02.08.2020
aig south africa board of directors
1962/003192/06 AIG Life South Africa Limited is a Licensed Financial Services Provider FSP No. No.2001/016602/06 AIG's Audit Committee and Board of Directors have established procedures for the receipt, retention and treatment of complaints pursuant to Rule 10A-3(b)(3) under the Securities Exchange Act of 1934 and have established a means for communicating with the non-management members of AIG's Board of Directors pursuant to Section 303A.03 of the New York Stock Exchange Listed Company Manual.
The organizational chart of AIG South Africa displays its 3 main executives including Wayne Abraham × We use cookies to provide a better service.
However, AIG continued to expand its markets by introducing specialized energy, transportation, and shipping products to serve the needs of niche industries.During the 1980s, AIG continued expanding its market distribution and worldwide network by offering a wide range of specialized products, including pollution liabilityThe early 2000s saw a marked period of growth as AIG acquired American General Corporation, a leading domestic life insurance and annuities provider,In March 2003 American General merged with Old Line Life Insurance Company.In the early 2000s, AIG made significant investments in Russia as the country recovered from its In November 2004, AIG reached a $126 million settlement with the In 2005, AIG became embroiled in a series of fraud investigations conducted by the On May 1, 2005, investigations conducted by outside counsel at the request of AIG's Audit Committee and the consultation with AIG's independent auditors, PricewaterhouseCoopers LLP resulted in AIG's decision to restate its financial statements for the years ended December 31, 2003, 2002, 2001 and 2000, the quarters ended March 31, June 30 and September 30, 2004 and 2003 and the quarter ended December 31, 2003.AIG purchased the remaining 39% that it did not own of online auto insurance specialist On June 11, 2008, three stockholders, collectively owning 4% of the outstanding stock of AIG, delivered a letter to the Board of Directors of AIG seeking to oust CEO Martin Sullivan and make certain other management and Board of Directors changes.
The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary. Itâs built on our longevity in the sector, our global franchise, our technical expertise and our experience handling more claims against directors than anyone else.
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This letter was the latest volley in what On June 15, 2008, after disclosure of financial losses and subsequent to a falling stock price, Sullivan resigned and was replaced by In late 2008, the federal government bailed out AIG for $180 billion, and technically assumed control, because many believed its failure would endanger the financial integrity of other major firms that were its trading partners--Illustrating the danger of an AIG bankruptcy, a September 17, 2008, AIG had sold credit protection through its London unit in the form of In March 2009, AIG compounded public cynicism concerning the "too big to fail" firm's bailout by announcing that it would pay its executives over $165 million in executive bonuses.AIG began selling some assets to pay off its government loans in September 2008 despite a global decline in the valuation of insurance businesses, and the weakening financial condition of potential bidders.AIG then sold its American Life Insurance Co. (ALICO) to MetLife Inc. for $15.5 billion in cash and MetLife stock in March 2010.AIG sold its Taiwanese life insurance company Nan Shan Life to a consortium of buyers for $2.16 billion in January 2011.Nine years after the initial bailout, in 2017, the U.S. Financial Stability Oversight Council removed AIG from its list of too-big-to-fail institutions.On October 12, 2012, AIG announced a five and a half year agreement to sponsor six New Zealand-based rugby teams, including the world champion The U.S. Department of the Treasury in December 2012 published an itemized list of the loans, stock purchases, special purpose vehicles (SPVs) and other investments engaged in with AIG, the amount AIG paid back and the positive return on the loans and investments to the government.AIG began an advertising campaign on January 1, 2013, called "Thank You America," in which several company employees, including AIG President and CEO Robert Benmosche, talked directly to the camera and offered their thanks for the government assistance.Brian Duperreault was appointed CEO of AIG on May 15, 2017.In Australia and China, AIG is identified as a large financial institution and provider of financial services including credit security mechanisms.AIG offers property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services.Hank Greenberg, with lead lawyer David Boies, independently sued the U.S. Government for money damages in the United States Court of Federal Claims in 2011.Greenberg and the U.S. Government appealed to the Court of Appeals for the Federal Circuit, which ruled that Greenberg had no legal right to challenge the bailout because that right belonged to AIG, which in this case, chose not to sue.AIG filed suit against the Federal Reserve Bank of New York in January 2013 in order to maintain the former's right to sue Bank of America and other issuers of bad mortgage debt.On May 7, 2013, Los Angeles U.S. District Judge, Mariana Pfaelzer, ruled in a case between AIG and Bank of America concerning possible misrepresentations by Merrill Lynch and Countrywide as to the quality of the mortgage portfolio, that $7.3 billion of the disputed claims had not been assigned.
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