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AIG seeks changes in its $150B fed loan
Beleaguered insurer American International Group Inc. is looking to alter its $150 billion government loan while it continues…
MetLife, Axa bid for AIG’s life unit
Insurers have begun bidding for American Life Insurance Co., the life insurance unit of American International Group Inc.
Machon replaces Neuger in AIG post
Monika Machon was named senior vice president and CIO of American International Group, in charge of insurance company portfolio management, according to a news release.
AIG on hook for US Airways crash plane
Insurer led airline's hull and liability policy, say sources; Airbus A320 hull worth about $40 million
AIG sells unit to Munich Re for $742 million
HSB Group of Hartford, Conn., provides machinery/plant and equipment breakdown insurance, inspection and engineering consulting services.
AIG sells mortgage securities to Fed-backed vehicle
American International Group Inc. today announced the sale of its residential mortgage-backed securities, with a face value of $39.3 billion. to a government-owned limited liability company.
AIG unit AIU makes executive changes
Ralph Mucerino, senior vice president of AIG and president of AIG Global Marine & Energy, will additionally assume the role of chief operating officer of New York-based AIU.
AIG asset offload may take time, CEO says
Ed Liddy, chief executive of American International Group Inc., said the New York insurer’s asset sale might take longer than expected due to difficult markets, according to published reports.
AIG denies $10 billion debt report
American International Group Inc. today vigorously denied a Wall Street Journal report that it owes a handful of Wall Street firms $10 billion for speculative trades.
AIG executive Kelley named Ironshore CEO
Longtime American International Group Inc. executive Kevin Kelley has been named chief executive officer of Ironshore Inc.
AIG’s Liddy to dole out millions in retention pay
American International Group Inc. will award 38 of its executives with as much as $4 million each as part of a retention program, according to a letter from chief executive Edward Liddy.
Greenberg demands answers of AIG’s Liddy
Maurice “Hank” Greenberg, former chief executive of AIG, is asking questions about a new financial entity the insurer established with regulators to purchase $70 billion of exposure to collateralized debt obligations.
U.S. buys $40 billion of AIG stock
The Department of the Treasury yesterday agreed to purchase $40 billion of AIG’s preferred and common stock as part of the Troubled Assets Relief Program.
More woe for AIG: Exec probed for fraud
Prosecutors are investigating Joseph Cassano, former head of AIG’s financial products unit, to discover whether he had lied to investors and auditors on subprime-related losses, insiders told Bloomberg.
Liddy’s salary at AIG next year? A buck
American International Group chief executive Edward Liddy, who is charged with the Herculean task of saving the giant insurance company, will receive $1 in compensation this year and next.
Chinese consortium in talks with AIG
China Investment Corp. Ltd., the Beijing sovereign wealth fund, is leading a consortium that aims to buy nearly half of an AIG subsidiary, according to Japan’s Nikkei Business Daily.
A suspicious Cuomo eyes AIG bonuses
The insurer should be transparent with taxpayers about its plans for executive compensation this year, Mr. Cuomo said in a letter to Edward Liddy, chief executive of American International Group.
Transit authorities seek aid in avoiding AIG fees
Transit authorities, which are now facing about $4 billion in fees for AIG-backed tax shelters, are reaching out to the government for help, according to The New York Times.
AIG to borrow $20.9 billion more from Fed
Money from the commercial-paper offering will meet the company’s working-capital needs and go toward payments on the $85 billion lending facility from the Fed.
AIG seeks public relations facelift
New York-based AIG has retained Burson-Marsteller Ltd., a pricey public relations firm.
