AIG Replaces Chief Investment Officer
Thursday, Mar 05,2009, 1:56:18 PM Click:
AIG Replaces Chief Investment Officer Alyn Ackermann
American International Group Inc. has replaced its head of investment, the company said.
Monika M. Machon was named AIG Senior Vice President and Chief Investment Officer, responsible for the insurance company portfolio management in all asset classes.
She succeeds Neuger Win, who retains his post as president and CEO of AIG Investments, which manages client assets, "said spokesman Joe Norton AIG.
"It will be team leader of customer management of external asset management that AIG plans to sell," said Norton. He would not comment on what the status Neuger will, when the company is sold.
Machon will report directly to AIG President and CEO Edward J. Liddy. Machon joined AIG (NYSE: AIG) in 1998 and is currently the global head of fixed income securities of AIG Investments and serves as chairman of the board of AIG Investments Europe SA
AIG Investments AIG operated program lending. It has become a major cash flow problems that forced the insurer to the brink of bankruptcy in September, when the federal government has strengthened with a rescue plan that has increased by $ 150 billion . AIG is selling assets to help the resumption of loans rescue plan.
In addition, Jeffrey J. Hurd, AIG Investments, who is Director General, Chief Administrative Officer and General Counsel, was appointed Senior Vice President and Chief of the restructuring, which is responsible for the sale of AIG's external asset management and the AIG restructuring of the management of assets. He will report to AIG Vice President Paula R. Reynolds. Hurd will retain his current responsibilities before the sale.
AIG Investments has invested a large part of the collateral for the loans it has received securities in securities backed by mortgages, for which there is no market, which declined sharply in value, forcing AIG to return to counterparties in cash.
The New York Federal Reserve Bank has lent an entity created under the reform of the rescue plan approved in November, $ 19.8 billion to AIG which has added more than $ 6 billion to settle the transactions and the end program lending (BestWire December 16, 2008).
AIG Investments has also laid off 7% of its workforce in the world (BestWire, Dec. 16, 2008).
Most of AIG insurance subsidiaries have a current Best financial strength rating of A (Excellent) with a negative outlook.
AIG share was $ 1.40 in trading on the afternoon of January 20, down 0.70% from the close.
Copyright © 2009 hours Best Company, Inc. American International Group Inc. has replaced its head of investment, the company said. Monika M.
American International Group Inc. has replaced its head of investment, the company said.
Monika M. Machon was named AIG Senior Vice President and Chief Investment Officer, responsible for the insurance company portfolio management in all asset classes.
She succeeds Neuger Win, who retains his post as president and CEO of AIG Investments, which manages client assets, "said spokesman Joe Norton AIG.
"It will be team leader of customer management of external asset management that AIG plans to sell," said Norton. He would not comment on what the status Neuger will, when the company is sold.
Machon will report directly to AIG President and CEO Edward J. Liddy. Machon joined AIG (NYSE: AIG) in 1998 and is currently the global head of fixed income securities of AIG Investments and serves as chairman of the board of AIG Investments Europe SA
AIG Investments AIG operated program lending. It has become a major cash flow problems that forced the insurer to the brink of bankruptcy in September, when the federal government has strengthened with a rescue plan that has increased by $ 150 billion . AIG is selling assets to help the resumption of loans rescue plan.
In addition, Jeffrey J. Hurd, AIG Investments, who is Director General, Chief Administrative Officer and General Counsel, was appointed Senior Vice President and Chief of the restructuring, which is responsible for the sale of AIG's external asset management and the AIG restructuring of the management of assets. He will report to AIG Vice President Paula R. Reynolds. Hurd will retain his current responsibilities before the sale.
AIG Investments has invested a large part of the collateral for the loans it has received securities in securities backed by mortgages, for which there is no market, which declined sharply in value, forcing AIG to return to counterparties in cash.
The New York Federal Reserve Bank has lent an entity created under the reform of the rescue plan approved in November, $ 19.8 billion to AIG which has added more than $ 6 billion to settle the transactions and the end program lending (BestWire December 16, 2008).
AIG Investments has also laid off 7% of its workforce in the world (BestWire, Dec. 16, 2008).
Most of AIG insurance subsidiaries have a current Best financial strength rating of A (Excellent) with a negative outlook.
AIG share was $ 1.40 in trading on the afternoon of January 20, down 0.70% from the close.
Copyright © 2009 hours Best Company, Inc. American International Group Inc. has replaced its head of investment, the company said. Monika M.
You may also be interested in:
- The Coastal Bank selects T8 Webware
- Principal Financial Group CFO Terry Lillis to Speak at the Keefe, Bruyette & Woods (KBW) 2009 Insurance Conference
- Tips to Keep Your 401(k) Plan on Track
- Three Former Marsh Execs Found Not Guilty in Bid Rigging
- Former Gen Re Executive Who Cooperated With Feds Gets Two Years' Probation
Featured
Travelers Championship Officially Begins with Opening
NEW YORK--(BUSINESS WIRE)-- The 2009 Travelers Championship will officially
Hooper Holmes responded to the proposal of
Basking Ridge, NJ - (MARKET WIRE) - 04/15/09 - Hooper Holmes (NYSE AMEX: HH)
ENDING INSURANCE COMPANIES' CONTROL OF THE MARKET
For over sixty years, insurance companies have enjoyed a significant
Hot Stocks LiquidTycoon.com questions about the
Copyright: PR Newswire Source: PR Newswire Wordcount: 276 ROCHESTER, NY, March
Grisolia Richard at the head of marketing for
Copyright: PR Newswire Source: PR Newswire Wordcount: 388 Pawtucket, RI, March
Insurers Need Clear Attitude from CIRC
Insurers in China, which always show interest in IPO shares, did not subscribe
Healthcare Reform will Challenge Medicare-Eligible to
More than 600,000 seniors and people with disabilities will be required to
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Best's Review's Insurance Broker Ranking Shows Aon, Marsh at the Top, Shifting Lineup
- Universal Property & Casualty Insurance Co. Increases Bu
- AAA will drop homeowners' insurance policies in Louisiana
- Willis Group Holdings names CEO Tony Ursano, Willis Capital
- A.M. Best Downgrades Ratings of State Farm Florida Insurance
- Lightning-Related Insurance Claims Up
- A.M. Best Affirms Ratings of Auto-Owners Insurance Group and
- Berkshire Hathaway’s Insurance Subsidiaries Buck Property/C
- Nationwide Insurance, Allied Insurance Responding to Hail Storm in Denver Area
- European Insurance Asset Management Survey published
-
Illinois Knocks Down Triad's Cash Payments by 40% -
Reinsurers Refuel After Tough Year -
Wildfires and insurance(insurance news net) -
Homeowners with trackers face shock rise -
First-Quarter 2009 Results Show P/C Industry Well Capitalized Despite Net Loss After Taxes And Decline In Surplus -
P/C Industry's Net Income And Overall Profitability Tumbled In First-Half 2009 -
Brothers share key to insuring success -
Meeting Climate Change Head On


Discuss this news
Click Here to see all comments