Aigs

AIGs is most commonly used to refer to American International Group (AIG), an American multinational company that provides insurance and other financial services. The organization operates through multiple subsidiaries and brands, offering a range of products including property and casualty insurance, life insurance, retirement services, and asset management. It serves individuals, businesses, and institutions across many countries.

Origin and growth: The company traces its roots to 1919, when Cornelius Vander Starr established a business in Shanghai that evolved into American International Group. Over the decades, AIG expanded internationally and diversified its offerings, becoming one of the largest insurers and financial services firms in the world. Its activities have included traditional underwriting, specialty lines, mortgage insurance, and various financial products tied to risk management and retirement planning.

2008 financial crisis and bailout: AIG faced a severe liquidity crisis during the global financial crisis, particularly related to exposures in credit default swaps and other complex financial instruments. In 2008, the U.S. government provided emergency support to prevent a wider collapse, and the government took an ownership stake in the company while it undertook a comprehensive restructuring. The bailout and subsequent recovery involved asset sales, capital injections, and restructurings aimed at restoring solvency and restoring market confidence.

Recent developments and structure: In the years following the crisis, AIG focused on returning to core insurance and retirement businesses, improving underwriting discipline, risk controls, and capital management. The company has periodically restructured its operating segments to reflect its focus on general insurance, life and retirement, and related services. It remains subject to ongoing regulatory review and governance requirements typical of large multinational insurers.

See also: American International Group, list of subsidiaries of AIG.