIG's Taiwan unit for $158 mln". Reuters. Retrieved 11 June 2015.
Jump up^ "Corporate giant AIG to begin spinoff of Greensboro's United Guaranty". News & Record. 26 January 2016. Retrieved 24 February 2016.
Jump up^ Basak, Sonali (26 Apr 2016). "AIG to Join Two Sigma, Duperreault in Technology Venture". Bloomberg. Retrieved 7 May 2016.
Jump up^ Scism, Leslie; Lublin, Joann S. (2016-08-16). "AIG Reaches Deal to Sell Mortgage-Insurance Unit to Arch Capital for About $3.4 Billion". The Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-18.
Jump up^ "AIG May Join Suit Over US Bailout". ABC News. January 8, 2013.
Jump up^ "AIG will not join lawsuit against US". BBC News. January 9, 2013.
Jump up^ "AIG says will not join lawsuit against U.S. government". Reuters. Retrieved February 6, 2013.
Jump up^ "As public fumes, AIG says will not sue US over bailout". Reuters. Retrieved February 6, 2013.
Jump up^ Stempel, Jonathan. "AIG drops a lawsuit versus New York Fed related to bailout". Reuters. Retrieved 2013-12-16.
Jump up^ "ABA Case Alert: Starr International Co., Inc. v. Federal Reserve Bank of New York". American Bar Association. Retrieved 5 February 2016.
Jump up^ Zeitlin, Matthew. "John Stewart to Former AIG Chief Hank Greenberg: "Go F*ck Yourself!"". Buzzfeed. Retrieved 5 February 2016.
Jump up^ Scism, Leslie. "Closing Arguments Loom in AIG Bailout Trial". The Wall Street Journal. Retrieved 5 February 2016.
Jump up^ "Google Scholar".
Jump up^ Recent Cases: Court of Federal Claims Holds that Government Acquisition of Equity Share in AIG Effected an Illegal Exaction, 129 Harv. L. Rev. 859 (2016).
Jump up^ Sorkin, Andrew (2015-06-15). "In A.I.G. Case, Surprise Ruling That Could End All Bailouts". The New York Times. The New York Times Company. Retrieved 2015-06-16.
Jump up^ Frankel, Alison (15 December 2015). "Federal Reserve tries to repair damage from AIG bailout case in new brief". Retrieved 5 February 2016.
Jump up^ "Board of Directors". Archived from the original on February 22, 2017. Retrieved May 15, 2017.
Jump up^ "History of American General Life Companies". AIGAG.com. Archived from the original on July 7, 2011. Retrieved July 11, 2011.
^ Jump up to:^a ^b "AIG 2012 Annual Report 10-K" (PDF). American International Group. Retrieved October 14, 2013.
Jump up^ Ng, Serena (June 28, 2012). "AIG Brand Revived". The Wall Street Journal. Retrieved October 14, 2013.
^ Jump up to:^a ^b ^c ^d ^e ^f ^g ^h ⁱ "2016 10-K" (PDF). AIG.com. p. 143. Retrieved 3 March 2017.

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American International Group, Inc., also known as AIG, is an American multinational insurance corporation with operations in more than 80 countries and ...

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[1] Jump up^ "AIG and China: Could A "Special Relationship" Translate into Cash?". Time. September 18, 2008. Retrieved August 9, 2011.

[2] Jump up^ Scism, Leslie (April 16, 2015). "AIG Names Douglas Steenland As Chairman". Retrieved May 13, 2017 – via www.wsj.com.

[3] Jump up^ "Board of Directors - Insurance from AIG in the US". www.aig.com. Archived from the original on February 22, 2017. Retrieved May 15, 2017.

[2016_10-K-4] Jump up to:^a ^b ^c ^d ^e ^f "2016 10-K" (PDF). AIG.com. Retrieved 3 March 2017.

[2016_10-K_p8-5] Jump up^ Cite error: The named reference 2016_10-K_p8 was invoked but never defined (see the help page).

[2016_10-K_p7-6] Jump up to:^a ^b "2016 10-K" (PDF). AIG.com. p. 7. Retrieved 3 March 2017.

[2016_10-K_p4-7] Jump up^ "2016 10-K" (PDF). AIG.com. p. 4. Retrieved 3 March 2017.

