AIG

Office address: 1271 Avenue of the Americas, New York, NY 10020
Website: aig.com
Year established: 1919
Company type: financial services
Employees: 25,000+
Expertise: property casualty insurance, risk management, commercial insurance, cyber insurance, group accident and health, captive solutions, management and professional liability, specialty risks, multinational solutions, warranty and service programs
Parent company: N/A
Key people: Peter Zaffino (CEO); Ed Dandridge, Christopher Flatt, Charlie Fry, Keith Walsh, Chris Schaper, and Rose Marie Glazer (EVPs)
Financing status: corporation

AIG (American International Group) is an insurance group in New York that works with clients in more than 200 countries. It offers property casualty insurance, risk management, and financial services, with $24 billion in net premiums written in 2024. The company has a large workforce and a strong presence in both commercial and personal insurance markets.

History of AIG

AIG dates back to 1919, when Cornelius Vander Starr set up American Asiatic Underwriters in Shanghai, China. The company quickly grew, with Nelle Vander Starr joining in 1923 and becoming its first woman executive. By 1926, AIG had opened its first US office in New York City which marked the start of its American story.

Global expansion

AIG moved its main offices to New York City in 1939 because of World War II. It opened offices in Cuba, the UK, and Australia by the late 1950s. In the 1960s, the company was incorporated in Delaware and began trading publicly, which set the stage for even more growth.

Breaking new ground

AIG made history in 1992 as the first foreign insurer licensed in China in over 40 years. The company also launched one of the first cyber security insurance programs in 1999. The firm then formed a joint venture with Tata Group in India and acquired Travel Guard.

AIG's challenges and milestones

The firm faced a major test during the 2008 financial crisis, receiving government support but repaying it by 2012. The company continued to grow when it acquired Fuji Fire and Marine in Japan and Validus Holdings, Ltd. in 2018.

In recent years, AIG became the title sponsor of the Women’s British Open and helped triple the tournament’s prize money. This highlights its commitment to equality and excellence in sports.

A modern global leader

Today, AIG serves clients in about 190 countries and jurisdictions. The company states that it remains dedicated to creating opportunities and raising standards for clients and partners around the world

AIG products and services 

AIG delivers insurance and investment products for individuals and businesses, using global reach and expertise to meet complex needs:

Commercial insurance

• property insurance: covers physical assets for businesses
• casualty insurance: manages liability and legal risks
• commercial property: protects buildings and business equipment
• cyber insurance: addresses data breach and cyber risks
• excess and surplus lines: insures unique or high-risk exposures
• management and professional liability: protects executives and professionals from claims

Specialty and enterprise solutions

• captive solutions: helps businesses manage risk internally
• multinational solutions: supports firms with global operations
• specialty risks: insures hard-to-place or unique risks
• warranty and service programs: offers extended protection for products

Group and individual solutions

• group accident and health: provides employee benefits coverage
• individuals and families solutions: offers personal insurance and financial protection

Investment-focused offerings

• retirement products: supports long-term savings and income needs
• life insurance with investment options: combines protection and cash value growth
• institutional investment products: delivers investment management for organizations

AIG is also recognized for its strong claims support and global network. The company helps clients manage risk, protect assets, and plan for the future in many markets.

Culture and corporate values

AIG reports that its purpose is to help clients face uncertainty and build confidence for the future. The company says they are shaped by a commitment to learning, trust, and working together, guided by these values:

1. take ownership
2. set the standard
3. win together
4. be an ally
5. do what’s right

According to the company, employees are given support and space to grow, with a focus on tackling challenges together. AIG lists several benefits for its staff:

• compensation and rewards: market-based pay, incentive compensation, and company performance rewards
• retirement and savings: 401(k) contributions, life and disability insurance options
• wellness and leave: health benefits, paid time off, parental leave, and emergency care support
• financial assistance: emergency loans, financial counseling, and flexible spending accounts
• career support: flexible work, skill development, learning programs, and tuition reimbursement
• culture and community: volunteer time, employee groups, donation matching, discounts, and museum memberships

AIG also says that it builds a culture where everyone is respected and included. The company reports it uses fair pay structures and supports career growth for all employees.

About CEO Peter Zaffino and key people

Peter Zaffino is the chairperson and CEO of AIG, taking on both roles in 2021 and 2022 respectively. Before joining the firm in 2017, Zaffino held executive positions at Marsh & McLennan Companies and GE Capital. He has a bachelor’s degree from Boston College and an MBA from New York University.

The executive leadership team at AIG brings strong experience in insurance and finance:

• Ed Dandridge is EVP and chief marketing & communications officer; he manages global brand and communications strategy
• Christopher Flatt is EVP and global chief underwriting officer; he oversees underwriting standards and risk selection
• Charlie Fry is EVP, reinsurance and risk capital optimization; he focuses on capital efficiency and reinsurance programs
• Keith Walsh is EVP and CFO; he directs financial planning and company performance
• Chris Schaper is EVP and chief risk officer; he oversees risk management and enterprise risk strategy
• Rose Marie Glazer is EVP and general counsel; she manages legal affairs and corporate governance

AIG’s executive leadership team oversees core functions in marketing, underwriting, reinsurance, finance, risk management, and legal affairs, each led by experienced industry professionals.

The future at AIG

AIG welcomed over 120 interns in 2025 to give students real-world experience and build future talent. The company offered hands-on learning in areas like claims, finance, and underwriting, helping interns develop industry skills and professional networks. This program supports its long-term growth by preparing new professionals who understand its business and values.

The company also helped boost the visibility of women’s golf by serving as the title sponsor of the AIG Women’s Open. It helped triple the prize money and secured play on famous courses which made the event more competitive and global. The firm continues its focus on equality and works to lead in supporting women’s sports.