Sunday, beleaguered insurer American International Group, Inc. (AIG), in a re-branding exercise, had decided to replace the AIG sign, outside the entrance to its premises, with AIU Holdings Ltd.
The New York-based AIG, once the numero uno insurer, lost its sheen since large losses on mortgage bets and received a government bailout of $85 billion last September. Subsequently, the company received two more aids totaling $180 billion of U.S. taxpayers money.
The AIG name became more tarnished after the reports of bonuses, to executives of controversial financial products unit that caused much of the $100 billion in losses over the past year, came out last week.
Since AIG's bailout last September, other businesses of the company have also been rechristened, mostly with their previous names.
AIG carried the American International name only since 1967, when the new company was incorporated to hold the shares of the group's growing insurance operations.
AIG Direct, for instance, changed its name to A U.S. auto insurance unit, which dates back to 21st Century and was used until 2007 when AIG, acquired 100% of the company.
AIG closed Friday's trading at $1.26, down $0.36 or 22.22% on a volume of 403.98 million shares on the NYSE.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.