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Zaffino heads AIG 200, a multi-year, company-wide operational overhaul and modernization plan announced in 2019. The name "AIG 200" refers to the second 100 years for AIG, which was founded in 1919. Under Zaffino, the program aims to improve AIG's infrastructure, operational processes, efficiency and expense ratio .
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. [6] As of 2023, AIG employed 25,200 people. [2] The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary.
However, on 2 March 2010, Prudential PLC, a UK-based financial services and securities company, announced that it would buy AIA for US$35.5 billion. [6] The purchase later fell through, and AIA held an IPO in October 2010, raising approximately HK$159.08 billion (US$20.51 billion), which at the time was the world's third largest IPO ever [ 7 ...
At the age of 26 in 1973, shortly after completing his military service, Duperreault was hired at AIG as an actuary. [12] [10] AIG at the time was a midsize property-casualty insurer, and was in the early stages of its transformation by CEO Maurice R. "Hank" Greenberg into one of the world's largest financial-services firms.
The Holdings of American International Group include the operating entities and subsidiaries of insurance conglomerate American International Group (AIG) that operates in over 130 countries. [1] The company's business consists of four core areas: General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management. [2]
He then oversaw all international property-casualty operations from AIG's New York offices. [4] Greenberg was named president and COO in 1997 and was considered the heir apparent to take over as CEO of AIG. [2] [1] Despite Greenberg being in line to take over the company, he left his position as president in September 2000. [6]
Sullivan's severance package payments were withheld by AIG after the then Attorney General of New York, Andrew Cuomo, raised issues. [7] According to USA Today, "AIG CEO Martin Sullivan received $25.4 million in non severance related compensation between 2005 and 2007, including $322,000 for private use of corporate aircraft, $153,000 for car and parking, $160,000 for home security and $41,000 ...
The market value of the 79.9% of AIG common stock the government acquired on the day the government agreed to loan AIG up to $85 billion was $55.4 billion. By the end of 2012, AIG had repaid all of its loans and the government had made a $17.7 billion profit on the AIG equity it had acquired as a result, plus $6.7 billion in interests and fees ...