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Victor J. Blue — Bloomberg via Getty Images

150

AIG

AIG

U.S.

AIG’s C-suite faced a reckoning at the end of 2015 when four top executives, including CFO David Herzog, were jettisoned in a management shakeup. The ousting highlights the brewing tensions between the firm and its investors, including activist Carl Icahn, and the company’s desire to make big changes to mollify shareholders. The struggles may not be ending anytime soon. AIG announced in May that it had missed profit estimates for a third consecutive quarter, with per-share earnings 35% off consensus estimates. Part of the battering came from continued exposure to hedge funds, which have been severely under-performing as of late. That’s led AIG to announce it’s pulling about 40% of the money it has allocated to hedge funds (about $4 billion). The question now is, what will be the firm’s end game as it stares down both activist investors like Icahn, who now owns about a 4% stake in the company and has called for AIG to split up into three entities, and the U.S. government, which has deemed it a “systematically important financial institution” (or “too big to fail”). AIG CEO Peter Hancock has taken solace in a recent federal court ruling that MetLife shouldn’t be labeled TBTF.

CEO

Peter D. Hancock

Sector

Financials

Industry

Insurance: Property and Casualty (Stock)

HQ Location

New York, NY

Employees

66,400

Years on Global 500 List

21

Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$58,327-9.4%
Profits ($M)$2,196-70.8%
Assets ($M)$496,943
Total Stockholder Equity ($M)$89,658
Profit Ratios
Profit as % of Revenues3.8%
Profits as % of Assets0.4%
Profits as % of Stockholder Equity2.4%
STOCK QUOTE
()0.00 0.00 (0)
  • Previous Close:
  • Market Cap: NaNB
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  • 52 Week Change %: 0.00
  • P/E Ratio: n/a
  • EPS:
  • Dividend Yield: n/a

News about AIG

It’s Time to Just Kill the Volcker Rule

It has been an enormous waste of time and energy.

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Commentary: How the CFPB Fight Is a Sign of the Next Financial Crisis

A Trump ally and Obama holdover are vying to be director.

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New AIG COO Promised a $15 Million Sign-On Bonus

AIG named Peter Zaffino to take over global operations in Asia, Europe, and the US.

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Videos about AIG

Behind the Scenes at AIG

Former CEO Bob Benomosche’s posthumous book details the drama.

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AIG bailout trial begins

A federal court is evaluating the legality of the U.S. government’s 2008 bailout of insurance giant American International Group.

Read More →