March 2, 2010
As American International Group Inc. prepares to shed two big units, it looks set to follow the same path as Citigroup Inc. out from under the U.S. government’s wing. The government is likely to follow an exit strategy similar to …
February 28, 2010
American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout money, sources familiar with the …
February 26, 2010
American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the …
February 25, 2010
The Obama administration’s pay czar said his attempts to renegotiate valid pay contracts at bailed-out companies, particularly insurer AIG, has been a “unique challenge,” according to testimony released Wednesday. Kenneth Feinberg, a Washington lawyer appointed by President Barack Obama last …
February 23, 2010
A U.S. judge on Monday certified a class action lawsuit for stockholders, but not bondholders, against American International Group Inc. U.S. District Judge Deborah Batts denied a request by three Ohio state public pension funds to certify the class of …
February 23, 2010
To many Americans, it’s a matter of common sense: traders who failed so spectacularly at their jobs that they nearly brought down the global economy should be fired, not rewarded with handsome bonuses. Yet AIG, the fallen insurer, paid out …
February 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 stemming from soured …
February 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 said Tuesday. …
February 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 to the insurer. AIG, which was propped …
February 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 administration proposal to levy fees on large financial firms. “Those contracts were outrageous and …