Monday, November 14, 2011

Top Life Insurance Companies

         American International Group, Inc. (AIG) is a top worldwide insurance company helping customers in more than 130 countries. AIG companies serve industrial, institutional and individual customers through one of the most wide global property casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. AIG's financial services business engages in commercial aircraft leasing through International Lease Finance Corporation and the remaining Capital Markets portfolios through AIG Financial Products Corp. And AIG Trading Group Inc. And their respective subsidiaries.
Its commercial headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in La Defense, Paris, and its Asian headquarters office is in Hong Kong. According to the 2011 Forbes Global 2000 list, AIG was the 29th-largest public company in the world. It was listed on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008.
Last year, A.I.G. posted a loss of nearly $2.7 billion for the second quarter, harmed by a $3.3 billion accounting charge tied to the sale of a major international life insurance unit. Since then, the insurer has shed additional businesses and, perhaps most important, begun selling down the government’s controlling equity stake.
Still, much of the quarter’s gain came from its stake in American International Assurance, the big Asian life insurer that the company took public in 2010. A.I.G. earned $1.5 billion from its holdings in the unit.
For the quarter, the company earned $1.8 billion, or $1 a share. On an after-tax operating income basis, which excludes additional profit from discontinued businesses as well as accounting charges tied to its overhaul, A.I.G. earned 69 cents a share. That fell short of the 92-cent average consensus estimate of analysts, according to Thomson Reuters.


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