Even to this day American International Group (AIG) is one of the world's largest insurance firms. While it held the spotlight for staggering losses and government bailouts, the company's subsidiaries have steadily provided general property/casualty insurance, life insurance and retirement services, financial services, and residential mortgage guaranty insurance to commercial, institutional, and individual customers in the US and more than 130 countries around the world. In exchange for $161.3 billion in bailouts, at one point the US government held more than 90% of AIG. An exit plan of repayments and stock sales gradually shrunk that number. By 2013 the US Treasury had sold all of its AIG shares.

Geographic Reach

AIG and its subsidiaries have more than 400 offices in the US, as well as 600 offices in 75 international countries in the Americas, Europe, Africa, the Middle East, and the Asia/Pacific region. About 70% of AIG's annual revenues come from sales in the domestic market.


AIG companies serves more than 88 million customers, which includes commercial, institutional, and individual customers.

Having crawled its way back from the edge of an abyss, AIG is leaner than before and has nice black ink on its ledgers. After selling off piles of non-core businesses and quietly disposing of some riskier operations, the company has tidied up its remaining subsidiaries into two main divisions: AIG Property Casualty (formerly Chartis) and AIG Life and Retirement (SunAmerica Financial).

The AIG Property Casualty business accounts for about 60% of annual revenues and offers products including workers' compensation, home, auto, travel, accident, and specialty insurance policies. The AIG Property Casualty division serves commercial and individual clients in the US and around the world and has continued to be a solid source of growth for AIG, even during years of financial strife. The smaller AIG Life and Retirement division includes AIG's domestic life insurance and retirement services businesses, including VALIC and American General Life, and The United States Life Insurance Company in the City of New York. The division also offers single and flexible premium deferred fixed annuities and single premium immediate and delayed-income annuities and variable annuities and other income products.

Other operations include the AIG Benefit Solutions unit (which was formed in 2012 when AIG collected all of the workplace benefits products from AIG Property Casualty and American General Life and placed them into a new division). The business operates through two segments: U.S. Employee Benefits (including employer-funded and voluntary products) and U.S. Affinity Benefits (to serve affinity groups).

AIG's United Guaranty Corporation was one of the few mortgage guaranty insurance businesses to survive the subprime mortgage meltdown. With tighter guidelines, the business is now polished up and faces fewer competitors in its domestic and international markets.

Sales and Marketing

The company markets its retail products directly to individual consumers through independent and career insurance agents, retail banks, direct-to-consumer platforms, and national, regional, and independent broker-dealers.

AIG Property Casualty and AIG Life and Retirement distribute their products every way possible -- from specialty brokers, independent agents, financial advisors, banks, direct to the consumer, and through affinity groups. AIG maintains direct sales groups consisting of representatives affiliated with its VALIC and American General subsidiaries. It also operates the AIG Direct distribution group, and it has relationships with 6,000 independent financial advisors, 80,000 financial institution agents, and 1,200 independent marketing organizations (with 143,000 licensed independent agents). It also has access to 135,000 licensed financial professionals, as well as other benefit administrators. It has 2,200 agents and financial advisors in US.

Financial Performance

AIG reported saw a 5% growth in revenues in 2013 due to restated value of prior years revenues as a result of disposition of ILFC Holdings.

After reporting staggering losses in 2008 and 2009, AIG reported profits in 2010 and 2011 followed by 80% decline in 2012 due to weather event-related losses, litigation expenses, and credit facility charges. In 2013 the company saw a net income hike of 164% due to a decline in benefits, claims, and expenses primarily as a result of a drop in policyholder benefits and claims, interest credited to policyholder account balances, and the amortization of deferred policy acquisition costs.

In 2013 AIG's operating cash flow increased by 60% due to higher net income, cash generated by reinsurance assets, and funds held under reinsurance treaties, and a decline in cash used in current and deferred income taxes.


The company focuses on organic growth including enhancing its comprehensive portfolio with superior, differentiated products; leveraging its extensive distribution organization of more than 300,000 financial professionals and expanding its relationships with key distribution partners; and adopting a more customer centric approach.

As it wraps up reorganization efforts, AIG is beginning to move towards growth through organic measures, including the launch of new product offerings and distribution channels in its core operating segments. The company's primary goals for the Life and Retirement segment include growth of assets under management, increasing life insurance in-force, and enhancing return on equity by simplifying the legal entity structure and improving operational efficiencies. Within the AIG Property Casualty division, goals include shifting the business mix to high-value lines, balancing risk to improve loss ratios, enhancing claims and analysis tools, and controlling operational expenses.

The company has divested nearly all of its non-insurance operations. AIG formed a new subsidiary, ILFC Holdings through which it planned to conduct an IPO of the last major non-insurance holding, aircraft leasing business International Lease Finance Corporation (ILFC). However in 2014 the company sold ILFC to AerCap Ireland Limited, a wholly owned subsidiary of AerCap for $7.6 billion.

In 2014 American General Life Insurance Company partnered with Market Synergy Group to offer enhanced index annuity solutions.

In 2013 the company entered into multiple reinsurance placements with Tradewynd Re Ltd., which will provide $400 million of indemnity reinsurance protection against US., Caribbean and Gulf of Mexico named storms, and US and Canadian earthquakes.

- Show Less + Show Full Description

Internship Programs

Company News and Press Releases

- Show Less + Show More News and Press Releases


175 Water St
New York, NY 10038-4969
Phone: 1 (212) 770-7000


  • Employer Type: Public
  • Stock Symbol: AIG/WS, AIG
  • Stock Exchange: NYSE, NYSE
  • President and CEO: Peter D. Hancock
  • EVP and CFO: David L. Herzog
  • Chairman: Robert S. Miller

Major Office Locations

  • New York, NY

Become a Vault Basic Member

Complete your Vault Profile and get seen by top employers