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American International Group Inc (AIG)

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  • Apr. 25, 2012, 2:23 AM
    AIG (AIG) sues Steven Udvar-Hazy, accusing the co-founder and former chief exec of its ILFC aircraft-leasing business of stealing trade secrets and other confidential information for a rival company he now runs. AIG is seeking damages of at least several hundred million dollars. (earlier)
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  • Apr. 18, 2012, 11:13 AM
    The NY Fed asks eight dealers to bid for assets from Maiden Lane III, which, during AIG's (AIG) rescue, unwound CDSs that the company wrote by acquiring the underlying investments that the firm insured for banks. Those invited to the auction include Barclays (BCS), Citigroup (C), Goldman Sachs (GS), Merrill Lynch (BAC), and Morgan Stanley (MS).
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  • Apr. 11, 2012, 7:56 AM
    AIG is getting back into property investing, reversing what had been an effort to downsize what was once a $24B portfolio of trophy properties around the globe. The hot area of multi-family housing appears to top the list of deals the firm is interested in.
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  • Apr. 10, 2012, 7:28 AM
    Wells Fargo upgrades AIG to Outperform from Market Perform and boost its price target on shares to a range of $40-$45 from $27-$30. Analyst John Hall sees the company boosting earnings by becoming an "increasingly active capital manager" after it becomes independent from Uncle Sam. Shares of AIG +1.8% premarket.
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  • Apr. 5, 2012, 6:22 AM
    Following improving market conditions and the success of Maiden Lane II, the NY Fed is considering the sequel - a sale of assets in Maiden Lane III. The vehicle, which owes the Fed $9B, unwound CDSs that AIG (AIG) wrote; during the company's bailout, the facility bought the underlying assets that AIG insured for banks, saving them from losses.
    | 3 Comments
  • Apr. 4, 2012, 2:48 PM
    General Mills (GIS) is the most reputable company in America, according to a study (.pdf) of U.S. consumers conducted by the Reputation Institute. General Mills unseated former top finisher Amazon (AMZN), which fell to #5. KFT, JNJ, and K round out the top 5. AIG and XOM saw major improvements in reputation, while TWC and BAC saw major declines.
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  • Apr. 4, 2012, 8:57 AM
    AIG is raised to Outperform from Market Perform with a new $45 price target from $29 by Bernstein, which sees removal of the overhang on shares via a successful execution of its final asset sales and the government's eventual exit as a shareholder. AIG +0.7% premarket.
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  • Apr. 2, 2012, 4:09 AM
    "We’re now thinking about maybe we should try to find a way to buy the mortgages that we’re insuring," says AIG (AIG) CEO Robert Benmosche, indicating a slow return to risk and innovation for the once-burned insurance giant. Details of the program are still under consideration and wouldn't begin until at least Q4.
    | 7 Comments
  • Mar. 27, 2012, 6:12 AM
    The taxpayer will end up making a profit of $5B-$10B once AIG (AIG) repays the estimated $45B it still owes the government for its bailout, CEO Bob Benmosche told Jim Cramer yesterday. In March alone, the Treasury has gained back over $14.6B of its investment in AIG, including $6B from the sale of shares.
    | 17 Comments
  • Mar. 26, 2012, 2:23 PM
    AIG (AIG +3.1%) could reach $40 as it continues to shed non-core assets and begins a buyback program that should be much bigger than investors are expecting, Deutsche Bank believes. $15B-$20B worth of buybacks over the next year is "achievable... book value per share growth in excess of 30% is possible if shares continue to hover around their current price.”
    | 1 Comment
  • Mar. 22, 2012, 4:56 PM
    American International Group (AIG) says it's made a final $1.5B payment to the U.S. Treasury to retire the Treasury’s interest in AIA Aurora, a special purpose vehicle created to hold ordinary shares of of American International Assurance. The payment was made one year ahead of schedule, and reduces the government's total outstanding exposure more than 75%. Shares +0.6% AH.
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  • Mar. 16, 2012, 8:30 AM
    Banks including Barclays (BCS), Credit Suisse (CS) and Goldman Sachs (GS) are among those interested in buying AIG's complex mortgage-backed assets tied to the insurance company's bailout, WSJ reports. The face value of the assets is reported at $47B and are held by the NY Fed, which acquired the assets as part of AIG's 2008 bailout.
    | 2 Comments
  • Mar. 12, 2012, 2:10 PM
    Four former members of the TARP watchdog panel are urging the Treasury Department to end tax breaks for bailed-out insurer AIG (AIG -0.4%), writing that the tax exemptions have allowed AIG to escape billions of dollars in tax payments since receiving $182B government aid in a taxpayer-financed bailout.
    | 9 Comments
  • Mar. 7, 2012, 4:53 PM
    The Treasury plans to sell $6B of its AIG common stock with AIG planning to purchase as many as half of the shares. Treasury last sold shares in May 2011 for $29, then cutting its stake in the insurer from 92% to 77%. Today's close, $29.45. Shares -1.3% AH.
    | 3 Comments
  • Mar. 6, 2012, 6:30 AM
    Insurers can expect a claims bill of $1B-$2B from the wave of 150 tornadoes that swept fives states in the south and Midwest last week, risk-modeling firm Eqecat said yesterday.
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  • Mar. 6, 2012, 3:41 AM
    AIA Group closes down 8.4% after AIG (AIG) confirms it sold 1.72B shares of the Asian life insurer, slightly more than the 1.7B it had planned, and did so at the bottom of its indicative price range of HK$27.15 to HK$27.50. AIG raised around $6B.
    | 1 Comment
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Company Description
American International Group Inc is a holding company. The Company, through its subsidiaries, provides insurance and related services in the United States and abroad.