American International Group

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The American International Group, commonly known as AIG, is a multinational insurance corporation headquartered in New York City. It is one of the largest insurance companies in the world and operates in more than 80 countries. AIG offers a wide range of insurance products and services, including life insurance, property and casualty insurance, and retirement and financial services.
History
AIG was founded in 1919 by Cornelius Vander Starr as American Asiatic Underwriters (AAU). Starr's initial focus was on providing insurance to expatriates and local Chinese residents. In the 1920s, AAU expanded to other parts of Asia and eventually became known as American International Underwriters (AIU). In 1939, the company changed its name to American International Group to reflect its growing global presence.
Over the next few decades, AIG continued to expand its operations and services, including the development of specialized insurance products for industries such as aerospace and energy. In the 1960s, AIG expanded into Europe and Latin America and became a publicly traded company in 1969.
In the 1970s, AIG expanded into the Middle East and Africa, and in the 1980s it entered the Japanese market. In 1993, AIG acquired American General Corporation, a leading life insurance company in the United States.
Recent Years
In 2008, AIG faced financial difficulties due to the global financial crisis and was on the brink of collapse. The U.S. government intervened with a bailout package of $182 billion in exchange for a 79.9% ownership stake in the company. This became the largest government bailout in U.S. history.
After the financial crisis, AIG underwent a restructuring and divested many of its businesses to repay the government bailout. The company also underwent significant leadership changes, with Brian Duperreault taking over as CEO in 2017.
Today, AIG continues to be a leading insurance company and has successfully managed to repay the government bailout and regain its financial stability. The company remains committed to its global expansion and expanding its product and service offerings.

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See Company Q&A