Repercussions: the impact of the AIG crisis on its insurance subsidiaries

Research output: Contribution to journalArticlepeer-review

Abstract

Numerous studies have shown that insurance companies can be adversely affected by problems at a parent company or an affiliate – indeed, over the years, affiliate-related problems have been severe enough to cause the insolvency of many insurance companies. This paper provides a case study of affiliate risk, based on the experience of insurance companies that were part of the American International Group, Inc (AIG) during the global financial crisis of 2007/08. This case study raises many questions about the effectiveness of risk management and prudential supervision of large, complex, financial conglomerates.
Original languageEnglish
Pages (from-to)71-91
Number of pages21
JournalAustralian journal of actuarial practice
Volume3
Publication statusPublished - 2015

Keywords

  • systemic risk
  • affiliate risk
  • liquidity risk
  • AIG
  • global financial crisis
  • GFC

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