Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
Why AIG Omitted JP Morgan from Underwriters for Life Insurer IPO
Feb 12 2010 // American International Group Inc. turned down JPMorgan’s attempts to get in on the estimated $10 billion Hong Kong IPO of its Asian life insurance unit, sources involved with the deal said on Friday, in a snub partly...
MetLife May Pay AIG in Stock, Cash for Life Insurance Unit
Feb 10 2010 // MetLife Inc. plans to pay American International Group Inc. in stock and cash for American Life Insurance Co. (Alico), as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter...
AIG Hires KeyCorp’s Hancock to Oversee Finance, Risk
Feb 8 2010 // American International Group Inc. is expected to hire Peter Hancock, a KeyCorp vice chairman and financial services veteran, in a newly created role, overseeing finance, risk and investments, according to two sources close...
Treasury Chief Geithner Says Bank Fee Can Recoup AIG Bonuses
Feb 4 2010 // U.S. Treasury Secretary Timothy Geithner said Wednesday that insurer AIG’s multimillion-dollar bonus contracts were “outrageous,” but Congress can help recoup these payments by passing an Obama...
AIG Retention Bonuses Will Be Completed in March, Says Pay Czar
Feb 3 2010 // President Barack Obama’s pay czar Wednesday predicted the issue of hefty bonuses for AIG employees would end in March and denied a Republican claim that the firm outmaneuvered the Obama administration. “It ends...
AIG Filing Casts Doubt on ‘Limited Exposure’ Claim
Feb 1 2010 // A controversial regulatory filing detailing the federal bailout of American International Group Inc. could put the spotlight back on the former executive who headed the division most responsible for the insurer’s...
AIG Financial Product Employees Accept Retention Pay Cuts
Jan 29 2010 // Most current employees at the financial products unit of American International Group Inc. eligible for money owed them under a retention plan told the company they would accept less money in return for an earlier payout,...
Lawmakers Turn Up Heat on Treasury Chief Geithner Over AIG
Jan 28 2010 // U.S. lawmakers challenged Treasury Secretary Timothy Geithner’s credibility on Wednesday after he said he was not involved in a decision by bailed-out insurer AIG to withhold details about $62 billion paid to...
U.S. Treasury Investigator Says French Regulator Was Open to AIG Talks
Jan 27 2010 // An overseer for the U.S. bailout program said Tuesday that France’s banking regulator was open to further negotiations over possible concessions on payments from bailed out insurer AIG, according to prepared...
Treasury Chiefs Paulson, Geithner Defend AIG Bailout
Jan 27 2010 // Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a...
Treasury Secretary Geithner Denies Role in AIG Disclosure
Jan 27 2010 // U.S. Treasury Secretary Timothy Geithner flatly denied any role in counseling American International Group Inc. to keep quiet about payments it made to leading banks during a 2008 rescue of the stricken insurer. Geithner...
AIG Reportedly Scraps Plans to Sell Aircraft Leasing Unit
Jan 26 2010 // American International Group has decided not to sell its aircraft leasing unit, International Lease Finance Corp, the Financial Times said, citing people close to the situation. AIG has realized that it will not reap a big...
Bailout Watchdog Launches Probes of N.Y. Fed’s Disclosure on AIG
Jan 26 2010 // A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s disclosure of payments to banks after its 2008 rescue, excerpts of prepared...
AIG Asks Financial Product Employees to Take Retention Pay Cut
Jan 26 2010 // American International Group Inc. has given employees of its Financial Products unit until Tuesday to accept a cut in money owed them under a retention plan in return for an earlier payout, according to proposals obtained...
SEC Considered National Security Status for AIG Bailout Details
Jan 25 2010 // U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security,...
Declarations
Jan 24 2010 // No Effective Legal Means “We had no effective legal means to step in and prevent default (at AIG) … without helping this firm meet all its legal obligations.” —U.S. Treasury Secretary Timothy Geithner...
Declarations
Jan 24 2010 // No Effective Legal Means “We had no effective legal means to step in and prevent default (at AIG) … without helping this firm meet all its legal obligations.” —U.S. Treasury Secretary Timothy Geithner...
Geithner Denies Role in Hiding AIG Payments to Banks
Jan 24 2010 // U.S. Treasury Secretary Timothy Geithner said this month the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments...
SEC Order Keeps Some AIG Bailout Terms Sealed Until 2018
Jan 24 2010 // It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the...
AIG Owes $195 Million to Financial Product Unit Employees
Jan 21 2010 // A substantial number of AIG’s Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said Wednesday. This will be...
