AIG

Geithner, NY Fed defend actions on AIG payments

Timothy Geithner denied any role in disclosures about American International Group`s payments to banks and defended his decisions as New York Federal Reserve chief to pay full price to retire AIG credit default swaps.

Bernanke asks GAO to review Fed role in AIG rescue

Federal Reserve Chairman Ben Bernanke took the unusual step on Tuesday of asking Congress` investigative arm to conduct a "full review" of the Fed`s role in bailing out insurance giant American International Group (AIG).

AIG asks former Lehman lawyer to be its next general counsel

American International Group (AIG) has asked Thomas Russo, the former in-house lawyer of bankrupt financial services firm Lehman Brothers Holdings, to become the insurance giant’s next general counsel, a media report said.

AIG chief tackles government repayment head-on

Bailed-out US insurer American International Group will take at least two years to repay its debt, but is benefiting from an aggressive management style, said CEO Robert Benmosche.

AIG to file prospectus for AIA IPO: Report

Bailed-out US insurer American International Group (AIG.N) plans to file a prospectus for a multibillion-dollar IPO of its Asian life insurance unit before Christmas, the Financial Times reported on Thursday.

AIG is too large and needs to shrink, says its chief

American International Group`s
chief executive Robert Benmosche has said the insurance
company is "too big" and "complex" to manage and needs to
shrink.

Goldman Sachs played bigger role in AIG trades: Report

Goldman Sachs Group Inc played a bigger role in fuelling the mortgage bets that crippled American Insurance Group Inc than has been publicly disclosed, the Wall Street Journal reported on Saturday.

Goldman’s mortgage bets crippled AIG: Report

Goldman Sachs Group Inc played a bigger role in fuelling the mortgage bets that crippled American Insurance Group Inc than has been publicly disclosed, the Wall Street Journal reported on Saturday.

Five AIG execs say may quit over pay: Report

Five senior executives at American International Group (AIG.N) told the insurer last week they may quit if their compensation was cut significantly by the US pay czar, the Wall Street Journal reported on Sunday.

AIG approves USD 7 mn pay package for CEO Benmosche

American International Group (AIG) has said it will pay an annual pay package of USD 7 million (around Rs 32 crore) in cash and stock combined to Chief Executive Officer Robert Benmosche.

AIG board OKs CEO pay, as Benmosche agrees to stay

AIG, the insurer that received billions of dollars in a US bailout, has been authorized by its board to pay Chief Executive Robert Benmosche`s $7 million compensation, after it laid to rest concerns that he may quit the post.

AIG posts second consecutive quarterly profit

American International Group Inc, the insurer bailed out by the US government, posted its second-straight quarterly profit on Friday, helped by recovery in the value of its investments.

AIG to disburse $12 mn in delayed exec payments

AIG, the insurer that received a huge government bail out, said on Friday it is paying USD 12.1 million in retention awards to some top executives after US pay czar Kenneth Feinberg gave it the green light.

US Congress to probe compensation at AIG, others

Congress will soon probe executive compensation at companies such as AIG.N and Bank of America (BAC.N) Corp receiving significant taxpayer funds, the chairman of the House Oversight and Government Reform panel has said.

Treasury said to be unprepared on AIG bonus plans

The pitched drama over bonuses for bailed-out executives will be revived on Capitol Hill Wednesday as a government watchdog explains how some executives nearly brought down the financial system — then pocketed millions.

AIG to sell Taiwan life insurance unit for $2.15 bn

American International Group will be selling its life insurance unit in Taiwan to a consortium of companies for USD 2.15 billion.

AIG sells Taiwan subsidiary to Primus for $2.15 bn

Insurer American International Group Inc said late on Monday that it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong`s Primus Financial for about USD 2.15 billion.

AIG sells asset management unit for $500 million

US insurance giant AIG announced the sale of part of its investment advisory and asset management business to a subsidiary of Hong Kong-based Pacific Century Group for USD 500 million.

AIG, Fannie Mae, Freddie Mac soar over 250% in just a month

The three entities-American International Group, Fannie Mae and Freddie Mac are emerging as investor-favourites with their stock prices skyrocketing over 250 percent in August.

AIG awards new CEO $7 million annual salary

American International Group Inc, the insurer that received billions of dollars in a US bailout, said on Monday that it will pay newly-appointed Chief Executive Robert Benmosche an annual salary of USD 7 million.