AIG
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American International Group, Inc. (AIG) is a leading international insurance organization serving customers in over 100 countries. AIG companies provide commercial, institutional, and individual customers with property-casualty and life insurance. American International Underwriters (Phils.) started operations in the Philippines in the 1920s and became part of AIG in 2009, with a paid-up capital of 300 million pesos making it one of the largest non-life insurers in the country.
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tatives’ Fina
sored Enterp
Secretary H
AIG), during
timony relat
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it afloat.
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he was rece
the time this
responsibilit
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find itself in
s of dollars i
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-2322
7, 2011
It was
trative
A. All
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by any
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A I G Systemic Risk2 Tcm385 152209
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American International Group (AIG) was once one of the largest insurance companies in the world but suffered a massive downfall due to fraudulent accounting practices. AIG leadership recorded loans as revenue and hid losses in financial statements to inflate profits. This led to an SEC investigation and the firing of the CEO and CFO. The fraud further exposed AIG's poor risk management in areas like credit derivatives, which became insolvent in the financial crisis. The US government was forced to bail out AIG with $182 billion to prevent global economic collapse. The scandal resulted in huge losses for AIG and eroded investor and public trust in the company.
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AIG PPt.
American International Group (AIG) is a major global insurance company founded in 1919 in Shanghai, China. It has operations worldwide and a diverse portfolio that includes insurance, asset management, and real estate holdings. AIG ran into significant financial troubles in 2008 when its credit default swap portfolio incurred large losses, leading to a downgrade in its credit rating. This put pressure on AIG and threatened its solvency.
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American International Group (AIG) is a leading global insurance company founded in 1919. It provides property, casualty, life insurance and retirement products in over 130 countries. AIG has a diverse board and senior management. It aims to grow in higher value businesses and geographies through underwriting excellence, claims best practices, expense discipline and capital management. AIG is also focused on sustainability, entrepreneurship and developing its people.
Crisis communication.ppsx
1. American International Group (AIG) was bailed out by the US government during the 2008 financial crisis after facing bankruptcy from risky bets on mortgage-backed securities.
2. A new study found that AIG executives were wrong to claim the underlying mortgage assets were "money good" or safe long-term investments, as they actually incurred substantial losses.
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World's top 5 insurance companies
The document summarizes the world's top 5 insurance companies by revenue in 3 sentences:
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The document provides an overview of insurance and the operations of insurance companies. It discusses how insurance works by pooling together funds from many individuals to pay for losses, thereby spreading out costs. It describes the key roles of underwriters in assessing risks and ratemakers in setting premium prices. It also discusses how insurance companies invest premium payments to generate revenue and have become major capital suppliers. In summary, the document outlines the basic concepts of insurance, the roles of insurance companies, and how they operate financially.
Aig Is The Risk Systematic
The document discusses the systemic risk posed by AIG and the insurance industry. It states that AIG's vast, global operations spanning insurance and financial services exposes it to correlated risks across multiple sectors. If AIG were to fail, it could trigger further failures and turmoil in U.S. and global markets due to its extensive interconnections. The failure of AIG would also threaten consumer and business confidence worldwide.
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The document discusses the systemic risk posed by AIG and how its failure could impact the US and global economy. It notes that AIG operates in over 140 countries, has over $1 trillion in insurance and financial services businesses, and its failure in 2008 threatened to trigger further failures around the world. The summary concludes that AIG's vast interconnected operations, if allowed to fail, would cause turmoil in the US economy and global markets with potentially catastrophic and unforeseen consequences.
Allstate Strat Bsn Mgt
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Allstate was founded in 1931 and is the second largest personal lines insurer in the US. In 2008, Allstate had $29.4 billion in sales and $134.8 billion in assets, though it lost $1.679 billion that year. Allstate serves customers ranging from individuals to families to business owners through auto, home, and life insurance as well as retirement and investment products. The company is committed to diversity and positive social change.
