AIG Logo – American International Group, Inc. (AIG) is a global leader in insurance services and financial. Its network spans more than 130 countries. Her clients are individuals, institutions and companies. In the United States AIG is the largest player in the field of commercial and industrial insurance. Listed on the exchanges of New York, Zurich, Paris and Tokyo. On September 17th of 2008, the Federal Reserve bought U.S. American International Group, acquired 79.9% of its assets and granted a loan of 85,000 million dollars to avoid bankruptcy, the largest economic intervention of the Federal Reserve in its 100 year history. Notably, the company sponsored the English football club Manchester United FC.
AIG was founded in 1919 by Cornelius Vander Starr in Shanghai. Soon spans Asia, Europe, Latin America and the Middle East. On the death of its founder and until 2005 is led by Maurice R. Greenberg ( who resigned to inflate AIG’s accounts), replaced by Martin J. Sullivan.
AIG, the U.S. insurer, said it will sell its car insurance unit, 21st Century, its Swiss rival Zurich Financial Services, for U.S. $ 1,900 million. In turn, Zurich 21st Farmers sell its U.S. subsidiary, U.S. $ 1,400 million, creating the third largest personal insurer in the U.S. AIG announced plans to transfer its global unit property insurance and accidents, AIU Holdings, a vehicle of independent constitution and prepare the sale of a minority stake in the company. The aim is to free AIU AIG’s problems. Many of the employees of the financial products unit with responsibility for risk management is still working at AIG and most of them received bonuses in 2008.