Who Owns AIG Company?

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Who owns American International Group, Inc. (AIG)?

Understanding who owns a company is key to grasping its direction and accountability. For AIG, a significant ownership shift occurred during the 2008 financial crisis when the U.S. government stepped in with a bailout, becoming its majority owner. This event underscored how ownership can dramatically shape a company's trajectory and its wider economic influence.

Founded in Shanghai in 1919 by Cornelius Vander Starr, AIG began as American Asiatic Underwriters. Starr envisioned a global insurance and investment enterprise, a vision that has seen the company grow into a major international player. Today, AIG is headquartered in New York City and offers a broad spectrum of insurance products, including property casualty and life insurance, alongside retirement solutions, serving clients in over 80 countries.

As of 2023, AIG employed 25,200 people. The current AIG ownership structure is primarily held by institutional investors and public shareholders, a notable change from its early days and the period of government stewardship. This evolution in AIG stock ownership reflects its journey as a publicly traded entity. Many are interested in the AIG BCG Matrix to understand its product portfolio's market position.

The question of AIG ownership traces back to its founding and evolves through significant investment phases. Initially a privately held entity, AIG's journey includes periods of substantial government involvement and subsequent divestment. Examining AIG's company history ownership reveals a dynamic interplay of private capital and public interest. The company's stock symbol is AIG, and it is indeed a publicly traded company, not a private one.

Delving deeper into AIG shareholders, we find a diverse group of entities that collectively hold significant portions of the company's stock. Identifying the major shareholders of AIG is crucial for understanding who controls AIG stock. The company's board of directors plays a vital role in its governance, with their decisions impacting the direction of AIG financial services ownership. The AIG acquisition history also sheds light on its growth and structural changes.

The evolution of AIG's ownership structure is a testament to its resilience and adaptability in the global financial landscape. From its origins to its current status as a publicly traded entity, understanding who owns AIG provides critical insights into its operations and strategic outlook. The company's journey, including its IPO when did AIG go public, is a significant part of its corporate narrative.

The origins of AIG, or American International Group, Inc., trace back to Cornelius Vander Starr, an American businessman. At the age of 27, Starr founded American Asiatic Underwriters (AAU) in Shanghai, China, on December 19, 1919. Starr, born in California, had prior experience in sales, including ice cream and automobile insurance, before venturing into the insurance agency business. His initial operation was quite modest, starting in a two-room office with just two clerks, primarily focusing on underwriting for insurance companies located in Shanghai.

Over the subsequent years, Starr significantly expanded his portfolio by representing additional insurance companies, including Globe & Rutgers Company and National Union Fire Insurance. In 1921, he established the Asia Life Insurance Company (ALICO), also in Shanghai. By 1926, Starr had established his first U.S. office, American International Underwriters (AIU) Corporation, in New York. This entity served as an underwriter for U.S.-owned risks situated outside of North America. The growing geopolitical tensions leading up to World War II prompted Starr to relocate his headquarters from Shanghai to New York City in 1939.

While specific details regarding initial equity splits or shareholdings at the company's inception are not publicly available, AIG was incorporated as American International Group, Inc. in 1967. This marked the creation of a unified umbrella organization for the majority of C.V. Starr's general and life insurance businesses. The company then proceeded to go public in 1969. A pivotal moment in the company's early ownership and strategic direction occurred in 1968 when Starr hand-picked Maurice 'Hank' R. Greenberg as his successor, indicating a clear succession plan and a deliberate transfer of leadership and control. The foundational vision of the founding team was strongly centered on international expansion and the diversification of insurance products, which laid the groundwork for its early growth trajectory.

Founder's Vision

Cornelius Vander Starr founded the company in Shanghai in 1919. His vision was to build an international insurance enterprise.

Early Expansion

Starr expanded his operations by representing more insurance companies and establishing life insurance entities. He also opened the first U.S. office in 1926.

Headquarters Relocation

Due to World War II, Starr moved the company's headquarters from Shanghai to New York City in 1939. This marked a significant shift in its operational base.

Incorporation and Public Offering

American International Group, Inc. was incorporated in 1967 as an umbrella organization. The company went public in 1969, making its stock available to the public.

Succession Planning

C.V. Starr identified Maurice 'Hank' R. Greenberg as his successor in 1968. This ensured a planned transition of leadership and strategic direction.

