american international group (AIG) Key Developments
American International Group, Inc. Appoints Douglas A. Dachille as Executive Vice President and Chief Investment Officer
Jul 28 15
American International Group, Inc. announced that Douglas A. Dachille, Chief Executive Officer of First Principles Capital Management, LLC (First Principles), will become Executive Vice President and Chief Investment Officer of AIG, succeeding William N. Dooley, Executive Vice President, Investments, who is retiring. Additionally, AIG is acquiring First Principles, a privately held investment management firm. Mr. Dachille will report to Peter D. Hancock, President and Chief Executive Officer of AIG, and will join AIG’s Operating Committee. Prior to leading First Principles for 11 years, Mr. Dachille was President of Zurich Capital Markets.
American International Group, Inc. Announces Final Results of its Maximum Cash Tender Offer
Jul 17 15
American International Group, Inc. announced the final results as July 16, 2015, the expiration date, of its previously announced maximum cash tender offer for up to $3.3 billion aggregate principal amount of the notes and debentures issued or guaranteed by AIG listed in the table below, pursuant to its offer to purchase dated June 18, 2015. AIG has accepted all notes and debentures validly tendered and not withdrawn. The total consideration includes an early participation amount of $50, £50 or €50 per $1,000, £1,000 or €1,000 principal amount, as applicable, to be paid to holders who validly tendered and did not validly withdraw their notes and debentures at or prior to 5:00 p.m., New York City time, on July 1, 2015 and whose securities have been accepted for purchase by AIG. Holders who validly tendered their notes or debentures after 5:00 p.m., New York City time, on July 1, 2015, and on or prior to the expiration date and whose securities have been accepted for purchase will receive only the applicable tender offer consideration which is equal to the total consideration less the early participation amount. The payment date is expected to be on or about July 20, 2015. Holders whose notes and debentures are accepted in this tender offer will also receive a cash payment representing accrued interest from the most recent interest payment date to but excluding the payment date.
American International Group Launches Initiative to Expand Services to Chinese-Americans
Jul 16 15
American International Group announced it's launching an initiative to expand access to life insurance for Chinese-Americans in the U.S. The company has begun recruiting several hundred additional life insurance agents to address the needs of Chinese-Americans and is implementing an array of other measures to augment its service to them.
American International Group, Inc. Appoints Elias F. Habayeb to the Additional Roles of Principal Accounting Officer and Group Controller
Jul 15 15
On July 15, 2015, the Board of Directors of American International Group, Inc. appointed Elias F. Habayeb, the company’s Senior Vice President and Deputy Chief Financial Officer, to the additional roles of principal accounting officer and Group Controller. Mr. Habayeb, has served as Senior Vice President and Deputy Chief Financial Officer since re-joining the company in April 2015. Previously, from May 2011 to May 2014, he served as Senior Vice President and Chief Financial Officer of International Lease Finance Corporation. From May 2014 to March 2015, he was employed by AerCap assisting with the integration of ILFC’s operations.
American International Group, Inc. Elects Linda A. Mills to the Board of Directors
Jul 15 15
The Board of Directors of American International Group, Inc. elected Linda A. Mills as Director. Ms. Mills has also been appointed to the Board’s Technology Committee and the Board’s Compensation and Management Resources Committee. Ms. Mills is a former Corporate Vice President of Operations for Northrop Grumman, with responsibility for driving effective operations to enable top performance, innovation and affordability.