American International Group Inc. (AIG) said it repaid nearly $7billion to the Department of the Treasury, using money raised fromthe sale of its equity stake in MetLife Inc. earlier thismonth.

AIG sold American Life Insurance Company (ALICO) toMetLife last year for $16.8 billion, before expenses. AIGsaid it made an aggregate of $9.6 billion before expenses from itssale of equity securities in MetLife.

AIG said $3 billion of theproceeds was placed in escrow. The bailed-out insurer said it added$300,000 from an earlier transaction involving MetLife to come upwith $6.9 billion to give Treasury, which has loaned AIG about $68billion through the Troubled Asset Relief Program (TARP).

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.