Founding Principles

The early growth of the company was built on a vision of international expansion and product diversification. This strategy was fundamental to its initial success.

Early Ownership and Growth Drivers

The initial ownership structure of AIG is not detailed publicly, but the company's early growth was driven by C.V. Starr's strategic decisions, including international expansion and diversification of insurance products. The company's public offering in 1969 and the succession plan put in place by Starr were critical in shaping its future ownership and direction, allowing it to navigate the evolving financial landscape and compete effectively, even as it faced competition from other major players in the Competitors Landscape of AIG.

• Founded by Cornelius Vander Starr in Shanghai, China, on December 19, 1919.
• Initial operations were modest, focusing on underwriting for Shanghai-based insurance companies.
• Expanded representation to include Globe & Rutgers Company and National Union Fire Insurance.
• Established Asia Life Insurance Company (ALICO) in Shanghai in 1921.
• Opened first U.S. office, American International Underwriters (AIU) Corporation, in New York in 1926.
• Moved headquarters to New York City in 1939 due to World War II.
• Incorporated as American International Group, Inc. in 1967.
• Went public in 1969.
• Maurice 'Hank' R. Greenberg was chosen as successor in 1968.

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The ownership trajectory of AIG has been significantly shaped by pivotal events, most notably the 2008 financial crisis. During this period, the U.S. government stepped in with substantial financial support, amounting to approximately $182 billion, which temporarily positioned the government as AIG's largest stockholder. At its peak, the U.S. Treasury held a commanding 92% of AIG's common stock. This government stake was systematically reduced, culminating in the Treasury's sale of its final 234.2 million shares in December 2012 for roughly $7.6 billion. This divestment marked the complete repayment of the government's financial assistance, yielding a combined positive return of approximately $22.7 billion for the Treasury and the Federal Reserve Bank of New York.

Following these significant government interventions, AIG's ownership structure has evolved into a widely dispersed model, characterized by a substantial presence of institutional investors and public shareholders. As of July 18, 2025, the company reports 1936 institutional owners and shareholders collectively holding 673,562,703 shares. Key institutional stakeholders, based on filings from March 31, 2025, include Vanguard Group Inc. with 62,452,826 shares, BlackRock, Inc. holding 51,475,822 shares, State Street Corp with 27,097,466 shares, Capital Research Global Investors owning 26,063,252 shares, and Wellington Management Group Llp with 25,430,494 shares. This concentration of institutional holdings means that as of July 14, 2025, institutional ownership accounts for a substantial 95.33% of AIG's total outstanding shares, underscoring the significant influence of these entities in the AIG company owners landscape.

A notable strategic maneuver in AIG's recent history involved the deconsolidation of its life and retirement business, Corebridge Financial. Through a series of secondary market transactions, including the sale of a 21.6% stake to Nippon Life Insurance Company, AIG reduced its ownership in Corebridge to 22.7% by the end of 2024. This strategic move, finalized in 2024, has effectively repositioned AIG to concentrate on its core global general insurance operations, reflecting a deliberate capital redeployment strategy and a sharpened focus on its primary business lines, impacting the overall AIG stock ownership.

Understanding AIG's Shareholder Base

AIG's ownership is predominantly held by large institutional investors, indicating a stable and professionally managed shareholder base. This concentration of ownership influences the company's strategic direction and governance.

• AIG is a publicly traded company, meaning its shares are available for purchase on stock exchanges.
• Institutional investors hold the vast majority of AIG stock ownership.
• Key institutional shareholders include Vanguard, BlackRock, and State Street.
• The company's ownership structure has evolved significantly since its public listing in 1969 and the 2008 financial crisis.
• Recent strategic decisions have focused AIG on its general insurance business.

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The Board of Directors at AIG is instrumental in guiding the company's strategic direction and ensuring robust corporate governance. This body is composed of a blend of independent directors, bringing external perspectives and specialized knowledge, alongside key executive leadership. As of early 2025, Peter Zaffino holds the dual positions of Chairman and Chief Executive Officer, consolidating leadership responsibilities.