[2016_Fortune_500-8] Jump up^ "Fortune 500". Fortune. Retrieved 15 March 2017.

[2016_Forbes_Global-9] Jump up^ "The World’s Biggest Public Companies". Forbes. Retrieved 15 March 2017.

[2016_10-K_p34-10] Jump up^ Cite error: The named reference 2016_10-K_p34 was invoked but never defined (see the help page).

[Phil_Angelides_2011_352-11] Jump up to:^a ^b Phil Angelides (2011). Financial Crisis Inquiry Report. DIANE Publishing. p. 352. ISBN 9781437980721.

[Laing-12] Jump up to:^a ^b ^c ^d Laing, Jonathan R. (July 8, 1991). "Are the Glory Years Over? – Much Slower Growth Seems in the Offing for AIG". Barron's.

[BloomberBusinsssWeek-13] Jump up^ Tracer, Zachary (December 18, 2012). "Benmosche Exits Greenberg Jewel Linked to AIG Founding.". Bloomberg Businessweek. Retrieved February 21,2013.

[AIG_Europe_.E2.80.93_History-14] Jump up to:^a ^b "AIG Europe – History". Marketline. February 18, 2004.

[15] Jump up^ Bandler, James (October 7, 2008). "Hank's Last Stand". Fortune. Retrieved February 21, 2013.

[16] Jump up^ "American International Group Inc (New York Stock Exchange)". Company profile. New York: Thomson Reuters. Archived from the original on February 20, 2009. Retrieved March 18, 2009.

[17] Jump up^ "AIG: What does this US giant do?". BBC News. September 17, 2008. Archived from the original on March 20, 2009. Retrieved March 18, 2009.

[18] Jump up^ "Foreign Office Files for China, 1949–1976". Part 1: Complete Files for 1949: Publisher's Note. Adam Matthew Publications. Archived from the original on October 13, 2008. Retrieved March 18, 2009.

[19] Jump up^ "80 Years of Growth and Diversification; the AIG Story". Business Insurance. April 12, 1999.

[20] Jump up^ Collins, Stuart (May 28, 2003). "Greenberg Hails London Role". Insurance Day.

[Fallen_Giant-21] Jump up to:^a ^b ^c Ehrbar, Al (2006). Fallen Giant The Amazing Story of Hank Greenberg and the History of AIG. Hoboken, New Jersey: John Wiley & Sons, Inc. pp. 82–83 and 91. ISBN 0-471-91696-X.

[22] Jump up^ "Greenberg Joining C.V. Starr & Co. in Development Capacity". Insurance Advocate. December 17, 1960.

[23] Jump up^ Bowers, Barbara (August 1998). "Building a Global Platform". Best’s Review/Life-Health Edition.

[24] Jump up^ Hoover's Handbook of American Business (9th ed.). Austin, TX: Hoover's Business Press. 1999. p. 134. ISBN 978-1-57311-045-7. Retrieved March 18,2009.

[The_AIG_Story-25] Jump up to:^a ^b ^c ^d Cunningham, Lawrence A (2013). The AIG Story. Hoboken, New Jersey: John Wiley & Sons, Inc. pp. 14–15. ISBN 978-1-118-34587-0.

[26] Jump up^ Barreto, Elzio (December 16, 2012). "AIG marks end of era with $6.45 billion AIA stake sale". Reuters. Retrieved March 7, 2013.

[27] Jump up^ "AIG, SunAmerica to Merge on New Year's Day". AMBest. December 30, 1998.

[28] Jump up^ "AIG Closes American General Acquisition". National Underwriter Life & Health. August 30, 2001.

[29] Jump up^ "Tata-AIG to Kick off with IT Products". Business Line Internet Edition. February 11, 2001.

[30] Jump up^ "AMERICAN INTERNATIONAL GROUP, INC., THE BLACKSTONE GROUP L.P. AND KISSINGER ASSOCIATES, INC. ANNOUNCE A NEW STRATEGIC ADVISORY VENTURE".

[31] Jump up^ De La Merced, Michael J. (March 2, 2002). "A.I.G. Sheds Stake in Blackstone". New York Times DealBook.

[32] Jump up^ "AIG Forks Up $126 million to SEC on PNC Deals". Insurance Journal. November 24, 2004. Archived from the original on August 29, 2008. Retrieved September 18, 2008.

