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AIG OKs $7M pay package for new CEO
American International Group Inc. on Tuesday said it will go ahead with a previously announced pay package for its new CEO Robert Benmosche of $7 million in cash and stock.
AIG wins first round in lawsuit filed by financial planner
A judge in Los Angeles Superior Court pushed back a lawsuit against AIG from a financial planner who once worked for an AIG broker-dealer.
AIG shares plunge on analyst’s report of $11B reserve shortfall
American International Group Inc. shares fell sharply Monday as a Sanford Bernstein analyst reportedly said the embattled insurer doesn't have enough reserves to pay some potential claims.
AIG CEO Robert Benmosche tells employees he plans to remain CEO
American International Group Inc. has released a letter Benmosche sent to employees Wednesday following a Wall Street Journal report that said he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government oversight and cumbersome restrictions on executive pay.
Robert Benmosche’s memo to AIG workers
Earlier today, Robert Benmosche, CEO of AIG, sent a memo to employees at the insurance company addressing speculation about his potential departure. The text of his memo is below:
AIG posts 2nd consecutive quarterly profit
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
Two top financial advisers flee AIG’s Royal Alliance
Two long-established advisers have left Royal Alliance, one of the broker-dealers in the AIG Advisor Group, citing mistrust of management after AIG's top executive elected to hold onto — rather than sell — the broker-dealer network earlier this year.
BofA, AIG and Citigroup execs may be ordered to take pay cuts
The Obama administration plans to order companies that received huge U.S. government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision.
Watchdog: Treasury wasn’t prepared for AIG bonuses
The fierce debate over bonuses for bailed-out executives was revived on Capitol Hill Wednesday as a government watchdog explained how some executives nearly brought down the financial system — then pocketed millions.
Pay czar asks AIG not to pay promised bonuses
The Obama administration's pay czar has asked American International Group to withhold some of the millions in bonuses promised to its employees.
Allstate snares AIG exec to lead annuity and life business
Matthew Winter has been named president and chief executive officer of Allstate Financial, Allstate Corp.’s life and annuities…
A frugal affair: AIG holding conference for top advisers for just 30K
American International Group Inc. is again hosting some of the top U.S. financial advisers and says that this time, the gathering at a California resort will cost it just $30,000.
Former Gen Re exec gets probation
A former executive of Berkshire Hathaway's General Re has been sentenced to two years probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million.
Insurer AIG’s shares slide on analyst downgrade
The near-term sale of American International Group Inc.'s assets will leave little value for common equity holders, a Credit Suisse analyst said Tuesday,
Ex-AIG adviser who practiced voodoo on victims gets 12 years for fraud
A Tennessee rep formerly affiliated with AIG Financial Advisors Inc. spent time making voodoo dolls of his victims to ward off their damaging testimony, prosecutors said.
AIG selling asset management unit to Pacific Century Group for $500M
American International Group Inc. says Saturday it has reached a deal to sell a portion of its asset management business to a Hong Kong-based investment firm for $500 million.
Bonus plan stirs pot at AIG’s adviser unit
AIG Advisor Group Inc.'s move to dole out retention bonuses to assuage the 6,000 or so brokers who have remained loyal through the tumult of the past year appears to be too little, too late, or simply too binding for some advisers.
AIG to hand out retention bonuses disguised as loans to 6,000 reps, advisers
On the heels of American International Group Inc.'s new chief executive Robert Benmosche's backpedaling from incendiary comments he made about New York Attorney General Andrew Cuomo, the AIG Advisor Group — the battered insurer's retail-securities business — is preparing to hand out retention bonuses to its 6,000 reps and investment advisers.
AIG’s CEO Benmosche backtracks on labeling Cuomo’s actions ‘criminal’
AIG Inc. chief executive Robert Benmosche has apologized for saying that New York attorney general Andrew Cuomo's approach to the firm's bonus recipients was “unbelievably wrong,” according to The Wall Street Journal.
AIG agrees to arbitrate disputes with Greenberg
A judge on Monday dealt a setback to American International Group Inc. in its legal fight with former CEO Maurice "Hank" Greenberg, ruling that a company he ran did not improperly seize AIG stock from an executive retirement plan.
