(New York Times) — The American International Group said Thursday that it had completed a plan to repay United States taxpayers for bailing out the insurance giant during the height of the financial crisis.Under the plan,the Federal Reserve Bank of New York would be repaid the nearly $20 billion that it is owed and theTreasury Department would convert […]
(Bloomberg) — American International Group Inc., the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval. Prudential asked that the $35.5 billion price for AIA Group Ltd. be cut to about $29 billion to $30 billion, and New York- […]
(NYTimes.com) — Prudential, the British insurer aiming to buy the Asian life insurance business of American International Group, postponed the start of its rights issue Wednesday because Britain’s financial regulator needed more time to test the capital ratios of the combined group. Read More…
(CNBC.com) — The U.S. government’s bailout of the financial system is expected to cost $89 billion, much lower than earlier projections, the Wall Street Journal reported on Sunday, citing Treasury Department officials. The Journal also said that Treasury officials were looking into ways to disentangle the government from its nearly 80 percent stake in American International […]
The firm settled allegations that they discriminated against African-Americans.
Thiam makes his mark with a $35.5 billion deal.