- American International Group, Inc
American International Group Net worth 2024 (estimated)
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American International Group facts
- , also known as AIG, is an American multinational insurance corporation with more than 88 million customers in 130 countries
- AIG companies employ over 64,000 people in 90 countries
- The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC)
- AIG Property Casualty provides insurance products for commercial, institutional and individual customers
- AIG Life and Retirement provides life insurance and retirement services in the United States
- UGC focuses on mortgage guaranty insurance and mortgage insurance
- AIG also focuses on global capital markets operations, direct investment and retained interests
- AIG was a central player in the financial crisis of 2008
- It was bailed out by the federal government for $180 billion, and the government took control
- The Financial Crisis Inquiry Commission (FCIC) of the US government concluded AIG failed primarily because it sold massive amounts of insurance without hedging its investment
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