The Holdings of American International Group include the operating entities and subsidiaries of insurance conglomerate American International Group (AIG) that operates in over 130 countries. The company's business consists of four core areas: General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management.
International holdings
China
AIG owns 19.8% of
People's Insurance Company of China
The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder.
The group contains the major subsidiaries: PICC Asset Managem ...
(PICC) through direct and indirect holdings. PICC P&C is China's largest insurer of casualty insurance.
AIG owns a controlling share pack of Beijing Panam International Aviation Academy or BPIAA. BPIAA was established in 2004 as the largest privately owned flight training academy in China. Its bases located in Wuhai, Bautou, Shijajuan and Handan. In 2008, following the global crisis and economic recession, BPIAA has stopped its operation awaiting company re-purchase from other, more capable investors.
Japan
AIG's AIU Insurance unit has run a P&C insurance in the country since 1946, and is now the largest foreign nonlife insurer with 14,000 agents nationwide. In retail auto and L&H space, AIG owns American Home and
Fuji Fire and Marine Insurance
is a Japanese insurance company. It has its corporate headquarters in the Kamiyacho MT Building (神谷町MTビル ''Kamiyachō MT Biru'') in Toranomon, Minato, Tokyo and its Osaka offices in Chuo-ku, Osaka.AIU, which sells general insurance, operates in Indonesia.
Pakistan
AIG operates in Pakistan through the New Hampshire Insurance Company. The group's principal office is in Karachi and it has branch offices in Lahore, Islamabad, Faisalabad and Sialkot. AIG has been selling automobile insurance in Pakistan since 1949. In March 2010, New Hampshire Insurance became the first company in Pakistan to offer terrorism insurance, in collaboration with Allied Bank Ltd.
United Kingdom
AIG operates in the UK with the brands Chartis and Chartis Direct. It has about 3,000 employees, and sponsored the
Manchester United
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of City of Salford, Salford to ...
football club, paying them the largest amount by a sponsor in history.
Insurance holdings in the United States
California
AIG owns more than two dozen companies licensed to offer insurance in California, according to the California Insurance Commissioner. They include AIG Casualty Co.; AIG Centennial Insurance Co.; AIG Premier Insurance Co.; AIU Insurance Co.; American General Indemnity Co.; American Home Assurance Co.; American International Insurance Co. of California Inc.; Birmingham Fire Insurance Co. of Pennsylvania; Commerce And Industry Insurance Co.; GE Auto & Home Assurance Co.; GE Indemnity Insurance Co.; Granite State Insurance Co.; Hartford Steam Boiler Inspection and Insurance Co.; Insurance Co. of the State of Pennsylvania; Landmark Insurance Co.; National Union Fire Insurance Co. of Pittsburgh, Pa; New Hampshire Insurance Co.; Pacific Assurance; United Guaranty Commercial Insurance Co. of North Carolina; United Guaranty Credit Insurance Co.; United Guaranty Residential Insurance Co.; and Yosemite Insurance Co. It previously sold
21st Century Insurance
Farmers Insurance Group (informally Farmers) is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independen ...
, for $1.9 billion in 2009.
Pennsylvania
Twenty AIG subsidiaries are licensed to do business in Pennsylvania, including National Union Fire Insurance Co. in Pittsburgh, believed to be the second largest AIG underwriter in the nation. Other subsidiaries include New Hampshire Insurance, Insurance Company of the State of Pennsylvania, Granite State Insurance and New Hampshire Indemnity.
West Virginia
AIG writes property and casualty insurance, life and annuity, and workers' compensation insurance in West Virginia.
Holdings
Aerospace
AIG owns International Lease Finance Corporation (ILFC), the world's largest aircraft leasing company, with hundreds of aircraft including the full range of Boeing and Airbus jetliners, as well as the McDonnell DouglasMD-11 and MD-80 Series. Total assets under lease are $55 billion as of June 30, 2008. Estimates of its value range from $5 billion to $14 billion based on a comparison with rivals.
Real estate
AIG/Lincoln was established in 1997 as a strategic partnership between AIG Global Real Estate Investment Corporation, New York, a subsidiary of AIG - American International Group, New York, and Lincoln Property Company, a Dallas based commercial real estate manager...
It has developed or is currently developing over 2.2 million square meters of real estate in Poland, Hungary, Romania, Czech Republic, Germany, Italy, Spain, Switzerland, Austria and Russia.
Skiing
AIG owned
Stowe Mountain Resort
Stowe Mountain Resort is a ski resort in the northeastern United States, near the town of Stowe in northern Vermont, comprising two separate mountains: Mount Mansfield and Spruce Peak. The lift-served vertical drop of Mount Mansfield is , the f ...
until February 2017. At the time of ownership, it was AIG's only ski business.
AIG's connection to Stowe started when C.V. Starr, the company's founder, invested in the resort in 1946. A $300m, 10 year expansion was started in 2005.
Other holdings
AIG owns Ocean Finance, a British provider of home owner loans, mortgages and remortgages.
AIG was the principal sponsor of English football team
Manchester United
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of City of Salford, Salford to ...
AIG Advisor Group
Advisor Group is a network of independent wealth management firms.
With its headquarters in Phoenix, Arizona, it is one of the largest network of independent broker-dealers in the US, with over 6,000 registered representatives, many of whom are ...
Chartis
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
VALIC
The Variable Annuity Life Insurance Company, or VALIC, a subsidiary of American International Group, Inc., (AIG), is an insurance corporation that specializes in tax-qualified retirement plans, supplemental tax-deferred and after-tax investments. ...
Lemon socialism
Lemon socialism is a pejorative term for a form of government intervention in which government subsidies go to weak or failing firms (''lemons''; see Lemon law), with the effective result that the government (and thus the taxpayer) absorbs part ...