American International Group
Headquarters:
70 Pine St.
New York, NY 10270
Phone: (212) 770-7000
Employees: 106,000
CEO: Martin Sullivan
Stock Symbol: AIG
Website:
http://www.aig.com
Career
Site
American International Group, Inc. (AIG)
is the world's leading international insurance and financial
services organization, with operations in more than 130 countries
and jurisdictions. AIG member companies serve commercial,
institutional and individual customers through an extensive worldwide
network. Japan is AIG's largest overseas property-casualty market.
In the United States, AIG companies are
the largest underwriters of commercial and industrial insurance
and AIG American General is a top-ranked life insurer.
AIG's global businesses also include retirement services, financial
services and asset management. AIG's financial services
businesses include aircraft leasing, financial products, trading
and market making. AIG's growing global consumer finance
business is led in the United States by American General Finance.
AIG also has one of the largest U.S. retirement services businesses
through AIG SunAmerica and AIG VALIC.
The company had assets of $1.061 trillion
at the beginning of the year.
AIG reported record net income in 2007
of $6.2 billion, down from $14.05 billion the previous year.
AIG President and Chief Executive Officer
Martin J. Sullivan said, "AIG's results in 2007 were clearly
unsatisfactory. This was a challenging year in which the deterioration
of both the U.S. residential mortgage and credit markets significantly
affected several of our operations and investments."
History
AIG was founded in 1919 in Shanghai by
an American entrepreneur, C.V. Starr, who opened a small insurance
agency called American Asiatic Underwriters (AAU). Initially
AAU represented a number of American insurance companies in Shanghai,
offering fire and marine coverages. Starr would continue to expand
in China and also sold insurance to other Asian countries.
In 1926, Starr first opened an office on
American soil, setting up American International Underwriters
(AIU) in New York to write insurance on American risks outside
the United States, again as general agent for U.S. insurers.
As political unrest spread in China and
East Asia, Starr moved his companies' headquarters to New York
in 1939. The company merged with other insurers and was known
as American Home in 1952. American International Group Inc. was
formed in 1967 to include all of the various domestic companies.
The company would continue to expand its presence internationally
in both Asia and Europe to become the most powerful insurance
company today.
Benefits
Health/Dental Care
- Health Insurance
- Dental Insurance
Life, Disability, and Accident Insurance
- Group Life Insurance
- Short Term Disability (STD) Insurance
- Optional Long Term Disability Insurance
- Business Travel Accident Insurance
- Optional Personal Accident Insurance
Savings, Investment, and Retirement
Vehicles
- Retirement Plan
- Incentive Savings Plan (ISP)
Supplementary Benefits
Health Care
- Pre-tax Health Care Reimbursement Account: Enables eligible
employees to use pre-tax dollars to pay for certain health-related
items not reimbursed under the medical plan.
- Health Advisory Program: Developed to help employees and their
families confidentially manage personal problems such as anxiety,
depression, job stress, family conflicts, and substance abuse.
Savings, Investment, and Retirement
Vehicles
- Stock Purchase Plan: Gives employees an opportunity to purchase
shares of AIG common stock at a discounted rate.
Work/Life
- Pre-Tax Public Transportation Program: Enables eligible employees
to use pre-tax dollars to pay for certain work-related transportation
and commuting expenses.
- Maternity Program: Provides support and confidential guidance
to expecting parents before, during, and immediately after pregnancy.
- Adoption Assistance Program: Offers eligible employees reimbursement
for qualified expenses incurred after the completion of an adoption.
- Back-Up Child Care Service (Boston, Chicago, Los Angeles, New
York and San Francisco): Available for children 3 months-12 years
old.
- Pre-Tax Dependant Care Reimbursement Account: Enables eligible
employees to use pre-tax dollars to pay for certain expenses
related to caring for dependent children, parents, or other family
members.
- Childcare and Eldercare Referral Service
- College Coach: Assists high school students and their AIG Company-employed
families in selecting, applying to, and financing college.
Philanthropy
- Matching Grants Program: AIG will match employee contributions
to certain qualified tax-exempt institutions.
Training and Development
- Tuition Reimbursement: Reimbursement for job-related classes/education
as defined in the program guidelines.
- AIG e-Learning: Web-based training site offering courses in
a variety of business related subjects. Many courses grant continuing
education or other types of credit. Employee Recognition
- Service Award Program: Offers gifts of appreciation to
employees dedicated to service after specified periods of continuous
employment.
- Big Idea Program: Offers financial awards for ideas outside
of an individual's job responsibilities which result in a solution/potential
benefit to the organization.
- AIG Online Store: AIG-branded apparel, promotional items, sales
incentive items, and gift items available for purchase.
- Talent Search: Offers financial rewards to employees for referral
of individuals who are subsequently hired for full-time employment.
Updated February 28, 2008
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