This case wwritten as situation. Crights reserma.docx
This case w
written as
situation. C
rights reser
may be rep
means—ele
School Fou
AM
E
Services
It was M
Paulson
governm
AIG’s pa
governm
F
efforts in
equity co
over. Reg
the empl
to be prep
A
undoubte
position?
from the
one of th
widespre
at the sam
could the
was prepared J
a basis for cla
Copyright 2
rved. To order
eproduced, sto
ectronic, mech
undation. ◊
MERICAN
Edward Lidd
Subcommit
March 2009,
as CEO an
ment’s bailou
ayment of $
ment had been
or an annua
n restructurin
ompensation
gardless, Lid
oyee bonus
pared.
As he both r
edly conside
? It was unab
U.S. govern
he people mo
ead publicity
me time. Ho
e company e
John Hawkins (
ass discussion r
2011 by the U
r copies, send a
red in a retrie
hanical, photo
N INTERNA
dy was prep
ttee on Capit
just six mo
nd Chairma
t of the insu
$165 million
n injecting b
al salary of
ng the compa
n, it remaine
ddy was now
payments. H
reflected on
ered several
ble to remai
nment as a re
ost responsib
y and heavy
ow could th
nsure it did n
(MBA ’09) and
rather than to
University of V
an e-mail to sal
eval system, u
ocopying, reco
ATIONAL G
aring to add
tal Markets,
onths after L
an of Amer
urance giant.
n in bonuse
illions of do
$1 and no b
any and payi
d to be seen
w in charge o
He was facin
what had h
questions. H
in solvent on
esult. The he
ble for the re
scrutiny rela
his have bee
not end up in
d Luann J. Lyn
illustrate effec
Virginia Darde
[email protected]
used in a spre
ording, or oth
GROUP, IN
dress the U.
Insurance,
Liddy was a
rican Interna
He was bei
es to several
ollars into the
bonus, he h
ing back the
n if it would
of the comp
ng an emotio
happened and
How could a
n its own an
ead of its Fin
ecent financ
ated to the p
n prevented
n a similar s
nch, Professor
ctive or ineffec
en School Fou
sinesspublishin
eadsheet, or tr
erwise—witho
NC.—THE F
.S. House o
and Govern
appointed b
ational Gro
ing asked to
l of its man
e company t
had returned
e governmen
d be worth an
any and had
onal yet pow
d pondered
a company su
nd had recei
nancial Prod
cial crisis. An
payment of m
d? Where did
situation aga
of Business A
ctive handling
undation, Char
ng.com. No pa
ransmitted in a
out the permis
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of Represent
nment-Spons
by Treasury
oup, Inc. (A
provide tes
nagers at th
to help keep
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nt. Although
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d to assume
werful comm
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uch as AIG
ived billions
ducts Group
nd now, it w
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d things go
ain in the futu
UVA-C-
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of an adminis
rlottesville, VA
art of this publi
any form or b
ssion of the D
L CRISIS
tatives’ Fina
sored Enterp
Secretary H
AIG), during
timony relat
he same tim
it afloat.
ement to lea
he was rece
the time this
responsibilit
mittee and ne
ng testimon
find itself in
s of dollars i
had been cit
was the subje
dollars in bon
wrong, and
ure?
-2322
7, 2011
It was
trative
A. All
ication
by any
Darden
ancial
...
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California resident George Argyros Jr. is a proficient business executive with experience in the insurance and financial services industries. Currently, George Argyros Jr. applies his expertise as the president of Elite Financial Group in Newport Beach, California.
An overview of life insurance sector. (1)
This document provides an overview of the life insurance sector in India. It discusses the history and development of life insurance in India, including the establishment of the Life Insurance Corporation of India (LIC) in 1956 and the entry of private players after reforms allowed it in 2000. It summarizes some of the major life insurance companies in India, both public sector (LIC) and private sector (SBI Life Insurance, Tata AIG Life Insurance, Bajaj Allianz Life Insurance). It also discusses the role of the Insurance Regulatory and Development Authority established in 1999 to regulate the insurance industry.
