AIG has been selling off assets to pay off $150 billion in taxpayer supported loans that it secured to keep the company liquid after massive losses sustained by the conglomerate's Financial Products business.
In September the company announced the sale of AIG-Financial Products' 50 percent interest in London City Airport to Stamford, Conn.-based Global Infrastructure Partners of New York and London for an undisclosed amount. Some reports said the price may have been as high as $750 million.
AIG Private Bank provides banking and structured wealth management solutions to private and institutional clients. It is based in Zurich and has branches, representative offices and wealth management affiliates in Hong Kong, Singapore, Shanghai and Dubai. It was founded in 1965.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
