QUOTE AND NEWS
Insurance Journal  Oct 27  Comment 
David Boies spent much of the past month interrogating the architects of the 2008 Wall Street bailout, making the case that the U.S. cheated American International Group Inc. shareholders of at least $25 billion partly for the benefit of an...
TheStreet.com  Oct 20  Comment 
NEW YORK (TheStreet) -- RATINGS CHANGES AIG was upgraded at Deutsche Bank to buy. Remains a story "in progress" as stock trades at 65% of book value, Deutsche Bank said. Valuation is attractive given recent pullback, Deutsche Bank also...
Benzinga  Oct 20  Comment 
Deutsche Bank upgraded American International Group Inc (NYSE: AIG) from Hold to Buy and raised its price target from $59 to $60 in a report issued Monday. Analysts Joshua Shanker and Phil Stefano felt that while "too much of earnings stems...
Insurance Journal  Oct 19  Comment 
Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win concessions on the harsh terms of an $85...
Insurance Journal  Oct 17  Comment 
Former American International Group Inc. Chief Executive Officer Edward Liddy testified he chose not to buck government overseers who selected him to run the bailed- out insurer. Developing trust with regulators was for the “benefit of AIG,”...
Insurance Journal  Oct 16  Comment 
Former American International Group Inc. Chief Executive Officer Edward Liddy will face a key question on the witness stand in a trial over claims shareholders were cheated of at least $25 billion in the insurer’s bailout: was he or the...
Insurance Journal  Oct 15  Comment 
Beazley Plc hired Matt Barone from American International Group Inc., becoming the second insurer in a month to recruit from AIG to build groups that sell coverage protecting corporate clients against crimes. Barone joins the fidelity bond and...
Insurance Journal  Oct 14  Comment 
The trial over the American International Group Inc. bailout shifts this week from the architects of the 2008 rescue, who spent days testifying as to why they imposed the terms they did on the ailing insurer, to the executives who … The...
Insurance Journal  Oct 13  Comment 
Former Federal Reserve Chairman Ben Bernanke said he wasn’t looking to punish American International Group Inc. for mismanagement when the board of governors authorized an emergency loan to the distressed insurer at a steep interest rate and...




 

After its excessive risk-taking necessitated a dramatic bailout from the federal government, AIG is finally poised to be returned to common shareholders. Though still a major presence in property-casualty and life insurance, the new AIG will be a smaller insurance organization, having shed a good deal of its global growth potential. AIG has no economic moat, in our opinion, and the onetime insurance leader will have a difficult time returning to its former dominant position. AIG is still one of the largest insurance and financial services firms in the world, even after disposing of its Asian insurance subsidiaries. It operates through a wide range of subsidiaries that provide general insurance, life insurance, and other financial services. The government has started selling its shares in 2011, and ownership will eventually be returned to common equity shareholders.

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