American International Group's AIG Financial Products Corp. unit, with offices in London, England and Wilton, Conn., said Friday that as part of winding down its operations it has sold off some business to an unnamed purchaser for $60.5 million.
AIGFP's involvement in credit default swaps on collateralized debt obligations caused its parent conglomerate to sustain billions in losses and Thursday the UK Serious Fraud Office said it was investigating the unit. AIG has disclosed that AIGFP's past reporting concerning its portfolio is being examined by U.S. authorities.
AIGFP said the sale it completed involved interests in two transactions and related commodity hedges from its energy and infrastructure book of business.
Recommended For You
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
Already have an account? Sign In Now
© 2025 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.
