[브랜드 역사] 국내 첫 외국계 손해보험사 AIG

이미지 출처 : FORTUNE, https://fortune.com/company/aig/ 이미지 출처 : FORTUNE, https://fortune.com/company/aig/

American International Group AIG is a global company that leads insurance and financial services worldwide with sales networks in more than 80 countries and jurisdictions. AIG affiliates are one of the insurance companies with a wide range of scoop and fire insurance networks around the world, and are introducing products for companies, institutions and individual customers. AIG also leads the industry by providing life insurance and retirement pension services in the U.S. AIG officially withdrew from its life insurance division in October 2020. According to foreign media such as the Wall Street Journal, AIG issued a statement after the closing of the transaction on October 26, 2020 based on U.S. local time and said it has decided to separate the life insurance and pension insurance sectors from the group. Through this, AIG announced its plan to focus on housing and household goods insurance and accident insurance. In addition, CEO Peter Zafino, who took office as of March 1, 2021, succeeded in bringing out a turnaround in the property and accident insurance sector, which helped his predecessor, DuPeralt. AIG has been the world’s leading provider of corporate insurance, but has struggled for years with poor performance. The branch of the life and pension insurance sector has been claimed by activist investors such as Carl Icahn and John Paulson, and AIG has opposed it. Icahn’s claims were not accepted at two shareholders’ meetings in 2015 and 2016. Life insurance was hit hard by the aftermath of ultra-low interest rates. This is because much of the insurance premiums paid by customers were invested in large bond portfolios. Bond investment has a low profit at low interest rates. In addition, it seemed difficult to solve the difficulties within a day or two because the prevailing prediction is that the ultra-low interest rate situation will continue in the next few years. However, many people are paying attention to how it will affect the life insurance industry in the aftermath of the recent U.S. rate hike. At the end of 2019, AIG’s life and pension insurance business accounted for about one-third of total sales. As of June 30, 2020, about half of AIG’s total assets of $569 billion are in the life and pension insurance sector. In conclusion, AIG collapsed during the 2008 global financial crisis and was rescued by the U.S. government’s bailout. AIG, which was nationalized by the U.S. government, paid back up to 185 billion dollars in relief funds for the first time in four years and became a private company, but the size was halved. American International Group AIG is a global company that leads insurance and financial services worldwide with sales networks in more than 80 countries and jurisdictions. AIG affiliates are one of the insurance companies with a wide range of scoop and fire insurance networks around the world, and are introducing products for companies, institutions and individual customers. AIG also leads the industry by providing life insurance and retirement pension services in the U.S. AIG officially withdrew from its life insurance division in October 2020. According to foreign media such as the Wall Street Journal, AIG issued a statement after the closing of the transaction on October 26, 2020 based on U.S. local time and said it has decided to separate the life insurance and pension insurance sectors from the group. Through this, AIG announced its plan to focus on housing and household goods insurance and accident insurance. In addition, CEO Peter Zafino, who took office as of March 1, 2021, succeeded in bringing out a turnaround in the property and accident insurance sector, which helped his predecessor, DuPeralt. AIG has been the world’s leading provider of corporate insurance, but has struggled for years with poor performance. The branch of the life and pension insurance sector has been claimed by activist investors such as Carl Icahn and John Paulson, and AIG has opposed it. Icahn’s claims were not accepted at two shareholders’ meetings in 2015 and 2016. Life insurance was hit hard by the aftermath of ultra-low interest rates. This is because much of the insurance premiums paid by customers were invested in large bond portfolios. Bond investment has a low profit at low interest rates. In addition, it seemed difficult to solve the difficulties within a day or two because the prevailing prediction is that the ultra-low interest rate situation will continue in the next few years. However, many people are paying attention to how it will affect the life insurance industry in the aftermath of the recent U.S. rate hike. At the end of 2019, AIG’s life and pension insurance business accounted for about one-third of total sales. As of June 30, 2020, about half of AIG’s total assets of $569 billion are in the life and pension insurance sector. In conclusion, AIG collapsed during the 2008 global financial crisis and was rescued by the U.S. government’s bailout. AIG, which was nationalized by the U.S. government, paid back up to 185 billion dollars in relief funds for the first time in four years and became a private company, but the size was halved.

Source: Brand Cook, https://www.youtube.com/watch?v=9ZXeFej4Hnk Source: Brand Cook, https://www.youtube.com/watch?v=9ZXeFej4Hnk

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