American International Group
American multinational finance and insurance corporation / From Wikipedia, the free encyclopedia
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.[7][8][9] General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets.[7][8][9] AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.[10]
Company type | Public |
---|---|
Industry | Financial services |
Founded | December 19, 1919; 104 years ago (1919-12-19)[1] in Shanghai, China |
Founder | Cornelius Vander Starr |
Headquarters | 1271 Avenue of the Americas, , U.S. |
Area served | Worldwide |
Key people | Peter Zaffino (chairman and CEO) |
Products | |
Revenue | US$46.80 billion (2023)[2] |
US$3.858 billion (2023)[2] | |
US$3.614 billion (2023)[2] | |
AUM | US$365 billion (March 31, 2023)[3] |
Total assets | US$539.3 billion (2023)[2] |
Total equity | US$45.35 billion (2023)[2] |
Number of employees | c. 25,200 (2023)[2] |
Subsidiaries | TATA AIG |
Website | aig |
Footnotes / references [2][4][5] |
AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000.[11] AIG was ranked 60th on the 2018 Fortune 500 list.[12] According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world.[13] On December 31, 2017, AIG had $65.2 billion (~$79.7 billion in 2023) in shareholder equity.[14]
During the financial crisis of 2007–2008, the Federal Reserve bailed the company out for $180 billion and assumed controlling ownership stake, with the Financial Crisis Inquiry Commission correlating AIG's failure with the mass sales of unhedged insurance.[15] AIG repaid $205 billion (~$269 billion in 2023) to the United States government in 2012.[16]