Finance AIG - Business Essay Example
American International Group, Inc (AIG), are world leaders in the realm of insurance and financial services and led the international insurance organization with operations in more than 130 countries and jurisdictions (American International Group, Inc). American International Group, Inc provides commercial, individual, and institutional customers in the most extensive property-casualty and life insurance networks of any insurer (American International Group, Inc). AIG companies are the largest of commercial and industrial insurance, in the United States; and AIG American General is a top-ranked life insurer (American International Group, Inc).
Additionally, their companies are leading providers of retirement and financial services, and asset management. These financial services include aircraft leasing, financial products, trading and market making (American International Group, Inc). AIG has a growing global consumer finance business, which is led by American General Finance. “AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate,” states AIG (American International Group, Inc). The company’s common stock is listed in the New York and ArcaEx stock exchanges, as well as London, Paris, Switzerland, and Tokyo (American International Group, Inc). Financial Services Operational Income rose 1.77 billion in 2001 to 4.28 billion in 2005.
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American International Group, Inc focuses on growth. Strategies for enhancing growth focus on new markets, expanding distribution channels, and broadening product offerings (American International Group, Inc). American International Group, Inc has one of the most premier service businesses in the world. An extensive international service network is able to meet the growing needs of groups and individuals in different countries worldwide (American International Group, Inc). Life Insurance & Retirement Operation Income ascended 5.03 billion in 2001 to 9.06 billion in 2005.
Asset Management Group businesses include institutional and retail asset management, broker-dealer services, private banking and spread-base investment businesses from the sale of assured investment contracts (American International Group, Inc). AIG has weight against inferior groups due to its knowledge of markets across the globe and proficiency in wide range of asset classes (American International Group, Inc). AIG’s Asset Management Operation Income climbs to 2.25 billion in 2005 from 1.02 billion in 2001.
American International Group, Inc had a cash and invested asset totaling 691.77 billion at the end of 2005, opposed to 649.83 billion – 6.5 percent increase. From this total, General Insurance Operations equaled 13.7 percent; Life Insurance & Retirement Service Operations totaled 54 percent, 21.7 percent from Financial Service Operations, 10.5 percent from Asset Management Operations, and less than one percent from other sources (American International Group, Inc). General Insurance net investment income grew 26.1 percent and Life Insurance & Retirement net investment income grew 18.8 percent in the years-end of 2005 – that is substantial (American International Group, Inc).
American International Group, Inc is a proven leader in the world of insurance and financial services. Operating in over 130 countries and jurisdictions, AIG continues to provide customers, individuals and otherwise, with an extensive arrangement of products and services. AIG is currently ranked ninth on Fortune 500’s list. This conglomerate focuses on growth and has the strategies to do so. American International Group, Inc has continued growth and has sizeable growth within the last few years. There is no stop to the growth; and there is no reason why AIG should not have future success.
About AIG. AIG 2005 Annual Report. Date visited 15 April 2006.
AIG at a Glance. AIG 2005 Annual Report. Date visited 15 April 2006.
Investments. AIG 2005 Annual Report. Date visited 15 April 2006.