Bailed-out insurer American International Group will review its succession plans after its chairman accepted a job as the chief executive of an airplane maker, the company said on Tuesday. AIG CEO Bob Benmosche has been in treatment for cancer since …
American International Group’s CEO Robert Benmosche recently told the board directors that he wants to stay in his job longer than previously planned, according to a report. The Wall Street Journal reported last Friday that Benmosche signaled he is “in …
Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry struggles with rising claims, AIG’s chief executive said Friday. Mortgage insurers have been struggling, with losses mounting and capital …
Bailed-out insurer American International Group took another step toward winding down its U.S. government support Monday by securing $4.3 billion of bank credit lines, and company shares surged. AIG’s shares closed up 9.3 percent, or $5.05, to $59.38 on the …
During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on it. “Somebody came by, grabbed the umbrella and broke …
Jim Millstein is no stranger to troubled companies. With a long career as a bankruptcy lawyer and former head of Lazard Ltd’s restructuring practice, he’s done his share of turnarounds. But nothing prepared him for the firestorm that was American …
The U.S. Treasury Department plans to sell a large piece of its stake in American International Group in two stock offerings next year, officials briefed on the situation told Reuters. It would sell any remaining stock in AIG in 2012, …
The U.S. Treasury plans to sell about one-fifth of insurer AIG through a stock offering in the first half of 2011, an important test of the government’s ability to profitably exit one of its most controversial bailouts. American International Group …
American International Group is considering another debt offering after the success of its $2 billion sale earlier this week, Chairman Steve Miller said on Thursday. In an interview at The Deal’s Deal Economy conference Miller said, “Well, we’re having second …
AIG may be getting healthier, but it hasn’t fully recovered. When AIG sold $2 billion of debt on Tuesday, it had to offer fat interest payments to investors. The extra yield it paid over Treasuries, a measure of how much …