[33] Jump up^ "MSNBC". MSNBC. Archived from the original on June 28, 2011. Retrieved July 11, 2011.

[34] Jump up^ Zuill, Lilla (March 3, 2009). "Reuters". Reuters. Retrieved July 11, 2011.

[35] Jump up^ "The Street.com".

[36] Jump up^ "AIG executive sentenced to 4 years in prison". The Seattle Times. Retrieved 2014-05-22.

[37] Jump up^ "AIG Nears Completion of Internal Review; Will Restate Results Provides Update on Internal Review and Timing".

[38] Jump up^ "AIG to Again Restates Previous Results".

[NYT-Andrews-2008-09-16-39] Jump up^ Andrews, Edmund L.; de la Merced, Michael J.; Williams Walsh, Mary (September 16, 2008). "Fed's $85 billion Loan Rescues Insurer". The New York Times. Archived from the original on April 30, 2011. Retrieved September 17,2008.

[40] Jump up^ Maurice R. Greenberg and Lawrence A. Cunningham, The AIG Story (2013)

[41] Jump up^ "AIG buys 21st Century Insurance". Los Angeles Times. September 28, 2007.

[42] Jump up^ "AIG rebrand US auto insurance unit 21st Century Insurance, and cut jobs". November 26, 2008. Retrieved Dec 3, 2008.^{[permanent dead link]}

[43] Jump up^ "AIG renaming auto insurance division, cutting jobs". November 26, 2008. Retrieved Dec 3, 2008.^{[permanent dead link]}

[44] Jump up^ "AIG Investors Seek Ouster of Chief Executive Sullivan". Bloomberg. June 11, 2008. Retrieved July 21, 2008.

[45] Jump up^ Zuill, Lilla (December 30, 2008). "Former AIG CEO Willumstad foregoes some stock awards". New York: Thomson Reuters. Retrieved March 18, 2009.

[46] Jump up^ Dennis, Brady (August 3, 2009). "The Washington Post, "AIG Names Robert Benmosche New President and CEO"". The Washington Post. Retrieved July 11,2011.

[47] Jump up^ Jerry M. Rosenberg (2012). The Concise Encyclopedia of The Great Recession 2007-2012. Scarecrow Press. p. 244. ISBN 9780810883406.

[48] Jump up^ Asli Yüksel Mermod; Samuel O. Idowu (2013). Corporate Social Responsibility in the Global Business World. Springer. p. 127. ISBN 9783642376207.

[New_York_Times-49] Jump up to:^a ^b Morgenson, Gretchen (September 29, 2008). "Behind Insurer's Crisis, Blind Eye to a Web of Risk". The New York Times. Retrieved September 29, 2008.

[50] Jump up^ Ng, Serena, and Mollenkamp, Carrick “Goldman Fueled AIG’s Gambles”, The Wall Street Journal, December 12, 2009

[51] Jump up^ Pittman, Mark (September 29, 2008). "Goldman, Merrill Collect Billions After Fed's AIG Bailout Loans". Bloomberg News. Retrieved October 12, 2008.

[52] Jump up^ Andrews, Edmund L (September 16, 2008). "Fed's $85 billion Loan Rescues Insurer". The New York Times. Retrieved September 28, 2008.

[53] Jump up^ Kaiser, Emily (September 17, 2008). "After AIG rescue, Fed may find more at its door". Reuters. Retrieved September 17, 2008.

[54] Jump up^ "Federal Reserve Board, with full support of the Treasury Department, authorizes the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG)". United States Federal Reserve Board of Governors. Retrieved September 16, 2008.

[55] Jump up^ Schmidt, Krista (April 15, 2009). "History of U.S. Gov't Bailouts". Pro Publica. Retrieved December 28, 2014.

[56] Jump up^ Stein, Jerome (2012). "AIG in the Crisis". Stochastic Optimal Control and the U.S. Financial Debt Crisis. Springer Science & Business Media. p. 99. ISBN 9781461430797. Retrieved 2014-12-29. The AIG liquidity crisis led to the largest government bailout of a private company in US history, totaling $182 billion.

[57] Jump up^ "U.S. Senate vote on Emergency Economic Stabilization Act of 2008". Senate.gov. June 29, 2011. Retrieved July 11, 2011.

