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Insurance Industry
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Sample Profile
American International Group (AIG)
www.aig.com
Industry Group Code:
524126
Ranks within this company's industry group:
Sales:
2
Profits:
62
Underwriters- Business
Underwriters - Personal
Other Insurance
Property/Casualty:
Automobile:
Financial Guaranty:
Specialty:
Y
Homeowners:
Y
Title Insurance:
Group Life:
Y
Health:
Worker's Comp.:
Group Health:
Y
Supplemental Health:
Reinsurance:
Life:
Y
Services
Technology
Consulting/Brokers
Labs/Tests:
Software:
Insurance Brokers:
Info./Data Publishing:
Online Services:
Risk Management Svcs.:
Y
Claims Adjusting:
Specialty Tech.:
Safety Consulting:
Worker's Comp. Ther.:
Asset Management:
Y
Specialty Services:
Y
TYPES OF BUSINESS:
Insurance, Direct Property & Casualty
Life Insurance
Commercial Insurance
Property Insurance
BRANDS/DIVISIONS/AFFILIATES:
Chartis Insurance
AeroTurbine
American General Finance, Inc.
International Lease Finance Corporation
CONTACTS: Note:
Officers with more than one job title may be intentionally listed here more than once.
Robert H. Benmosche, CEO
Robert H. Benmosche, Pres.
David L. Herzog, CFO/Exec. VP
Jeffrey J. Hurd, Sr. VP-Human Resources
Michael R. Cowan, Chief Admin. Officer/Sr. VP
Thomas A. Russo, General Counsel/Exec. VP-Legal & Compliance
Peter Juhas, Head-Strategic Planning
Christina Pretto, Sr. VP-Corp. Comm.
Elizabeth A. Werner, VP-Investor Rel.
Robert Gender, Treas./Sr. VP
Sid Sankaran, Sr. VP/Chief Risk Officer
Henri Courpron, CEO-Int'l Lease Finance Corp.
Charlie Shamieh, Sr. VP/Corp. Chief Actuary
Peter D. Hancock, CEO-Chartis
Robert Dickie, COO/Chief Sys. Officer
Robert S. Miller, Chmn.
Monika Machon, VP/Head-Global Asset Mgmt.
Phone:
212-770-7000
Fax:
212-509-9705
Toll-Free:
877-638-4244
Address:
180 Maiden Ln.
New York, NY 10038 US
GROWTH PLANS/SPECIAL FEATURES
American International Group (AIG) is an international insurance organization serving customers in more than 130 countries. Until recently, the firm was one of the largest underwriters of commercial and industrial insurance in the world, as well as a provider of a wide variety of financial services. In recent years, the U.S. government provided a $150 billion bailout of AIG in order to prevent the firm from being forced into bankruptcy. This bailout, in the form of loans at high interest rates and warrants giving the government the right to roughly 92% of the firm's stock, gave the government effective control of the company. AIG is selling off assets as quickly as possible in order to repay the loan. The company hopes to refocus primarily as a U.S. property and casualty company, with foreign general insurance and life insurance operations. AIG’s remaining subsidiaries include International Lease Finance Corporation (ILFC), which leases and remarkets roughly 950 commercial jet aircraft to airlines worldwide; and Chartis, a property casualty and general insurance firm that writes roughly $31.6 billion in net premiums annually, serving over 45 million clients worldwide. In late 2010, the company sold its Asian unit, AIA, to Prudential PLC for $35.5 billion; sold American Life Insurance Company (ALICO) to MetLife, Inc. for $15.5 billion; and sold 80% of American General Finance, Inc. to Fortress Investment Group LLC. In January 2011, AIG agreed to sell agreement to sell its 97.57% ownership of Nan Shan Life Insurance Company, Ltd. to Ruen Chen Investment Holding Co., Ltd.; and ILFC agreed to acquire AeroTurbine from AerCap Holdings N.V. In February 2011, the firm sold AIG Edison Life Insurance Company and AIG Star Life Insurance Co., Ltd. to Prudential Financial, Inc. for $4.8 billion.
FINANCIALS:
Sales and profits are in thousands of dollars-add 000 to get the full amount. Yr. 2010 note: Fiscal 2010 results were not available for all companies at press time.
2010 Sales: $77,301,000
2009 Sales: $75,352,000
2008 Sales: $6,896,000
2007 Sales: $103,632,000
2006 Sales: $113,387,000
2010 Profits: $7,786,000
2009 Profits: ($10,949,000)
2008 Profits: ($96,690,000)
2007 Profits: $6,200,000
2006 Profits: $14,048,000
Stock Ticker:
AFF
Employees:
63000
Fiscal Year Ends:
12/31
SALARIES/BENEFITS:
Pension Plan:
ESOP Stock Plan:
Profit Sharing:
Savings Plan:
Stock Purch. Plan:
Top Exec. Salary:
$3,000,000
Bonus:
Unavailable
Second Exec. Salary:
$1,326,923
Bonus:
$1,080,000
OTHER THOUGHTS:
LOCATIONS: ('Y' = YES)
Apparent Top Female Officers:
8
Hot Spots for Advancement for Women/Minorities:
Y
W
SW
NW
SE
NE
INTER.
Y
Y
Y
Y
Y
Y
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