(Bloomberg) -- American International Group Inc., the insurerpressured by activist investor Carl Icahn to boost returns,announced a plan to repurchase another $3 billion of shares.
The move lifts to $4.3 billion the amount that the company isauthorized to buy back, New York-based AIG said Wednesday in astatement. AIG said it has already repurchased about $9.7 billionthis year through Tuesday.
Chief Executive Officer Peter Hancock has been selling assetsincluding stakes in aircraft lessor AerCap Holdings NV and consumerlender Springleaf Holdings Inc. to simplify the company and helpfund buybacks. Last week he raised more than $700 million selling shares inChina’s PICC Property & Casualty Co.
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