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About American International Group, Inc.

Based in the US but with operations reaching around the globe, American International Group (AIG) is one of the world's largest insurance firms. Its subsidiaries provide general property/casualty insurance, life insurance, and retirement and financial services to commercial, institutional, and individual customers in more than 80 countries around the world. General Insurance products account for nearly two-thirds of the group's revenue, and North America accounts for three-quarter of sales. The company traces its roots to 1919, when Cornelius Vander Starr founded American Asiatic Underwriters in Shanghai.


AIG operates through three primary segments: General Insurance, Life and Retirement, and Other Operations.

The General Insurance segment, accounting for nearly two-thirds of AIG's revenue, provides commercial and personal property/casualty insurance. Products include general and professional liability, commercial property, special risks (aerospace, marine, etc.), personal lines (auto, property, high-net worth), and accident and health coverage. Its subsidiaries include National Union, American Home, Lexington, AIG Sonpo, AIG Asia Pacific, and AIG Europe. AIG's Life and Retirement segment, representing about 35% of sales, offers life insurance, retirement, and institutional products, primarily in the US. The division has four sub-segments: Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets. Offerings include variable, index, and fixed annuities; retail mutual funds; group retirement products; and term life and universal life insurance. Among its operating subsidiaries are VALIC, American General Life, and U.S. Life.

The Other Operations segment includes AIG's technology subsidiary Blackboard and various administrative units. This segment accounts the remainder.

The group also has a legacy portfolio of run-off businesses that are noncore to its operations.

Geographic Reach

New York City-based AIG and its subsidiaries have more than 165 offices in the US, as well as more than 340 offices in about 55 other countries in the Americas, Europe, Africa, the Middle East, and the Asia/Pacific region. While its products are sold in more than 80 countries, about three-quarter of AIG's annual revenue comes from sales in the domestic market.

The company's largest segment, General Insurance, is organized into North America (US, Canada, and Bermuda) and international divisions (Japan, the UK, Europe, Asia Pacific, Latin America and Caribbean, Middle East and Africa, and China). The Life and Retirement segment operates in the US with international presence in the UK and Ireland.

Sales and Marketing

AIG distributes its products through specialty brokers, independent agents, financial advisors, banks, direct sales agents, and through affinity groups.

The company serves commercial, institutional, and individual customers, including its millions of Fortune 500 companies.

Financial Performance

AIG's revenue declined in 2015-2018, but recovered in 2019. Net income suffered losses for three year before bouncing back in 2019.

The company's revenue increased by 5% to $49.7 billion in 2019, from $47.4 billion in the prior year. The higher revenue was primarily due to higher net investment income and net realized capital gains of $632 million.

AIG's net income increased by $3.3 billion in 2019, from a net loss of $6 million in the prior year. The drastic change was primarily due to higher revenues and lower operating expenses.

Cash held by the company at the end of 2019 decreased by $63 million to $3.3 billion from $3.4 billion in the prior year. Cash provided by financing activities was $6.4 billion, while cash used for operations and investing activities were $928 million and $5.5 billion, respectively.


The company's priorities for the year 2020 were: Business Mix & Targeted Growth; Underwriting Excellence; AIG 200; Effective Risk Management; and Leadership, Culture and Talent.

Profitable Growth: Deploy capital efficiently to act opportunistically and optimize diversity within the portfolio to grow in profitable lines, geographies and customer segments. Look to inorganic growth opportunities in profitable markets and segments to expand our capabilities and footprint.

Reinsurance Optimization: Strategically partner with reinsurers to reduce exposure to losses arising from frequency of large catastrophic events and the severity from individual risk losses. We strive to optimize our reinsurance program to manage volatility and protect the balance sheet from tail events and unpredictable net losses in support of our profitable growth objectives.

Underwriting Excellence: Empower and increase accountability of the underwriter and continue to integrate underwriting, claims and actuarial to enable better decision making. Focus on enhancing risk selection, driving consistent underwriting best practices and building robust monitoring standards to improve underwriting results.

Company Background

Former ice cream parlor owner Cornelius Vander Starr founded property/casualty insurer American Asiatic Underwriters in Shanghai in 1919, adding life insurance in 1921 and expanding to New York in 1926 (as American International Underwriters). The company relocated its headquarters to the US at the start of WWII in 1939. The firm expanded into Latin America, Japan, and Europe in the 1930s and 1940s, and it added employee benefits and moved into the Middle East and Australia in the 1950s.

American International Group (AIG) was incorporated in Delaware in 1967 and went public in 1969. Major acquisitions include Globe and Rutgers (1952), Sun America (1999), and American General (2001).

