The documents released by the Federal Reserve on Wednesday provide new details of how close to the precipice some insurance subsidiaries of the American International Group came in 2008, Mary Williams Walsh reports in The New York Times. They also show just how far Fed officials veered from their usual duties to keep those subsidiaries [...]
With an arrangement to repay its $130 billion taxpayer-financed bailout in place, the American International Group will seek another way to demonstrate its independence: it is planning a debt offering. The insurer disclosed in a regulatory filing on Tuesday that it would issue new bonds for the first time since it was rescued at the [...]
The Treasury Department has hired Greenhill & Company, a boutique investment bank, to advise it on the eventual sale of its holdings in the American International Group, according to a contract posted on the department’s Web site. The bank will advise the Treasury’s planned sale of its A.I.G. stake, gained as part of a $130 [...]
6:47 p.m. | Updated The American International Group is shopping around its rail-car unit, a person briefed on the matter said on Sunday. The move would be part of the insurer’s plan to sell noncore businesses to pay down its $130 billion taxpayer-financed bailout. The unit, AIG Rail Services, is based in Chicago and has [...]
The American International Group on Friday reported a $2.4 billion loss for its third quarter, again hamstrung in part by accounting charges related to its restructuring as it seeks to repay its taxpayer-financed bailout. The insurer disclosed a $4.5 billion charge related to its ongoing reorganization, including charges tied to a deferred tax asset and [...]
The American International Group said on Wednesday that its chairman, Robert S. Miller, would step in as interim chief executive if the firm’s current chief, Robert H. Benmosche, is unable or unwilling to stay in that role. The decision, made at a board meeting on Wednesday, follows the insurer’s disclosure on Monday that Mr. Benmosche [...]
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