American International Group, Inc. (AIG) is a Multinational Insurance and Financial Services Corporation and Headquarter in New York (America). AIG is one of the largest and most prominent insurance companies in the world. The company's history dates back to 1919 when it was founded in Shanghai, China, as American Asiatic Underwriters (AAU).
AIG's primary business segments include:
General Insurance: This segment provides property and casualty insurance products to both commercial and individual customers. It offers coverage for a wide range of risks, including property, liability, and various specialty lines of insurance.
Life & Retirement: AIG's life insurance and retirement services segment offers life insurance products, annuities, and other retirement-related products and services. These products are designed to help individuals and businesses plan for their financial futures.
Investments: AIG manages a substantial investment portfolio, including fixed-income securities, equities, and alternative investments. This segment focuses on generating returns on AIG's investment assets.
AIG has a complex history and underwent significant changes following the global financial crisis of 2008. The company faced severe financial difficulties during that time and received a bailout package from the U.S. government. In exchange for financial support, the government took a significant ownership stake in AIG, which it gradually sold off in subsequent years as the company stabilized.
Since then, AIG has undergone a process of restructuring and refocusing its core businesses while divesting non-core assets. The goal has been to make the company more financially stable and profitable.
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