American International Group
From Wikipedia, the free encyclopedia
| American International Group, Inc. | |
|---|---|
 |
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| Type | Public (NYSE: AIG) (80% owned by U.S. Government) |
| Founded |  1919 in Shanghai |
| Founder | Cornelius Vander Starr |
| Headquarters |  70 Pine Street,New York City, New York |
| Area served | Worldwide |
| Key people | Robert B. Willumstad (Outgoing CEO) Edward M. Liddy (Incoming CEO) |
| Industry | Insurance Financial Services |
| Products | Insurance Annuities mutual funds Financial Products |
| Market cap | US$ 10.08 Billion (As of Sep 16, 2008 close) |
| Revenue | ▼ US$ 110.064 Billion (2007) |
| Operating income | ▼ US$ 8.943 Billion (2007) |
| Net income | ▼ US$ 5.36 Billion (2nd Quarter 2008) |
| Total assets | US$ 1.050 Trillion ( 2nd Quarter 2008) |
| Total equity | ▼ US$ 78.09 Billion (2nd Quarter 2008) |
| Employees | 116,000 (2008) |
| Website | AIG.com |
American International Group, Inc. (AIG) (NYSE: AIG, TYO: 8685, ISEQ: AIN) is a major American insurance corporation based in New York City. The company's UK headquarters are located in London, its Continental Europe operations are based in Paris and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest company in the world. It became part of the Dow Jones Industrial Average on April 8, 2004.
On September 16 2008, the U.S. Federal Reserve Bank announced its plan to lend the insurer $85 billion, U.S. dollars, in exchange for a 79.9% equity stake in the company.[1][2]
AIG announced on the same day that its board accepted the terms of the Federal Reserve Bank's loan offer.[3]
[change] References
- ↑ Fed Readies A.I.G. Loan of $85 Billion for an 80% Stake
- ↑ United States Federal Reserve Board of Governors, Press release: Federal Reserve Board, met with full support of the Treasury Department, authorizes the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG), September 16, 2008
- ↑ "AIG Statement on Announcement by Federal Reserve Board of $85 Billion Secured Revolving Credit Facility: Addresses Liquidity Issues and Policyholder Concerns". American International Group, Inc.. 2008-09-17. http://ir.aigcorporate.com/phoenix.zhtml?c=76115&p=irol-newsArticle&ID=1197918&highlight=. Retrieved 2008-09-16.
