AIG
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Sources said AIG is offering some staff guaranteed bonuses and stay packages. -
Banking sources are divided on whether AIG is likely to be able to find a buyer for its life arm.
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AM Best said it will continue to monitor the carrier as it spins off its life and retirement operations.
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The ratings agency says it will conduct a review of AIG’s group credit profile without the life and retirement business.
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The carrier aims to create a separate company from its life and retirement business.
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The jump follows news of a life and retirement spin out and the departure of Brian Duperreault as CEO.
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Duperreault will take the post of executive chairman, and Steenland will become lead independent director.
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The dispute was over contentious 1990s tax structures.
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The money will be split between 4,400 people, including survivors and the families of those who lost their lives.
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The executive previously spent 22 years at AIG before moving to XL Catlin in 2013.
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The case for an AIG break-up is clear, but the market remains skeptical. We outline the primary pushback and arguments against it.
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