New boss over local AIG unit
Posted on August 20, 2009 at 2:42 pm
The reorganizing American International Group has created a new leadership post for its U.S. life and retirement divisions — which includes Brentwood-based American General Life & Accident — and named 10-year company veteran Jay Wintrob to fill it.
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The mother of all hiring sprees
Posted on August 10, 2009 at 6:35 amInsurer Liberty National wants to hire 2,500 agents in one day later this month. Nashville and Franklin will be two of the more than 100 locations where aspiring sellers can sign up.
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AIG to spin off two more units
Posted on June 25, 2009 at 8:21 am
The government is trading part of the debt extended to American International Group last fall for preferred equity in two of the insurer’s subsidiaries. AIG plans to take American International Assurance Co. and American Life Insurance Co. public and raise more capital after that. There’s still no word on the future of AIG’s American General division, which employs hundreds in Brentwood.
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AIG chief: Rebuilding company could take till 2014
Posted on May 13, 2009 at 2:44 pm
Testifying before a House committee, Edward Liddy says the fallen insurance giant and owner of Brentwood’s American General has a long way to go to clear up its corporate structure.
“We must take the time and exercise the diligence to do this restructuring properly,” Mr. Liddy told lawmakers. “Let me be clear — our plan is explicitly designed to avoid having to divest A.I.G. assets at fire-sale prices.”
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In a recent memo to A.I.G. employees, Mr. Liddy said the company had developed a restructuring plan called “Project Destiny” that entails either spinning off many of the insurance subsidiaries, either by selling them to other companies or by turning them into independent companies and selling minority stakes through in public stock offerings.
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An IPO for American General?
Posted on February 1, 2009 at 10:41 amUnable to find buyers, AIG is considering splitting off some of its units and selling their shares to the public.
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