This is one of the largest financial service organizations of the United States, and is considered to be a market leader in terms of retirement services, investments as well as life insurance and consumer loan services. The company has assets worth $ 123 billion and market capitalization of $20 billion. The main purpose of the company is to help the people meet their financial services. The shareholders provide you with purpose and value; ands strive to provide great financial returns for the company. We have an excellent network of sales with 1812 financial advisors, with 36000 financial institutions and 20000 agents with different kinds of innovative products.
American General Operating Companies
The operating Companies of America General provide you one of the largest financial services of the nation.
Retirement Services that are provided by these companies are designed in such a way, so that they provide a secure retirement policy. There is a focus on design, delivery and support of the different medical plans that serve almost 2 million customers. We are also considered to be a leading provider of the different kinds of annuities.
Life Insurance Policies help to bring financial security and also peace of mind to the many policyholders. There are spectrums of products that are offered, providing solutions to one of the most diverse distribution networks.
There are many distribution channels that include 28000 independent agents, 5000 career agents and 10000 registered representatives of the company. In the market there are wide spectrum of products that are specific to the market needs.
Consumer Finance helps to meet the lifetime borrowing needs of the customers. It has some of the nations largest branch office networks providing you with home mortgages, home equity loans, consumer loans and retail sales financing.
Investments-We are a company that has 50 years of experience in managing the investments and the portfolios of different clients. There are also individual and institutional investors that highly benefit from the advisory services that are provided by the company. There are $ 118 billion of assets under management.
History of American General
The history of the company bean in the year 1926,and after a long journey it became one of the leading providers of the retirement services, life insurance and consumer loans.1920s witnessed a phenomenal growth in the company and by 1930 the city was of twice its original size. It was in the year 1926 that the investors realized the dream among the three colleagues. Each of these people were willing to make an investment of $ 75,000.As soon as the finance became available, a new company was named. It was on May 7, 1926 that a charter was filed for the new company. Within a short span of three years the first dividend of America General was declared, thereby making an establishment of an unbroken tradition. The new company tried to reach more and more business opportunities, and the company launched the first wholly owned subsidiary.
Throughout the 1950s the company continued making acquisitions, and by the year 1960s acquisitions followed like clockwork. In the year 1960 the company entered the New York Life Insurance market, when Patriot Life Insurance Company was acquired. It was a year later that American General made a purchase of controlling interest in the Variable Annuity Life Insurance Company. In the later year there was an acquisition of Life and Casualty Insurance Company of Nashville, Tennessee. It was in this year itself that a milestone was reached by the company and the company crossed a limit of $ 1 billion in total assets. It was in the same year that the company started trading in the New York Stock Exchange, thereby making some of the most significant investments of the company. The next few years were also quite eventful for the company and in the year 1972 Woodson became the chairman and CEO of the company. The company changed its business from property liability insurance to a general business corporation, and was renamed as American General Corporation.
In the two-year period from February 1982 to January 1984, there was an increase in the number of acquisitions made by the company. The next few years for the company were also eventful with a period of streamlining, consolidations, and divestitures. In the year 1989 there was a sale of the companies group life and health insurance.
There were active periods of growth in the company, and the company gained many competitive strengths and leadership positions. There were other services that included retirement services, leadership services and other services that included the service of consumer finance.
The company has always had a dual strategy of internal growth and growth through mergers and acquisitions. If there is financial strength, consistent performance in the long run, it will have a proven structure that shall enable the company to grow and prosper in the 21st century.
In the last 20 years the company has made a record in building shareholder value, with an annual return to the shareholders of 20 %. The commitment of the company is reflected in the dividend record of the company. In the year 1929 the company provided the first dividend, and later paid quarterly dividends for more than 70 years. There was a compound annual growth of the company of over 12 %.
It was the year 1999 that the purposes of the company were defined and communicated to the employees. The main purpose of the company has always been to meet the lifetime financial needs of the people. The company has always been guided by its various policies and has been evaluating every strategy of the company from a good strategy to a better one.
The main aim of the company has always been to be a world leader in the different financial services to the chosen markets. Today the company is the largest public held life insurance Company that strives to produce some of the greatest financial returns to all its shareholders.
AIG American General
This company has been able to retain the Houston base, employing more than 4000 employees and customer service centers, across the different parts of the country in order to serve the intentions of the producers and customers.
The success of the company can always be related to being loyal to the families of all the Americans. This helps us to provide quality services and products to all our clients.