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.
When I started considering life insurance options, a friend of mine told me that they use American General. The cost is cheap compared to other life insurance companies, and American General treats customers with respect. I got a policy of my own.. Everyone with any financial sense will invest in a life insurance policy: American General is a good company to make that investment with. The workers at American General will help you with your questions and the policy was simple to start up.
Easy and Simple
When my mother passed away, I was the executor of her estate. I filled out the paperwork required, sent it to the department I was supposed to send it too, and was guided by American General representatives through the process. The claim was processed in a decent amount of time and the monies were used to pay off some of the pending debt that remained after my mother's passing. The remainder of the monies were then available to establish trust funds for her grandchildren.
I carry American General for my automobile insurance, for my home insurance, for my medical insurance, and for my life insurance. I've seen other family members have a terrible time with different insurance companies and I'm proud to say that I've never had any issues arise from working with American General. I have seen insurance companies that refuse to pay out after the death of a loved one; and I have seen insurance companies that refuse to pay when damages occur in an accident. At no time do I want my family to go through that kind of trouble when something significant happens. I am quite comfortable working with American General, they'll for quality service, reasonably priced policies, and I feel secure having insurance through the company.
Canceled for Late Payment
American General has absolutely horrid customer service! I always paid my bill on time and I was considered a valuable customer, or so I thought. Right around this time last year, when it came time for me to pay my premium, the bill had slipped my mind and I received a late notice. The minute I got the late notice I sent out my payment right away. The payment was processed and I had proof of it through the check and it was processed two days before the pending cancellation date. As far as I was concerned, everything was all set and I didn't get any further communication about my policy. A week or so past and I'm glad that I had the sense to check on the status of my policy since despite the fact that I made my payment the policy was canceled. When I explained to them that I paid for the policy and that they had cashed the check before the policy was supposed to be canceled they would not admit to a processing error and suggested to me that I should pay my bill in a more timely manner!
American General is fantastic in all of its dealings. I always get any kind of letters about renewals or payments immediately and they are not mysteriously lost in the mail somewhere. The claims processing is equally excellent: I know this first hand because I was in a collision in 2007. The driver of the other vehicle was at fault for the accident, I had several witnesses, and the driver was ticketed for unsafe driving practices. When I filed a claim, American General was extremely helpful and they did not unduly punish me for the fault of another driver. The process was fast and professional and I was reimbursed for all the damages on my car.
I decided to add a second vehicle. A week later, the engine blew. I called to cancel the premium on the second car. Three months later, I'm still paying premium for the un-drivable vehicle that was salvaged out for parts. After promises of "we will have everything right next month"...They are still trying to charge me!
Quick and Easy
As the beneficiary of my deceased wife's life insurance claim with American General Insurance, I was a little nervous about the entire claims process. First off, the last thing I needed was a troubling time when it came to cashing in the policy. But when I contacted American General's customer service center to let them know about my wife's passing, the representative was kind and quite sympathetic. She was extraordinarily courteous, sent me the claim form I required immediately and advised me that if I had any further questions or concerns when it came to filling out the form to contact them. She clearly pointed out what kind of documents were required when I submitted the claim and, I have to say, the lady made a difficult time in my life a little less difficult. I got the claim form within a few days, filed it, and the claim processing was quick and clear-cut.
My husband and I decided to get life insurance to protect our financial future in the awful event that something happened to one of us - we got our insurance through American General. Last year my husband passed away suddenly and, as you can imagine, I was emotionally distraught for quite some time. American General assisted me and they were very kind to me in my time of need. My husband always handled all of the financial responsibilities and dealt with all the paperwork so I was really unsure of what to do or how to go about claiming. The team is polite, courteous and I am eternally thankful for their kindness. They could have made a hard time more difficult but they didn't. Through a simple process I was able to get the life insurance monies I was due and I got to use the money to offset the loss of income due to my husband's death. American General took a load of worries off my mind.