The recent acquisition of AIG’s Canadian division gives BMO a complete infrastructure to sell any product line
American International Group has found a buyer for another of its business lines, UBS Investment Bank is set to buy the commodity index business from AIG’s Financial Products Corp. division.The equities business of UBS Investment Bank announced Monday that it has entered into a binding agreement to purchase the commodity index business of AIG Financial […]
Company to operate under BMO Life banner
CEO to earn US$1 salary
American International Group, Inc. is terminating 14 voluntary deferred compensation programs involving 5,600 employees and independent agents and representatives, the insurance company said Friday.Approximately US$500 million in deferred pay will be distributed in the first quarter of 2009. This deferred compensation is all pay that an individual earned but volunteered to defer receiving until a […]
Insurance giant posts US$24.5 billion loss
American International Group, Inc. and New York State attorney general Andrew Cuomo have reached an agreement to curb expenditures at the failed insurance giant.Cuomo met today with Edward Liddy, the new chairman and CEO of AIG, to lay out his concerns regarding executive compensation issues and exorbitant expenses at AIG. Yesterday, Cuomo informed AIG that […]
The ratings follow AIG’s announcement of plans to sell off many of its businesses
AIG is paying 11.25% interest on its bridge financing; it will want to pay that down as quickly as possible
U.S. government to take 80% stake in insurance giant