AIG

70 Pine Street, 3rd. Floor New York, NY 10270
Date Incorporated: 
1919
Stock Ticker: 
AIG
AM Best Rating: 
bbb*
Phone: 
877-638-4244
Website: 
www.aig.com
Lines of Insurance: 
Auto, Homeowners, Life, Health

Background & History:

In 1919, Cornelius Vander Starr established an insurance agency in Shanghai, China, to sell insurance to the Chinese. The company flourished in China until early 1949 when Mao Zedong led the Communist People's Liberation Army into Shanghai. Starr moved the company to New York City and continued operations. Over the years, the company expanded into several markets, such as parts of Asia, Latin America, Europe and the Middle East, through the acquisition of subsidiaries.

In the early ‘60s Maurice Greenberg took over the North American operations and shifted the focus from personal lines of insurance to corporate coverage. Additionally, he began selling policies through independent brokers rather than salaried agents to reduce overhead. The company went public in 1969.

More recently, AIG has been at the center of the sub prime mortgage crisis being one of several companies that suffered liquidity problems and subsequently received government bailout money.
 
Company Overview:
 
The company is an international insurance organization serving over 130 countries and jurisdictions. It offers products for commercial and personal needs through independent brokers. The company also offers retirement and financial services.
 

*As of July, 2009

States Served: 
AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY
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