[58] Jump up^ "Obama tries to stop AIG bonuses: 'How do they justify this outrage?' - CNN.com". www.cnn.com. Retrieved 2017-04-17.

[59] Jump up^ "AIG Posts Loss on Writedowns Tied to AIA, Mortgage Declines". November 4, 2011.

[60] Jump up^ Bansal, Paritosh (February 24, 2009). "AIG may rethink asset sales in tough markets". Reuters UK. Archived from the original on February 28, 2009. Retrieved March 2, 2009.

[61] Jump up^ Yvette Essen, Insurance Correspondent (December 22, 2008). "Munich Re buys AIG's Hartford Steam Boiler for $742m". Telegraph.co.uk.

[62] Jump up^ "Munich Re concludes purchase of Hartford Steam Boiler" (PDF). Archived from the original (PDF) on October 4, 2011. Retrieved May 13, 2017.

[63] Jump up^ Lifsher, Marc (April 17, 2009). "AIG selling 21st Century Insurance to Farmers Insurance". Los Angeles Times. Retrieved February 6, 2013.

[64] Jump up^ "AIG confirms sale of Transatlantic Re shares". postonline.co.uk.

[65] Jump up^ Carew, Rick (September 7, 2009). "Li Is Back In Game With AIG Purchase". The Wall Street Journal. Retrieved July 11, 2011.

[66] Jump up^ Ellis, Blake (March 8, 2010). "AIG in $15.5 billion unit sale to MetLife". CNNMoney. Retrieved February 6, 2013.

[67] Jump up^ Son, Hugh (March 29, 2010). "AIG Completes Sale of PineBridge Investments to Pacific Century". Bloomberg. Retrieved July 11, 2011.

[68] Jump up^ "Update: American General Finance sold to Fortress Investment Group » Evansville Courier & Press". Courierpress.com. Retrieved 2013-12-16.

[MarketWatch-69] Jump up to:^a ^b "AIG to sell Star, Edison to Prudential". MarketWatch. Retrieved July 11,2011.

[70] Jump up^ Bernard, Stephen (November 1, 2010). "AIG set to repay $37 billion in bailout money". The Washington Post. Retrieved February 6, 2013.

[71] Jump up^ Judge Allows 'Death Bet' Case, Leslie Scism and Mark Maremont, The Wall Street Journal, 2010 10 5

[72] Jump up^ Wassener, Bettina (January 12, 2011). "A.I.G. to Sell Taiwan Unit for $2.16 Billion". The New York Times. Retrieved February 6, 2013.

[73] Jump up^ Buhayar, Noah (May 7, 2012). "U.S. Treasury Sells $5.8 Billion of AIG Stock". Bloomberg. Retrieved February 6, 2013.

[74] Jump up^ "AIG to sell $2 billion in AIA shares, repay US government". New York Post. September 6, 2012. Retrieved February 6, 2013.

[75] Jump up^ Tara LaCapra, Lauren (September 11, 2012). "Treasury sells big chunk of AIG stock at a profit". Reuters. Retrieved February 6, 2013.

[76] Jump up^ Baynes, Dan (12 October 2012). "AIG Sponsors Jersey of Rugby World Champion All Blacks Team". Bloomberg. Retrieved 27 February 2014.

[77] Jump up^ "Investment in AIG". US Department of Treasury. Retrieved February 5, 2013.

[78] Jump up^ "Investment in AIG". US Department of Treasury. Retrieved February 6, 2013.

[79] Jump up^ "Treasury Sells Final Shares of AIG Common Stock, Positive Return on Overall AIG Commitment Reaches $22.7 Billion". Department of Treasury. Retrieved February 6, 2013.

[80] Jump up^ Irwin, Neil (December 31, 2012). "AIG to America: Thanks, guys!". The Washington Post. Retrieved June 4, 2013.

[81] Jump up^ Emily Chan (11 June 2015). "Nan Shan Life to buy part of AIG's Taiwan unit for $158 mln". Reuters. Retrieved 11 June 2015.

[82] Jump up^ "Corporate giant AIG to begin spinoff of Greensboro's United Guaranty". News & Record. 26 January 2016. Retrieved 24 February 2016.

