Valic history

In 1960 he joined American International and was assigned the task of developing an overseas accident and health business.

In an effort to stabilize earnings, AIRCO sold American Home's agency business to another insurer in 1962.

Greenberg was elected president and CEO of AIG in 1967.

At the end of 1968, AG surpassed $1 billion in assets when it acquired a 65-year-old regional insurer, the Life and Casualty Insurance Company of Tennessee.

In 1970 AIU and its agencies and subsidiaries became wholly owned subsidiaries of AIG.

His success in bringing Cal-West back to profitability drew notice from AG, and he was hired by AG in 1975 as president, overseeing the network of acquisitions made by Woodson.

Consolidation and reorganization continued in 1976, when AIU stopped writing policies for insurance companies it did not own.

AIG absorbed its parent company, AIRCO, in 1978, completing a nine-year consolidation plan to simplify the corporate structure.

In 1979 AIG reported over $250 million in net income.

In 1981 AIG, in combination with Presidio Oil Company, purchased a majority interest in 109 natural gas wells.

In 1982, under this program, AG made the largest single life insurance company acquisition in history, with the purchase of NLT Corporation.

Some of AIG's specialty companies, such as AIG Oil Rig, AIG Energy, AIG Entertainment, and AIG Political Risk, which were created during the preceding 15 years, were consolidated in 1984 under the name AIG Specialty Agencies, Inc.

AIG broadened its trading markets in 1987 when it became the first foreign insurance organization on the Tokyo Stock Exchange.

In 1988, AG's consumer finance operations were doubled by the acquisition of the consumer finance division of Manufacturers Hanover.

On May 26, 1989, AG sold its property liability segment to Zurich Insurance Company--a multi-line, Swiss-based insurer--for $740 million.

At the May 2, 1990 annual meeting, Hook announced that AG was putting itself up for sale, and that he expected the company to fetch more than $7 billion.

UNAT, AIG's general insurance company on the European continent, was formed later that year to consolidate operations in Europe and prepare for the elimination of trade barriers among European nations in 1992.

The life insurance division includes American General Life and Accident; focusing on the door-to-door sale and service of traditional life insurance products in the home, this division accounted for about 44 percent of the corporation's operating earnings in 1993.

By 1994 operating income for the group had climbed to $404.9 million.

In 1996 the firm spent more than $100 million to acquire SPC Credit Ltd., a medium-size Hong Kong company specializing in consumer and commercial finance.

In 1997 it had $2.1 billion in revenue, $379 million in net income, and $40 billion in assets.

In November 2000 AIG acquired HSB Group Inc. for about $1.2 billion.

2001: AIG acquires American General Corporation for $23 billion; AIG reports losses of $820 million stemming from the events of September 11.

Liddy retired from Allstate in April 2008, but he continued to serve on some of the country’s most prestigious corporate boards, including 3M, Boeing, and Goldman Sachs.