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American General Annuity Service Corporation - Yesterday, Today, and Beyond

By Edited Nov 13, 2013 0 0

American General Annuity Service Corporation

American General Annuity Service Corporation has a long history in the banking world. It started out humbly enough but soon grew to be a major force in the insurance industry.

In the Beginning
American General Annuity Service Corporation began operation in 1926 and was started by Gus Sessions Wortham who was from Houston. Originally, it was only an insurance company. But over the years more services were added to American General Annuity Service Corporation. The company had a large amount of success and growth throughout the 1930's.

American General Annuity Service Corporation And its Numerous Acquisitions
In the 1950's the company began acquiring other similar companies. This project began under the direction of Benjamin Woodson. The company purchased several insurance companies in numerous states throughout the 1950's and 1960's. Perhaps the greatest acquisition of American General Annuity Service Corporation was in 1964 when it purchased the Maryland Casualty Company which was based in Baltimore. This more than doubled its size.

Numerous acquisitions continued, especially during the 1980's. American General Annuity Service Corporation took over 20 smaller companies during that decade alone.


American General Annuity Service Corporation Is Acquired
There were several takeover attempts during the history of American General Annuity Service Corporation. The first one was in the early '80's. However, it was unsuccessful. Torchmark Corporation offered a bid to the company in 1990. But that offer was also declined. However, in 2001, AIG successfully acquired the company. After over three quarters of a century of dominating the insurance market, American General Annuity Service Corporation was taken over by a larger conglomerate.

American General Annuity Service Corporation Today
The company has kept its name, despite the takeover by AIG. However, American General Annuity Service Corporation did turn many of it's operations over to the larger company. The combination of the two large companies has benefited both. Now, American General Annuity Service Corporation has an opportunity to do more business abroad. And AIG has gained a much larger North American consumer base.

American General Annuity Service Corporation Contact Information
If you are interested in doing business with American General, or if you are already one of their customers, then there are several ways that you can contact them. The easiest way is probably through there website. On the site you can make a loan payment, apply for a loan, and find a local branch, among other things. Or if you'd prefer to speak to someone from the company then you can reach the customer service department of American General Annuity Service Corporation at 1-800-961-5577.

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