AIG is now BMO:American International Group (AIG)

AIG

AIG, the third of the three biggest competitors, dates its roots back to 1919, when Cornelius Vander Starr formed the American Asiatic Underwriters insurance company in Shanghai. Soon, he spread his activities to USA and after successful survival of the Second World War, his business continued to grow.

After a wave of acquisitions in the sixties, in 1967 AIG was formed to become the holding company for the portfolio of a number of various companies. In 1991, AIG completed a $23 billion purchase of American General Corporation - in one of the largest insurance takeovers ever. The company survived the $820 million loss due to September 11 and remains among the world insurance leaders.

AIG is active in more than 130 countries and has 107,000 employees. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Tokyo and Ireland, and it is one of the components of the Dow Jones Industrial Average. It has around 25 principal subsidiaries and among a great variety of insurance policies it also offers financial services like mutual funds, retirement services, banking and loans. It owns the world's largest aircraft leasing company, ILFC. Recently, AIG suffered from the mortgage crisis in the USA, this resulted in a CEO change in June 2008. The new Chief Executive Officer is Robert B. Willumstad.

Sources:

FundingUniverse, Wikipedia, AIG Group



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3 Comments

  1. […] policyholders of AIG and other insurance companies are asking the questions how safe is my life insurance policy? […]

  2. Richard M 04/23/2013 at 9:35 am

    would it be possible to borrow against my term life insurance policy (accidental death ) as I have been paying into it for years . Considering other options as I am not getting any younger

  3. LSM Insurance 04/23/2013 at 9:53 am

    Hi Richard,

    As a rule of thump Accidental Death policies do not have a cash value. Thus there would be no value to borrow against. But to clarify you can call BMO directly at 1.800.387.9855. Regards,

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© LSM Insurance Services Ltd. 1998-2017




Head Office: 2900 John Street Suite #302 Markham, L3R 5G3
Office 1-866-899-4849, 905.248.4849 Fax 905.300.4848


© LSM Insurance Services Ltd. 1998-2017




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