Explore AIG's Timeline

1900s

1919

Cornelius Vander Starr establishes American Asiatic Underwriters (AAU), a general insurance company, in Shanghai, China.

1920s

1923

Nelle Vander Starr (center) joins the company’s early operations in Shanghai, China, later becoming the first woman executive.

1926

The first U.S. office, American International Underwriters (AIU), opens in New York City.

1930s

1937

First Latin American market operation opens in Cuba.

1939

Company headquarters relocate from Shanghai, China to New York City.

1940s

1943

During World War II, many company employees — both those in the military and civilians — are affected by the global conflict. C.V. Starr helps employees and their families by providing financial support and supplies during the war and jobs after the war. Also, he personally corresponds with families of employees who were being held in an internment camp. As one employee’s mother wrote to her son, “As soon as [Mr. Starr] had any word at all from the American Red Cross about you, he phoned me. He told me you were safe.”

1946

Soon after World War II, C.V. Starr opens offices, in Japan and Germany to provide insurance for the U.S. military.

1947

Lilo Wiegand joins American International Underwriters (AIU) in West Berlin, Germany. During the Berlin Blockade of 1948-1949, she singlehandedly runs the West Berlin office and keeps it open serving clients.

1948

Through the Marshall Plan, 1948 to1952, the United States gave almost $13 billion (more than $100 billion today) in economic support to more than a dozen European countries still recovering from the war. C.V. Starr is an early and committed supporter of the Marshall Plan, and the company plays a part by providing insurance for vital infrastructure projects in Germany, Greece, and Turkey.

1950s

1951

The company establishes its first Middle Eastern operation, in Lebanon.

1952

The acquisition of general insurer Globe and Rutgers Insurance Group, which includes the American Home brand, expands the company’s domestic market presence.

1953

Offices open in the United Kingdom.

The company provides aid to victims of the devastating floods in the Netherlands by making a $10,000 donation to support recovery efforts.

1954

The company provides insurance coverage for a scientific expedition to the North Magnetic Pole aboard the ship, Monte Carlo. The 11-person crew faces many challenges on their way to the top of the world including strong storms and pack ice.

The Franklin Life Insurance Company (later acquired by AIG) is one of the first businesses in the U.S. to enter the computer age when it purchases a Universal Automatic Computer (UNIVAC). The computer performs a range of functions including premium billing, premium accounting, dividend accounting, agency commission accounting, and valuation of reserves. Experiencing phenomenal sales growth, Franklin Life management determines that new technology is necessary to keep up demand and future growth.

Operations begin in South Korea.

1957

Offices open in Australia.

1960s

1967

American International Group (AIG) incorporates in Delaware.

1968

Maurice R. Greenberg succeeds Cornelius Vander Starr as company leader.

1969

AIG stock begins publicly trading.

1970s

1975

AIG is the first U.S. Insurance organization to establish a direct business relationship with the People’s Republic of China following a visit by President and CEO Maurice R. Greenberg.

1976

AIG opens operations in Ireland, the first wholly American-owned insurer established in the country.

1980s

1984

AIG begins trading on the New York Stock Exchange.

1990s

1992

The People's Republic of China grants AIG a license to operate a life and non-life insurance business in Shanghai, the first foreign insurer granted a license in over 40 years by the Chinese government.

1999

AIG acquires Sun America, Inc., a leading retirement and financial services company.

 

AIG launches one of the industry’s first cyber security insurance protection programs.

2000s

2001

AIG acquires American General Corporation, a leading life insurer.

Tata and AIG form a joint venture general insurance company in India.

2005

Martin J. Sullivan is appointed AIG President and CEO.

2006

AIG acquires Travel Guard, a provider of travel insurance programs and emergency travel assistance.

2008

AIG Chairman Robert Willumstad becomes CEO.

A financial crisis hits the U.S., the government provides support to AIG, and Edward M. Liddy becomes AIG Chairman and CEO.

2009

Robert H. Benmosche is named AIG President and CEO.

2010s

2011

An earthquake off the coast of Japan triggers a tsunami that devastates the Sendai region. In the aftermath, AIG helps coastal Japanese communities by using innovative technology to shorten claim times, and provide financial support and emergency supplies.

Acquires Fuji Fire and Marine, a leading non-life insurer in Japan.

2013

AIG launches sponsorship of the Dublin GAA’s hurling, football, ladies, and camogie teams in Ireland.

2014

Peter D. Hancock is named AIG President and CEO.

AIG acquires Ageas Protect, a provider of life protection products in the United Kingdom.

2015

AIG acquires Laya Healthcare, a leading health insurance provider in Ireland.

2017

Brian Duperreault is named AIG President & CEO.

2018

AIG acquires Ellipse, a specialist provider of group life risk protection in the UK.

AIG acquires Validus Holdings, Ltd. a leading provider of reinsurance, primary insurance, and asset management services.

AIG becomes the Title Sponsor of the Women’s British Open (now AIG Women’s Open).

2019

AIG named official insurance partner of the PGA of America.

2020s

2020

Peter Zaffino appointed President of AIG.

2021

Peter Zaffino is named Chief Executive Officer.

 

AIG and Blackstone close transaction relating to Life & Retirement business.

2022

Peter Zaffino appointed Chairman of the AIG Board of Directors.