AIG AIG
Founded in 1919 by Cornelius Vander Starr, AIG began as a modest insurance operation and swiftly evolved into a global behemoth known for its knack for getting entangled in high-stakes messes. The company hit its zenith with an almost absurdly expansive reach, only to plunge into a scandalous abyss in 2008 when it required an $85 billion bailout to stave off collapse—thanks to some spectacularly bad bets on mortgage-backed securities. This bailout, wrapped in controversy and cloaked in criticism, did little to dent AIG’s monstrous valuation which still hovers in the tens of billions. Despite an unflattering reputation for its role in the financial crisis, AIG continues to chug along, propped up by a series of restructuring efforts and new management. Peter Zaffino, its current CEO, is tasked with the Herculean job of revamping a brand as tarnished as its credit rating was in 2008. Under his stewardship, AIG has aimed to shed its baggage and recast itself as a more stable entity, though whether it can truly reinvent itself remains to be seen.