UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 SCHEDULE 13D/A
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. 9)

                               IPC HOLDINGS, LTD.
                                (NAME OF ISSUER)

                     COMMON SHARES, $.01 PAR VALUE PER SHARE
                         (TITLE OF CLASS OF SECURITIES)

                                   G4933P 10 1
                                 (CUSIP NUMBER)

                               KATHLEEN E. SHANNON
                       SENIOR VICE PRESIDENT AND SECRETARY
                       AMERICAN INTERNATIONAL GROUP, INC.
                                 70 PINE STREET
                               NEW YORK, NEW YORK
                                 (212) 770-7000
            (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
                     TO RECEIVE NOTICES AND COMMUNICATIONS)

                                August 15, 2006
             (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

IF THE FILING PERSON HAS PREVIOUSLY FILED A STATEMENT ON SCHEDULE 13G TO REPORT
  THE ACQUISITION WHICH IS THE SUBJECT OF THIS SCHEDULE 13D, AND IS FILING THIS
      SCHEDULE BECAUSE OF RULE 13D-1(b)(3) OR (4), CHECK THE FOLLOWING BOX:

                                       [ ]

                        (CONTINUED ON THE FOLLOWING PAGE)



---------------------
CUSIP NO. G4933P 10 1
---------------------

--------------------------------------------------------------------------------
(1)  Name of Reporting Person/S.S. or I.R.S.
     Identification No. of Above Person

     American International Group, Inc. (I.R.S. Identification No. 13-2592361)
--------------------------------------------------------------------------------
(2)  Check the Appropriate Box if a Member of a Group

     (a) [ ]

     (b) [ ]
--------------------------------------------------------------------------------
(3)  SEC Use Only

--------------------------------------------------------------------------------
(4)  Source of Funds
     WC
--------------------------------------------------------------------------------
(5)  Check if Disclosure of Legal Proceedings is Required
     Pursuant to Item 2(e) or 2(f)
     [ ]
--------------------------------------------------------------------------------
(6)  Citizenship or Place of Organization
     Delaware, U.S.A.
--------------------------------------------------------------------------------
                     (7)  Sole Voting Power
                          0
                     -----------------------------------------------------------
Number of Shares     (8)  Shared Voting Power
Beneficially Owned        0
By Each Reporting    -----------------------------------------------------------
Person With          (9)  Sole Dispositive Power
                          0
                     -----------------------------------------------------------
                     (10) Shared Dispositive Power
                          0
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
     0
--------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
     [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
     0%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
     HC, CO
--------------------------------------------------------------------------------



                                       -2-

This Amendment No. 9 (this "Amendment") to the Statement on Schedule 13D filed
by American International Group, Inc. ("AIG") amends Items 4 and 5 of AIG's
Statement on Schedule 13D (the "Statement") originally filed by AIG on April 9,
1996 and as amended by Amendment No. 2 filed on June 5, 1996, Amendment No. 3
filed on December 19, 2001, Amendment No. 4 filed on December 20, 2005,
Amendment No. 5 filed on April 20, 2006, Amendment No. 6 filed on August 8,
2006, Amendment No. 7 filed on August 10, 2006 and Amendment No. 8 filed on
August 11, 2006. The Statement relates to the common shares, par value $.01 per
share ("Common Shares"), of IPC Holdings, Ltd., a Bermuda corporation (the
"Company"). The principal executive offices of the Company are located at
American International Building, 29 Richmond Road, Pembroke HM08, Bermuda.

      Item 4. Purpose of Transaction.

          Item 4 is hereby amended to add the following:

The public offering of 15,397,000 common shares owned by AIG through Citigroup
Global Markets, Inc., as representative of the several underwriters, closed on
August 15, 2006.

As a result, AIG no longer has beneficial ownership of any Common Shares, and
accordingly it will no longer be subject to the requirement to file a Schedule
13D.

      Item 5. Interest in Securities of the Issuer.

(a) and (b). The information requested by these paragraphs is set forth in Items
7 through 11 and 13 of the cover page of this Schedule 13D.

(c) In the past 60 days, AIG has not engaged in any transaction in Common
Shares other than the public offering described in Item 4.

(d) Not applicable.

(e) August 15, 2006.


                                      -3-




                                    SIGNATURE

          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.

Dated: August 15, 2006

                                      AMERICAN INTERNATIONAL GROUP, INC.


                                      By: /s/ Kathleen E. Shannon
                                          --------------------------------------
                                      Name: Kathleen E. Shannon
                                      Title: Senior Vice President and Secretary


                                      -4-