American International Group, Inc. (AIG) is an American insurance company headquartered in New York City, founded in 1919 in Shanghai by Cornelius Vander Starr as an insurance agency before growing into a global insurance conglomerate. It became one of the largest insurers in the world, then nearly collapsed during the 2008 financial crisis after suffering large losses on credit default swaps it had written, requiring a United States government bailout of roughly 180 billion dollars, the terms of which the company later repaid in full.
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