AIG collapse would have been catastrophic: Geithner

Former US Treasury Secretary Timothy Geithner testified Tuesday that if insurer AIG had been allowed to fail in 2008, the impact would have been an economic catastrophe.

Oct 08, 2014, 06:13 AM IST

Tata AIG General Insurance eyes 15% premium growth in FY15

Private general insurer Tata AIG General Insurance is hopeful of posting around 15 percent growth in premium collections in the next financial year on the back of an expected recovery in economy, a top company official has said.

Mar 09, 2014, 15:55 PM IST

BofA $8.5 bn settlement to move forward; AIG loses bid to delay

A New York state judge declined to delay court approval of Bank of America Corp`s $8.5 billion settlement with investors in mortgage-backed securities, rejecting a move by American International Group Inc .

Feb 20, 2014, 02:27 AM IST

AerCap buys AIG`s aircraft leasing arm

AerCap will pay AIG $3.0 billion in cash and give it 97.6 million in shares, a 46 percent stake in AerCap worth $2.4 billion at the closing price of $24.93 on Friday.

Dec 16, 2013, 23:40 PM IST

US Treasury to receive $5.75 bn from AIG stock sale

In a statement Monday, the Treasury said underwriters have exercised their over-allotment option in full to purchase approximately 24.6 million additional shares of AIG common stock at the public offering price of USD 30.5 per share, Xinhua reported.

Aug 07, 2012, 12:56 PM IST

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.

Jan 27, 2010, 12:01 PM IST

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).

Jan 20, 2010, 13:12 PM IST

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.

Jan 12, 2010, 17:37 PM IST

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.

Dec 21, 2009, 10:10 AM IST

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.

Dec 17, 2009, 09:52 AM IST

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

Dec 15, 2009, 18:21 PM IST

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.

Dec 13, 2009, 20:23 PM IST

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.

Dec 13, 2009, 09:43 AM IST

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.

Dec 07, 2009, 13:28 PM IST

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.

Nov 25, 2009, 19:34 PM IST

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.

Nov 25, 2009, 09:21 AM IST

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.

Nov 07, 2009, 00:04 AM IST

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.

Oct 24, 2009, 14:03 PM IST

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.

Oct 15, 2009, 10:19 AM IST

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.

Oct 14, 2009, 10:44 AM IST