American International Group (AIG) may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group in Asia's second-largest block sale ever, exiting a business the US insurer started nearly 100 years ago.
Banks have taken over control of two Dubai properties belonging to the real estate arm of American International Group (AIG) after it refused to pay up to cover lenders' risk, a source familiar with the proceedings said.
AIA, the Asian life insurance arm of American International Group, raised $17.9 billion by pricing its Hong Kong IPO at the top of an indicated range, sources said, due to heavy demand for one of Asia's best known industry brands.
American International Group (AIG) has reported a quarterly loss of $8.9 billion, hurt by loss reserves and efforts to repay the US government, as it struggles to find its feet more than a year after its $182.3 billion rescue.
The US government threw a new $30 billion lifeline to American International Group as the embattled insurer prepared to report the biggest quarterly loss in corporate history.
AIG's board approved a new rescue package that also includes mo
American International Group has put a prized building in Tokyo up for sale and is in advanced talks to sell two office buildings in Dubai and a hotel in Puerto Rico, said a top executive.
The sales are part of AIG's plans to dispose of as
The US government dramatically boosted its bailout of insurer American International Group Inc (AIG) and eased the terms of its loans to the company on Monday after an initial rescue plan failed to stabilise the company.
Under the new plan