Recent additions to the board underscore a commitment to enhancing the collective expertise. For example, John (Chris) Inglis, formerly the National Cyber Director, joined as an independent director effective March 1, 2024, bolstering AIG's cybersecurity capabilities. James (Jimmy) Dunne III was appointed as an independent director on December 1, 2023, contributing significant financial expertise. Furthermore, Courtney Leimkuhler, co-founder and Managing Partner of Springbank, became an independent director on November 5, 2024, bringing valuable insights into capital markets and risk management. The board also includes other notable members such as Peter R. Porrino (Chair of Board Committees), Paola Bergamaschi, Vanessa A. Wittman (Chair of Risk Committee), Linda A. Mills, James Cole, Jr. (Chair of Nominating and Corporate Governance Committee), Diana M. Murphy, and John G. Rice (Lead Independent Director).

AIG adheres to a standard one-share-one-vote system, a common practice for publicly traded entities, meaning voting power directly correlates with the number of common shares held. There are no indications of special share classes that would grant disproportionate control to any specific shareholders. Given the substantial institutional ownership, major investment firms collectively hold significant voting power, influencing key corporate decisions, director elections, and executive compensation packages. AIG actively engages with its shareholders, having connected with investors representing 70% of outstanding shares and holding meetings with those representing 54% of shares outstanding throughout 2024 and early 2025 to gather feedback on various strategic matters, reflecting a commitment to understanding and incorporating shareholder perspectives, which is a key aspect of their Growth Strategy of AIG.

Understanding AIG's Shareholder Influence

The voting power within AIG is distributed based on share ownership, with institutional investors playing a significant role. This structure ensures that major shareholders have a voice in the company's direction.

• AIG operates on a one-share-one-vote principle.
• Institutional investors hold substantial voting power.
• Shareholder engagement is a priority for the company.
• Key decisions are influenced by the collective voting strength of shareholders.

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In the last three to five years, AIG has significantly adjusted its ownership structure through deliberate capital management and portfolio adjustments. A notable development has been the ongoing reduction of its stake in Corebridge Financial, Inc., its former life and retirement services segment. By the close of 2024, AIG's ownership of Corebridge common stock had decreased to approximately 22.7%, a result of several transactions that collectively generated about $6.0 billion in gross proceeds. This strategic move is part of AIG's broader plan to streamline its operations and concentrate its efforts on its global general insurance business.

The company has also been proactive in returning capital to its shareholders. Throughout 2024, AIG returned a total of $8.1 billion to shareholders. This included $6.6 billion used for share repurchases, which reduced the total number of outstanding shares by 12%. Additionally, $1.0 billion was distributed as dividends, and $500 million was allocated to preferred stock redemptions. In the first quarter of 2025 alone, AIG returned approximately $2.5 billion to shareholders, with $2.2 billion directed towards common stock repurchases (representing about 29 million shares) and $234 million paid out as common stock dividends. The Board of Directors has committed to a quarterly cash dividend of $0.45 per share starting in the second quarter of 2025, continuing a trend of double-digit percentage increases for the third consecutive year. Furthermore, AIG announced a new share repurchase program, authorizing the buyback of up to $7.5 billion of its common stock, effective April 1, 2025.

Industry trends are also shaping AIG's ownership landscape, particularly the rise in institutional ownership, which is clearly reflected in AIG's shareholder composition. With 95.33% of its stock held by institutions as of July 14, 2025, there is often increased focus on corporate governance and environmental, social, and governance (ESG) considerations. AIG's objective is to reduce its outstanding share count to below its target range of 550-600 million shares by the end of 2025, provided market conditions remain favorable. Management has expressed confidence in the company's future earnings potential and strategic flexibility, reinforcing its dedication to enhancing shareholder value.

Capital Allocation Strategy

AIG's capital allocation strategy prioritizes returning value to shareholders. This is evident through significant share repurchases and consistent dividend payments. The company aims to optimize its capital structure while supporting its core insurance operations.

Corebridge Financial Divestiture

The strategic deconsolidation of Corebridge Financial marks a pivotal shift for AIG. This move allows AIG to focus more intently on its general insurance business. The divestiture has also provided substantial capital for shareholder returns and strategic initiatives.

Shareholder Returns in 2024-2025

In 2024, AIG returned $8.1 billion to shareholders, including $6.6 billion in share repurchases. The first quarter of 2025 saw an additional $2.5 billion returned. These actions demonstrate a strong commitment to enhancing shareholder value through capital distribution.

Institutional Investor Influence

The high percentage of institutional ownership, at 95.33% as of July 14, 2025, suggests a significant influence from large investment firms. This often leads to increased attention on corporate governance and ESG performance, aligning with broader market trends. Understanding the Brief History of AIG can provide context for these evolving ownership dynamics.

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