[83] Jump up^ Basak, Sonali (26 Apr 2016). "AIG to Join Two Sigma, Duperreault in Technology Venture". Bloomberg. Retrieved 7 May 2016.

[84] Jump up^ Scism, Leslie; Lublin, Joann S. (2016-08-16). "AIG Reaches Deal to Sell Mortgage-Insurance Unit to Arch Capital for About $3.4 Billion". The Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-18.

[85] Jump up^ "AIG May Join Suit Over US Bailout". ABC News. January 8, 2013.

[86] Jump up^ "AIG will not join lawsuit against US". BBC News. January 9, 2013.

[87] Jump up^ "AIG says will not join lawsuit against U.S. government". Reuters. Retrieved February 6, 2013.

[88] Jump up^ "As public fumes, AIG says will not sue US over bailout". Reuters. Retrieved February 6, 2013.

[89] Jump up^ Stempel, Jonathan. "AIG drops a lawsuit versus New York Fed related to bailout". Reuters. Retrieved 2013-12-16.

[90] Jump up^ "ABA Case Alert: Starr International Co., Inc. v. Federal Reserve Bank of New York". American Bar Association. Retrieved 5 February 2016.

[91] Jump up^ Zeitlin, Matthew. "John Stewart to Former AIG Chief Hank Greenberg: "Go F*ck Yourself!"". Buzzfeed. Retrieved 5 February 2016.

[92] Jump up^ Scism, Leslie. "Closing Arguments Loom in AIG Bailout Trial". The Wall Street Journal. Retrieved 5 February 2016.

[93] Jump up^ "Google Scholar".

[94] Jump up^ Recent Cases: Court of Federal Claims Holds that Government Acquisition of Equity Share in AIG Effected an Illegal Exaction, 129 Harv. L. Rev. 859 (2016).

[95] Jump up^ Sorkin, Andrew (2015-06-15). "In A.I.G. Case, Surprise Ruling That Could End All Bailouts". The New York Times. The New York Times Company. Retrieved 2015-06-16.

[96] Jump up^ Frankel, Alison (15 December 2015). "Federal Reserve tries to repair damage from AIG bailout case in new brief". Retrieved 5 February 2016.

[97] Jump up^ "Board of Directors". Archived from the original on February 22, 2017. Retrieved May 15, 2017.

[98] Jump up^ "History of American General Life Companies". AIGAG.com. Archived from the original on July 7, 2011. Retrieved July 11, 2011.

[AIG_2012_Annual_Report-99] Jump up to:^a ^b "AIG 2012 Annual Report 10-K" (PDF). American International Group. Retrieved October 14, 2013.

[Wall_Street_Journal-100] Jump up^ Ng, Serena (June 28, 2012). "AIG Brand Revived". The Wall Street Journal. Retrieved October 14, 2013.

[sig_subsidiaries-101] Jump up to:^a ^b ^c ^d ^e ^f ^g ^h ⁱ "2016 10-K" (PDF). AIG.com. p. 143. Retrieved 3 March 2017.

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Monday, October 16, 2017

Attention National Geographic for KIDs!! A PEI File Titled Quote International Year of Planet Earth Final Report Unquote!! Now Can You Buy Insurance? Check IT??

[PDF]presskit - International Year of Planet Earth

[PDF]international year of planet earth 2007-2009 - Globalgeopark.org

[PDF]Global Launch Event - Planeta Ziemia

International Year of Planet Earth

Contents

Goals[edit]

Background[edit]

Objectives[edit]

Themes[edit]

Output and Legacy[edit]

American International Group

Contents

History[edit]

The early years: 1919 to 1945[edit]

International and domestic expansion: 1946 to 1959[edit]

Reorganization and specialization: 1960 to 1979[edit]

New opportunities and directions: 1980 to 1999[edit]

Further expansion and decline: 2000 to 2012[edit]

Growth[edit]

Accounting scandal[edit]

Expansion to the credit default insurance market[edit]

Liquidity crisis and government bailout[edit]

Modern era: 2012 to present[edit]

Bailout litigation[edit]

Money damages[edit]

Corporate governance[edit]

Board of directors[edit]

Business[edit]

Subsidiaries[edit]

See also[edit]

References[edit]

Further reading[edit]

External links[edit]

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