Home | Business News | Browse by Publication | B | Business Insurance

AIG putting two life units toward federal debt; Federal Reserve accord reflects tough market conditions, experts say.

Publication: Business Insurance
Publication Date: 29-JUN-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: AIG putting two life units toward federal debt; Federal Reserve accord reflects tough market conditions, experts say.(American International Group Inc.)

Article Excerpt
Byline: JUDY GREENWALD

NEW YORKAmerican International Group Inc.'s move to give the Federal Reserve Bank of New York preferred interests in two life insurance units in exchange for cutting AIG's debt by $25 billion is a logical strategy in light of market conditions, observers say.

Analysts say the step reflects the current difficulty that AIG faces in getting appropriate compensation for the two unitsAmerican International Assurance Co. Ltd and American Life Insurance Co.either through an initial public offering of stock or a private transaction.

In March, AIG said it planned to establish special-purpose vehicles for subsidiaries American International...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Insurance
D&O buyers tap abundant capacity to trim rates., July 06, 2009
Securities class actions take fresh look at "stale claims'; Litigation..., July 06, 2009
Up Close Comings & Goings.(Brief article), July 06, 2009
Bermuda making its case to policymakers globally.(Law overview), July 06, 2009
Bermuda Captive Conference draws about 430 attendees.(Brief article)(C..., July 06, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.