AIG Presentation.pptx
The AIG accounting scandal of the early 2000s involved fraudulent accounting practices by American International Group (AIG) to misrepresent its financial health. AIG worked with General Reinsurance Corporation to create $500 million in sham reinsurance transactions to inflate AIG's loss reserves. This deception allowed AIG to mislead investors, regulators, and policyholders about its profits for five years. When investigations began in 2004, AIG had to pay $1.64 billion in penalties. Due to AIG's systemic importance, it received a government bailout of $85 billion to avoid bankruptcy during the financial crisis.
ALR5199
1) According to a survey by Brand Keys, Allstate was ranked the top life insurance company for customer loyalty and engagement.
2) Factors that contributed to Allstate's success included its long history of over 80 years in business, conservative investment strategies that avoided financial crises, and effective marketing campaigns featuring spokesman Dennis Haysbert.
3) With over 850 life insurance companies operating in the US, Allstate's strong brand recognition and focus on customer satisfaction have helped it become the most preferred insurer.
Insurance co. in pak
The document discusses several insurance companies operating in Pakistan. It provides a list of 36 general insurance companies and details about some of the major players like State Life Insurance Corporation of Pakistan, ACE Insurance, Adamjee Insurance Company Limited, IGI Insurance Limited, EFU General Insurance Ltd and The Pakistan Life and General Insurance Company. It discusses the history, operations, products/services and achievements of these prominent insurance firms in the Pakistani market.
A I G Systemic Risk2 Tcm385 152209
The document discusses the systemic risk posed by an AIG failure and its potential consequences. It summarizes that an AIG failure would:
1) Have devastating impacts on the global economy due to AIG's extensive business operations and interconnections.
2) Potentially trigger a "run on the bank" for AIG's $1.9 trillion in life insurance policies and cause turmoil in credit markets beyond the Lehman fallout.
3) Negatively impact the U.S. government's efforts to stabilize the economy by crushing confidence and increasing borrowing costs.
Aig fraud accounts (1)
American International Group (AIG) was once one of the largest insurance companies in the world but suffered a massive downfall due to fraudulent accounting practices. AIG leadership recorded loans as revenue and hid losses in financial statements to inflate profits. This led to an SEC investigation and the firing of the CEO and CFO. The fraud further exposed AIG's poor risk management in areas like credit derivatives, which became insolvent in the financial crisis. The US government was forced to bail out AIG with $182 billion to prevent global economic collapse. The scandal resulted in huge losses for AIG and eroded investor and public trust in the company.
I-Bytes Insurance Industry
This document brings together a set of latest data points and publicly available information relevant for Insurance. We are very excited to share this content and believe that readers will benefit immensely from this periodic publication immensely.
Allstate Workp Div03
American Heritage Life Insurance is a life insurance company founded in 1956 and based in Jacksonville, Florida that was acquired by Allstate in 1999. It provides voluntary insurance benefits like life insurance, disability insurance, cancer insurance, and accident insurance to over 20,000 employer workplace accounts. American Heritage Life Insurance is rated highly by A.M. Best and Standard & Poor's.
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AIG
- 1. About AIG American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty,life and retirement,and general insurance operations ofAmerican International Group,Inc. AIG Philippines American International Underwriters (Phils.) started its operations wayback in the 1920’s. It was incorporated on May 03, 1928 as a Managing Agent for several American insurance companies. On April 5, 1960, the Philippine American AccidentInsurance Co.Inc. was registered with the Securities & Exchange Commission. In 2009, the company became part of American International Underwriters (AIU), the foreign general insurance segment of American International Group (AIG). In the middle of 2011, we infused additional capital of P300 Million (US$7 million), making us a Philippine-based company with one of the highest paid-up capital in the non-life insurance industry. In addition, we pride ourselves as being dependable, paying a total of P685 million (US$16 million) in claims in 2011. Contact Us Head Office 47/F PBCom Tower 6795 Ayala Ave corner V. A. Rufino Street , Makati City, Metro Manila 1226 Philippines Customer Hotline .:+63 2 878 5400 Trunkline No: +63 2 815 3000 Fax :+63 2 878 5555 General Inquiries: callcenter.phl@aig.com Customer Issues: wecare.phl@aig.com