American International Group, commonly referred to as AIG, is an insurance organization with a longstanding history in the financial services industry. AIG sells annuities, life insurance, general property insurance and casualty insurance.
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Sheena Zimmermann, M.Ed.
As a professional who values lifelong learning, Sheena Zimmermann joined the Annuity.org team with a deep commitment to connecting readers with resources designed to improve their financial literacy and strengthen their financial health.Read More
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- Updated: September 9, 2022
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AIG offers a broad range of insurance products to meet the needs of consumers in more than 80 countries worldwide. The insurer boasts a comprehensive product portfolio with a range of solutions for clients seeking financial security today and peace of mind in retirement.
In 1919, AIG originated as the American Asiatic Underwriters Agency in Shanghai. After founder Cornelius Vander Starr extended the organization’s services worldwide and established its U.S. base in New York City, he changed the company’s name to American International Underwriters.
In the decades that followed, AIU acquired several insurance groups and expanded its market presence, officially incorporating as AIG in 1967. In 1984, AIG began trading on the New York Stock Exchange.
- General Insurance
- Life & Retirement
On its website AIG emphasizes the common thread that connects its business units and their singular mission.
“What unites us across all of these offerings is our commitment to helping individuals, businesses and communities prepare for and respond to times of uncertainty.”
Each of AIG’s business units achieves this goal through specialized product offerings, including property and casualty insurance, life insurance and annuities.
As you compare annuity providers and their products, it is important to note which insurance companies have a reputation for reliability and a track record of financial stability.
Credit rating agencies such as S&P, Moody’s, Fitch and AM Best rank insurers based on their financial strength and claims-paying abilities (CPAs)
|AIG Senior Debt||BBB+||Baa2||BBB+||NR|
|AIG Non-Life Financial Stength||A+||A2||A||A|
|AIG Life Financial Strength||A+||A2||A+||A|
According to a white paper prepared by Fitch Ratings and published on the NAIC website, “As part of their regulatory oversight, the CRAs must report to regulators on an annual basis the performance of their ratings. Such default and impairment studies are a key way ratings users can judge ratings comparability.”
Annuity Products Offered by AIG
AIG issues a variety of annuities with specific features based on your needs. Current product options include variable annuities, fixed annuities and indexed annuities.
AIG offers the Polaris Variable Annuity as an option for retirement income. Variable annuities offer growth potential while protecting income and beneficiary payments. While the rate of return is not guaranteed, earnings can grow tax-deferred over time.
For anyone looking for the security of a guaranteed interest rate and predictable payments, AIG’s American Pathway Solutions MYG is a multi-year guaranteed annuity with four guarantee periods to choose from — five, six, seven or 10 years.
Indexed annuities, sometimes referred to as hybrids because they share the features of fixed and variable annuities, are tied to the performance of the financial markets. The Power Series Index Annuity blends upside market potential with downside protection.
With any annuity provider, you should receive high quality service and support throughout your purchasing journey. AIG has a professional team dedicated to helping clients prepare financially for what’s next.
AIG is also committed to their clients’ safety. The company has published a fraud warning resource on its website with helpful tips for protecting yourself and your accounts from phishing and other scams.
- Login security with secure sockets layer (SSL) technology
- Encryption of sensitive information
- Online security monitoring
- Firewalls to block unauthorized access
- Anti-virus and anti-malware protection
In addition to these protections, AIG points visitors to consumer advocacy organizations, including the Coalition Against Insurance Fraud and the National Consumers League.
Any information offered about the company above is provided free of charge and individual product offerings are verified and accurate as of publication.
Our partners work with the provider companies mentioned on our site. However, Annuity.org is not a service provider. Actual products, terms and rates offered through the above company are subject to in-state availability and a variety of other factors. Visit the Our Partners page for additional information.
5 Cited Research Articles
Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.
- American International Group, Inc. (n.d.). About Us. Retrieved from https://www.aig.com/about-us
- American International Group, Inc. (n.d.). Explore AIG’s Timeline. Retrieved from https://www.aig.com/about-us/history/timeline
- American International Group, Inc. (n.d.). Fraud Warning. Retrieved from https://www.aig.com/fraud-warning
- FINRA. (2010, September 13). Equity-Indexed Annuities: A Complex Choice. Retrieved from https://www.finra.org/investors/alerts/equity-indexed-annuities-complex-choice
- FitchRatings. (2016, July). Not All Insurer Financial Strength Ratings Are Created Equal. Retrieved from https://www.naic.org/documents/cipr_events_impact_rating_fs_handout.pdf
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