Corporate Political Contributions
AIG suspended corporate political contributions in October 2008, and has not made any corporate contributions since that time to political candidates, parties, or committees; to Super PACs; for Independent political expenditures in support of or opposition to a campaign; for support of or opposition to Ballot Measures; or to 527 groups. Any decision to renew making corporate contributions more broadly would be taken by AIG management, and subsequent corporate contributions of that kind would be disclosed on the AIG public web site. Per AIG’s Code of Conduct, AIG funds or assets are never to be used for political purposes without first consulting with the Head of U.S. Federal and State Government Affairs or the Head of International Regulatory and Government Affairs.
AIG contributed to the following 501(c)4s:
AMERICAN INTERNATIONAL GROUP, INC. EMPLOYEE POLITICAL ACTION COMMITTEE and AMERICAN INTERNATIONAL GROUP, INC. EMPLOYEE STATE POLITICAL ACTION COMMITTEE (AIG PAC)
On January 13, 2021, AIG suspended its limited PAC activity for the foreseeable future. Management is currently reviewing AIG’s relationship with trade associations to ensure their respective policies are aligned with AIG’s values.
The AIG PAC was established to promote and facilitate the accumulation of voluntary employee contributions for the support of political parties and candidates for nomination or election to federal office in the United States, and for support of political parties and candidates at the nonfederal level in accordance with state and local law. All political contributions made by the AIG PAC are publicly disclosed and can be found at the Federal Election Commission at http://www.fec.gov/. All AIG PAC contributions are made in accordance with applicable federal and state laws, and without regard for the private political preferences of AIG executives.
AIG PAC Governance
The contribution strategy of the AIG PAC is overseen by the PAC Board of Directors, operating under its bylaws. The AIG PAC Chairman, PAC Board of Directors and PAC Treasurer communicate regularly to review and plan AIG PAC activities and contributions. The PAC Board reviews planned activities to ensure they are aligned with AIG’s business interests and are bipartisan in nature. AIG PAC supports candidates from both major political parties who share AIG’s vision and values or providing business and personal security associated with insurance solutions. AIG PAC may contribute to federal and state candidates or committees as appropriate and permissible by applicable laws.
In consultation with outside counsel, AIG developed processes governing political spending, and its Government Affairs and Compliance Departments work together to ensure its policies and procedures are strictly maintained.
The following are (i) the members of the AIG Employee Political Action Committee Board of Directors and the Bylaws of the AIG Employee Political Action Committee and (ii) the members of the AIG Employee State Political Action Committee Board of Directors and the Bylaws of the AIG Employee State Political Action Committee:
Federal Lobbying Disclosure Act (LDA) Compliance
The Lobbying Disclosure Act of 1995 (“LDA”), as amended by the Honest Leadership and Open Government Act of 2007, governs lobbying of both the Congress and the Executive Branch. In compliance with the LDA, AIG files quarterly lobbying reports (LD 2s) which publicly disclose all federal lobbying activities. In accordance with the LDA guidelines administered by the Clerk of the House and the Secretary of the Senate, AIG reports all expenses related to lobbying, including: 1) overhead cost; 2) Travel; 3) a portion of employee salaries that were spent on lobbying activities or preparing for lobbying contacts; 4) fees paid to outside lobbying consultants; and 5) portions of trade association dues that are deemed nondeductible and are related to lobbying activities. In addition, all issues that the company is currently lobbying and the entities lobbied are disclosed. Past LD2 reports can be found at https://soprweb.senate.gov/index.cfm?event=selectfields. Reports for the last year are below.
AIG Trade Association Fees Allocated to Lobbying or Political Activities
AIG belongs to various trade associations that assist in advocating public policies affecting AIG and the insurance sector. Links below reflect the portion of AIG’s payments to trade associations (whose annual fees are $25,000 or more) that was allocated to lobbying activities.
- AIG Year-End 2020 Trade Association Fees Attributable to Lobbying
- AIG Mid-Year 2020 Trade Association Fees Attributable to Lobbying
- AIG Year-End 2019 Trade Association Fees Attributable to Lobbying
- AIG Mid-Year 2019 Trade Association Fees Attributable to Lobbying
- AIG Year-End 2018 Trade Association Fees Attributable to Lobbying
- AIG Mid-Year 2018 Trade Association Fees Attributable to Lobbying
- AIG Year-End 2017 Trade Association Fees Attributable to Lobbying
- AIG Mid-Year 2017 Trade Association Fees Attributable to Lobbying
- AIG Year-End 2016 Trade Association Fees Attributable to Lobbying