2. Introduction :- American International Group, Inc. ( AIG ), is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Défense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list , AIG was the 18th-largest company in the world.
5. Brief History of AIG line of business :- 1919 AIG founded in Shanghai, China 1982 First hedge fund investment Mid 1980s Direct private equity investment teams formed in U.S. and HongKong 1987 AIG Global Real Estate formed to invest in and manage real estate for AIG 1988 Multi-Manager Hedge Fund Program begins 1989 Creation of first Dublin-domiciled UCITS (currently 33 funds)
6. 1994 First sponsored private equity fund raised (AIG Asian Infrastructure Fund, L.P.) US $1 billion committed capital 1996 Consolidation of AIG’s institutional asset management activities into AIG Investments 1998 Purchase of majority interest in Brazos Capital Management, L.P. (formerly John McStay Investment Counsel, L.P.) 1999 Acquisition of SunAmerica 2001 Acquisition of American General Investment Management 2005 Ranked 6th largest institutional asset manager by Pensions & Investments 2007 Launch of Mutual Fund Business in India
7. Company Profile :- Founded : 1919 in Shanghai, China Founder : Cornelius Vander Starr Headquarters : American International Building New York City, New York Area served : Worldwide Key people : Robert B. Willumstad (Outgoing CEO) Edward M. Liddy (Incoming CEO)
8. Industry : Insurance, financial services Products : Insurance annuities, mutual funds Market cap : US $ 7.23 billion ( As of September 18, 2008, close ) Revenue : US $ 110.064 billion ( 2007 ) Operating income : US $ 8.943 billion ( 2007 ) Net income : US $ 5.36 billion ( 2nd Quarter 2008 ) Total assets : US $ 1.050 trillion ( 2nd Quarter 2008 ) Total equity : US $ 78.09 billion ( 2nd Quarter 2008 ) Employees : 116,000 ( 2008 ) Website : WWW.AIG.COM
10. Some International Holdings of AIG :- Australia : AIG Life (Australia) underwrites over one million life insurance policies in Australia held through industry pension plans. The general insurance arm offers mainly corporate insurance and is among the top 10 insurers in Australia. China : AIG owns 19.8% of People's Insurance Company of China (PICC) through direct and indirect holdings. PICC P&C is China's largest insurer of casualty insurance. Hong Kong : AIG's American International Assurance operations include 2.2 million policy holders. India : AIG is the minority partner with the Tata Group in two insurance companies in India, holding 26 percent each in Tata AIG Life Insurance Co Ltd and Tata AIG General Insurance Co Ltd.
11. Singapore AIA Singapore is a wholly owned subsidiary of AIG in Singapore. It has more than two million policies in force, more than 3,800 financial services consultants and 800 employees in Singapore offices. General manager Mark O'Dell resigned on September 18, 2008 in response to policy holders queuing up to cash in their policies in the face of concern of the future of AIG. United Kingdom AIG operates in the UK with the brands AIG UK, AIG Life and AIG Direct. It has about 3,000 employees, and sponsors the Manchester United football club. In response to redemption demands, AIG Life (UK) suspended redemptions of its AIG Premier Bond money market fund on September 19, 2008 in order to provide an orderly withdrawal of assets.
13. AIG’s Diversified Business Holdings :- Mortgage lending Aerospace Real estate Telecommunications SkiingPorts Other holdings AIG owns Ocean Finance a United Kingdom based company providing home owner loans, mortgages and remortgages.
14. AIG Investments :- A group of international companies which provide investment advice and market asset management products and services to clients around the world. AIG Investments was formed in 1996 by consolidating the investment divisions of various AIG subsidiaries worldwide. The extensive network and resources of AIG, which operates in 130 countries and jurisdictions, complement AIG Investments’ network. AIG Investments offers the widest range of investment capabilities divided into five major groups – Equity, Fixed Income, Real Estate, Private Equity, Hedge funds and Other Alternate asset classes. It is also one of the largest asset management firms in the world with nearly US $758 billion in assets as of 30 June 2008.
15. Investment Capabilities :- AIG Investments provides investment solutions to investors around the world through a variety of vehicles including separately managed accounts, mutual funds, commingled funds, and funds-of-funds. 1) Equities Global, Country and Regional Large, Mid and Small Cap Emerging Markets Indexed
16. 2) Fixed Income Global, Country and Regional Investment Grade Emerging Markets Municipal Bond High Yield/Leveraged Loans Private Placement Structured Products Global Securities Lending 3) Real Estate Global, Country and Regional Acquisition, Development and Re-development Core Plus, Value Added and Opportunistic Office, Retail, Residential and Industrial
