aig

AIA shares soared in Hong Kong today on its first day of trading.

The U.S. government's bailout has been less than effective in helping U.S. homeowners avoid foreclosure and could end up costing more than expected, according to a report from the Troubled Asset Relief Program's special inspector general.

AIG (AIG) said that CEO Robert Benmosche has cancer and is undergoing aggressive chemotherapy. "The good news is that I feel fine, and I continue to work according to my normal schedule," Benmosche said in a statement. "I remain absolutely committed to my job, to AIG, and to all of our...

AIG (AIG) raised HK$138.3 billion ($17.8 billion) from the IPO of its main Asian unit, AIA, putting the troubled insurer on track to repay its U.S. government bailout. AIG placed 7.03 billion shares at HK$19.68 a share, Bloomberg News said. The shares sold represent a 58% stake in the unit, AIA....

Institutional demand for American International Group's $15 billion initial public offering for AIA, its Asian life insurance unit, is so strong that AIG may close it to institutional buyers two days earlier than planned.

The federal bailout program will end up costing taxpayers at least 85% less than expected, according to the Treasury Department, which estimates a bill of $30 billion to $50 billion. The Congressional Budget Office initially expected the program to cost $350 billion.

American International Group has received a $1 billion commitment from Kuwait Investment Authority for AIA Group's Hong Kong initial public offering. But the Kuwaiti sovereign wealth fund has forced AIG to lower the value of the Asian life insurance company.

After months of planning, AIG announced Thursday that it had entered into an agreement with the Treasury Department and the Federal Reserve Bank of New York about how it will repay in full its obligations to the U.S. government and regain its independence.

As expected, American International Group (AIG) said Thursday it will sell AIG Star Life Insurance and AIG Edison Life Insurance in Japan to Prudential Financial (PRU) for $4.8 billion. The deal marks yet another step in the bailed-out insurer's efforts to repay the U.S. taxpayer. The total...

American International Group's board of directors is expected to vote Wednesday on a plan to exit the government's bailout program, according to comments made by AIG Chairman Steve Miller during an investment conference.