AIG held the spotlight for staggering losses and government bailouts during the Great Recession. In exchange for $161.3 billion in bailouts, at one point the US government held more than 90% of the company. An exit plan of repayments and stock sales gradually shrunk that number. By 2013 the US Treasury sold all of its AIG shares.

During its restructuring, AIG sold nearly all of its non-insurance operations (including mortgage insurance unit United Guaranty), as well as certain international insurance businesses, in its efforts to scale down to its core operations. These divestitures fell short of the major breakup for which some shareholders were pushing, but AIG managed to avoid a major split.

American International Group, Inc.

175 Water St Rm 1800
New York, NY 10038-4969
Phone: 1 (212) 770-7000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: AIG
Stock Exchange: , NYSE
President, CEO, and Director: Brian Duperreault
EVP and CFO: Mark D. Lyons
Chairman: Douglas M. Steenland
Employees (This Location): 2,800
Employees (All Locations): 46,000

Major Office Locations

New York, NY

Other Locations

Birmingham, AL
Foley, AL
Huntsville, AL
Mobile, AL
Tuscaloosa, AL
Little Rock, AR
Phoenix, AZ
Tempe, AZ
Aliso Viejo, CA
Bakersfield, CA
Benicia, CA
Coalinga, CA
Daly City, CA
El Cajon, CA
Los Angeles, CA
Mount Shasta, CA
Murrieta, CA
San Diego, CA
San Jose, CA
Victorville, CA
Walnut Creek, CA
Woodland Hills, CA
Berthoud, CO
Centennial, CO
Fort Collins, CO
Greeley, CO
Pueblo, CO
Maitland, FL
Miami, FL
Pensacola, FL
Tampa, FL
Wellington, FL
Alpharetta, GA
Atlanta, GA
Blakely, GA
Carrollton, GA
Fort Oglethorpe, GA
Macon, GA
Washington, GA
Shelley, ID
Bement, IL
Champaign, IL
Glenview, IL
Oak Lawn, IL
O Fallon, IL
Plainfield, IL
Schaumburg, IL
South Holland, IL
Spring Valley, IL
Crown Point, IN
Indianapolis, IN
Seymour, IN
Hugoton, KS
Pittsburg, KS
Wichita, KS
Hazard, KY
Hopkinsville, KY
Paintsville, KY
Pineville, LA
Baltimore, MD
Cumberland, MD
Allen Park, MI
Farmington Hills, MI
Flint, MI
Marquette, MI
Monroe, MI
Warren, MI
Westphalia, MI
East Grand Forks, MN
Forest Lake, MN
Rochester, MN
Worthington, MN
Saint Louis, MO
Springfield, MO
Corinth, MS
Tupelo, MS
Dunn, NC
Statesville, NC
Wilmington, NC
Warren, NH
Berkeley Heights, NJ
Cresskill, NJ
Jersey City, NJ
Moorestown, NJ
Neptune, NJ
Ridgewood, NJ
West Deptford, NJ
Las Vegas, NV
Reno, NV
Brooklyn, NY
Latham, NY
New York, NY
Amherst, OH
Canton, OH
Cincinnati, OH
Maumee, OH
Ontario, OH
El Reno, OK
Muskogee, OK
Oklahoma City, OK
Hillsboro, OR
Medford, OR
Clarks Summit, PA
Conshohocken, PA
Johnstown, PA
Mc Kees Rocks, PA
Pittsburgh, PA
Reading, PA
Washington, PA
Bluffton, SC
Conway, SC
Florence, SC
Greenville, SC
Leesville, SC
Walterboro, SC
Sioux Falls, SD
Brentwood, TN
Cleveland, TN
Franklin, TN
Greeneville, TN
Kingsport, TN
Nashville, TN
Springfield, TN
Addison, TX
Amarillo, TX
Austin, TX
Bay City, TX
Bryan, TX
Dallas, TX
Fort Worth, TX
Houston, TX
Irving, TX
Lewisville, TX
Longview, TX
Midland, TX
Tyler, TX
Chesapeake, VA
Covington, VA
Franklin, VA
Mechanicsville, VA
South Prince George, VA
Bellevue, WA
Lynden, WA
Port Townsend, WA
Spokane, WA
Appleton, WI
Middleton, WI
Bridgeport, WV
Fairmont, WV
Huntington, WV
Beijing, China
Ahmedabad, India
Bengaluru, India
Chennai, India
Kolkata, India
Mumbai, India
New Delhi, India
Pune, India
Vadodara, India
Chuo-Ku, Japan
Sumida-Ku, Japan
Montréal, Canada
Vancouver, Canada
Hermosillo, Mexico
Moscow, Russia
Ciudad De Buenos Aires, Argentina