Connect to share and comment

AIG holding BofA $8.5 billion settlement 'hostage,' investors say

By Karen Freifeld NEW YORK (Reuters) - American International Group <AIG.N> is holding "hostage" an $8.5 billion deal to compensate investors who bought Bank of America Corp <BAC.N> mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday. The supporters urged the judge overseeing the deal to reject AIG's efforts to delay its approval, according to documents submitted to the court late on Friday.

Battered by Sandy, AIG posts $4 bn Q4 loss

US insurance giant American International Group on Thursday said it swung into loss in the 2012 fourth quarter, taking a pummeling from superstorm Sandy and a unit sale. AIG reported a $4 billion net loss in the October-December quarter, compared with $21.5 billion in net income in the year-ago period. Per share, the fourth-quarter loss was $2.68; a year ago it had $11.31 earnings per share. The massive storm Sandy that ravaged the heavily populated Northeast in late October resulted in a pre-tax "catastrophe loss" of $2 billion.

AIG says obliged to consider joining lawsuit against government

BOSTON, Jan 8 (Reuters) - AIG has an obligation to consider a demand by its former chief executive that the company join a lawsuit challenging some of the terms of the insurer's 2008 government rescue, AIG said on Tuesday. In a statement, American International Group said its board expected to make a decision "in the next several weeks."

AIG says obliged to consider joining lawsuit against government

BOSTON, Jan 8 (Reuters) - AIG has an obligation to consider a demand by its former chief executive that the company join a lawsuit challenging some of the terms of the insurer's 2008 government rescue, AIG said on Tuesday. In a statement, American International Group said its board expected to make a decision "in the next several weeks."
Syndicate content