Filed Under:Carrier Innovations, Regulation/Legislation

AIG Provides Details On Plan To Repay Taxpayers With A Profit

NU Online News Service, Sept. 30, 11:01 a.m. EDT

American International Group Inc. (AIG) has released details of its plan to pay back taxpayers for bailing out the mammoth company, gradually allowing the federal government to reduce its various forms of assistance to AIG.

The plan will allow AIG to "concentrate our full attention on managing our businesses for the benefit of all of our stakeholders," said Robert H. Benmosche, president and chief executive officer, in a statement.

But experts have already said the sale of stock has everything to do with timing. If shares are sold quickly, it could drive down the price and reduce the return. Should the Treasury gets rid of its stock in the company rapidly, AIG could face a credit downgrade, the experts said.

Mr. Benmosche said that over the last year AIG has sold non-core units, improved its financial strength, improved liquidity, increased risk management and stabilized core insurance businesses.

Featured Video

Most Recent Videos

Video Library ››

Top Story

20 of the wealthiest places in America

If you want to build your roster of high-net-worth clients, these are the cities you should be targeting.

Top Story

What grade does your state get for its insurance regulations?

Eight states received an “A” grade, and one state received an “F.” Insurance is regulated almost entirely by the state level, and here's a report card on how the states are doing.

More Resources

Comments

eNewsletter Sign Up

Carrier Innovations eNewsletter

Critical news on the latest tech solutions, information security, analytics and data tools and regulatory changes to help decision-makers at insurance carriers keep their business thriving – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.