American International Group
AIG headquarters, 1271 Avenue of the Americas, New York | |
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | December 19, 1919 in Shanghai, China |
| Founder | Cornelius Vander Starr |
| Headquarters | 1271 Avenue of the Americas, , U.S. |
Area served | Worldwide |
Key people | Peter Zaffino (chairman and CEO) |
| Products | |
| Revenue | US$27,250,000,000 (2024) |
| US$3.87 billion (2024) | |
| −US$1.43 billion (2024) | |
| Total assets | US$161.3 billion (2024) |
| Total equity | US$45.52 billion (2024) |
Number of employees | c. 22,000 (2024) |
| Subsidiaries | TATA AIG |
| Website | aig |
| Footnotes / references | |
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people. The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.
AIG has offices around the world, with corporate headquarters in New York City. It serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. AIG was ranked 60th on the 2018 Fortune 500 list. According to the 2016 Forbes Global 2000 list, AIG was the 87th-largest public company in the world. On December 31, 2017, AIG had US$65.2 billion (about $81.8 billion in 2024) in shareholder equity.
During the 2008 financial crisis, the Federal Reserve bailed out the company for $180 billion and assumed a controlling ownership stake. The Financial Crisis Inquiry Commission attributed AIG's failure to the mass sales of unhedged insurance. AIG repaid $205 billion (about $276 billion in 2024) to the United States government in 2012.