AIG Subpoenaed By SEC, Spitzer

American International Group Inc., which has already clashed with the U.S. Securities and Exchange Commission over "nontraditional" insurance products, revealed last week that it has been subpoenaed again over the same issue.

In addition to being subpoenaed by the SEC, AIG said it also was served by the office of New York Attorney General Eliot Spitzer. In a two-paragraph announcement, the New York-based company said the subpoenas related "to investigations of nontraditional insurance products and certain assumed reinsurance transactions and AIG's accounting for such transactions. AIG will cooperate in responding to the subpoenas."

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:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 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.