"This sends a clear message to our customers that we will continue to be a trustworthy, reliable and competent partner for them," Chief Executive Eduardo Leemann of AIG Private Bank said in a statement. Leemann and his senior management team will remain with the bank, AIG said.
Faced with a liquidity crunch, AIG said in October it would sell off a number of business units to pay off a $85 billion government loan. The insurer's total government assistance has now risen to about $150 billion. The company has not specifically disclosed the assets it would sell or the expected prices from the sales. However, AIG has said it plans to retain its U.S. property and casualty and foreign general insurance businesses, and plans to retain an ownership interest in its foreign life insurance operations.
I wonder how many business units AIG has to sell to get $150 billion.
1 comment:
They are "obviously" making efforts. Should we also wonder whether they would ask for more bailouts in the next couple of months (as they did try to raise from $85 to $150 billion)? :)
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