AIG secures wider shareholder support over executive pay

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It looks like the changes made by American International Group (AIG) to its executive compensation programme have worked in getting greater backing from shareholders, as reflected by the voting results at AIG’s annual shareholder meeting.

This week saw AIG shareholders show support for the proposals put forward by the insurance group’s board of directors, including on executive pay. The non-binding advisory resolution to approve executive compensation garnered a whopping 659,862,264 shares for, versus the 42,638,072 shares that were against.

The 94% favourable outcome signifies a major leap from last year’s 55%.

So what did AIG do differently? According to the

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AIG approaches shareholder pay vote with cautious approval from proxy firms

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(Reuters) – American International Group Inc (AIG.N) faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay.

FILE PHOTO: American International Group Inc. (AIG) headquarters seen on the day of the companyÕs 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn

Investors offered relatively weak support for AIG’s pay proposals in the prior two years during the era of Chief Executive Officer Brian Duperreault, who joined the U.S. insurer in May, 2017 with a lucrative package

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AIG quarterly profit nosedives as COVID-19 claims loom

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(Reuters) – Insurer American International Group Inc (AIG.N) on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever seen.

FILE PHOTO: American International Group Inc (AIG) headquarters seen on the day of the company’s 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn/File Photo

AIG, one of the largest U.S. insurers, posted an underwriting loss of $87 million in its general insurance business in the first

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AIG breaks records with new Lloyd’s syndicate

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American International Group, Inc. (AIG) made history on Monday with the launch of the largest ever syndicate through Lloyd’s.

Syndicate 2019 has been set up to exclusively reinsure risks from AIG’s Private Client Group (PCG), which has a leading market position in the high net worth (HNW) segment. AIG has secured significant capital support for the syndicate from third-party investors and capacity providers. When combined with its existing Lloyd’s operations, AIG now operates the ninth largest managing agency in the Lloyd’s market, in terms of capacity.

“Syndicate 2019 is a unique and industry-defining structure between AIG and the oldest insurance

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