american international group (AIG) Key Developments
American International Group, Inc. Announces Pricing for Two Series of Debt Securities
Jul 1 15
American International Group, Inc. announced the pricing for two series of debt securities issued by the company subject to its previously announced cash tender offers, pursuant to its offer to purchase dated June 18, 2015 (the offer to purchase). Assuming payment is made on July 7, 2015. Per USD 1,000 or EUR 1,000 principal amount of notes. The reference yield for the 5.450% medium-term notes corresponds to the bid-side price of the 0.625% U.S. treasury due May 31, 2017, as of 10:00 a.m., New York City time on July 1, 2015. The reference yield for the 5.000%. notes corresponds to the June 2017 Interpolated Swap Rate, as described in further detail in the offer to purchase, as of 3:00 p.m., London time on July 1, 2015. The reference yields will be used to determine the consideration paid for the 5.450% medium-term notes and the 5.000 per cent. notes that are accepted for purchase after expiration of the tender offers. The expiration date of the tender offers is 5:00 p.m., New York City time on July 1, 2015 unless extended. Holders who have not already tendered their securities may continue to do so at any time prior to 5:00 p.m., New York City time, July 1, 2015 in accordance with the procedures described in the offer to purchase and the related letter of transmittal. Holders who validly tender and do not withdraw their 5.450% medium-term notes or their 5.000%. notes prior to 5:00 p.m., New York City time, July 1, 2015 unless extended, and whose notes are accepted for purchase pursuant to the tender offers, will receive the applicable total consideration. Tenders of notes may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time on July 1, 2015 but not thereafter. The company expects to accept all notes validly tendered and not withdrawn (including notes accepted for purchase pursuant to the guaranteed delivery procedures, if any) and to make payment on or about July 7, 2015.
American International Group, Inc. Names Annabelle Bexiga as Commercial Insurance Business Information Officer, Effective August 2015
Jun 22 15
American International Group, Inc. (AIG) announced that Annabelle Bexiga has been named as Commercial Insurance Business Information Officer (BIO), effective August 2015. Ms. Bexiga will report to Phil Fasano, Chief Information Officer, and will also have a matrix reporting line to John Doyle, Chief Executive Officer, Commercial Insurance. She will be based in New York. Ms. Bexiga will work closely with the Commercial Insurance organization to develop a world-class technology function that drives business growth, process excellence, and innovation. She joins AIG from TIAA-CREF.
American International Group, Inc. Presents at The gaim Conference, Jun-22-2015 09:50 AM
Jun 19 15
American International Group, Inc. Presents at The gaim Conference, Jun-22-2015 09:50 AM. Venue: Le Meridien Beach Plaza, 22 Avenue Princesse Grace, Monte Carlo, 98000, Monaco. Speakers: Sourav Sengupta, Vice-President, Portfolio Manager.
AIG Reportedly Looking To Acquire RSA Insurance Group's LatAm Business
May 29 15
American International Group, Inc. (NYSE:AIG) is looking to acquire Latin American business of RSA Insurance Group plc (LSE:RSA), Chilean business daily Pulso reported on May 27, 2015. The Financial Times reported in March that RSA is contemplating selling its Latin American operations and had hired Goldman Sachs to handle a potential sale. Other potential buyers reportedly include Zurich Insurance Group Ltd (SWX:ZURN), Allianz SE (DB:ALV), AXA Group (ENXTPA:CS), ACE Limited (NYSE:ACE), Talanx AG (DB:TLX) and Mapfre SA (CATS:MAP).
American International Group, Inc. Appoints Brian T. Schreiber as Executive Vice President and Chief Strategy Officer
May 13 15
American International Group, Inc. announced that Brian T. Schreiber will assume the newly created role of Executive Vice President and Chief Strategy Officer. Mr. Schreiber, who has served in various senior roles over the course of his 18-year career at AIG, will report to Peter D. Hancock, President and Chief Executive Officer of AIG. Mr. Schreiber will join AIG’s Operating Committee and chair its Strategy Committee. As Chief Strategy Officer, Mr. Schreiber will oversee AIG’s global strategic planning efforts; M&A and divestitures; and Communications, which includes corporate marketing, brand, external and internal communications, digital media, and philanthropy and volunteerism; he also will share responsibility for Investor Relations with David Herzog, AIG’s Chief Financial Officer. Mr. Schreiber will lead AIG’s efforts to identify, and execute on, value-maximizing growth opportunities, rationalize the company’s portfolio of businesses, and determine capital allocation. Most recently, Mr. Schreiber served as Deputy Chief Investment Officer, which included managing a $200 billion asset portfolio. He also served as Treasurer and as Head of Strategic Planning, managing many of AIG’s major acquisitions, as well as acting as a key member of the team that designed and executed AIG’s restructuring plan to successfully repay America plus a combined positive return of nearly $23 billion.