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American International Group facts for kids

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American International Group, Inc.
Public (NYSEAIG)
(80% owned by U.S. Government)
Industry Insurance Financial Services
Founded Flag of China (1912–1928).svg
Founder Cornelius Vander Starr
Headquarters United States 70 Pine Street,
New York City, New York
Area served
Key people
Robert B. Willumstad
(Outgoing CEO)
Edward M. Liddy
(Incoming CEO)
Products Insurance Annuities mutual funds Financial Products
Revenue Decrease US$ 110.064 Billion (2007)
Operating income
Decrease US$ 8.943 Billion (2007)
Decrease US$ 5.36 Billion (2nd Quarter 2008)
Total assets US$ 1.050 Trillion ( 2nd Quarter 2008)
Total equity Decrease US$ 78.09 Billion (2nd Quarter 2008)
Number of employees
116,000 (2008)

American International Group, Inc. (AIG) (NYSEAIG, TYO: 8685, ISEQ: AIN) is a major American insurance corporation based in New York City. The company's UK headquarters are in London, its Continental Europe operations are based in 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. It became part of the Dow Jones Industrial Average on April 8, 2004.

On September 16 2008, the U.S. Federal Reserve Bank announced its plan to lend the insurer $85 billion, U.S. dollars, in exchange for a 79.9% equity stake in the company.

AIG announced on the same day that its board accepted the terms of the Federal Reserve Bank's loan offer.

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See also

Kids robot.svg In Spanish: American International Group para niños

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