FACTBOX-Key stumbles in recent AIG history

miércoles 17 de septiembre de 2008 07:31 CEST

American International Group (AIG.N: Cotización) staved off collapse on Tuesday after the U.S. Federal Reserve Bank of New York agreed to lend up to $85 billion to the cash-strapped insurer over two years in exchange for a 79.9 percent equity stake.

Below are some key dark days in the 89-year-old company's recent history.


February - Former New York Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commissioner send American International Group (AIG.N: Cotización) subpoenas about "non-traditional insurance products and certain assumed reinsurance transactions.";

March - Hank Greenberg, who had led AIG since 1967, is forced out as CEO and replaced by longtime lieutenant Martin Sullivan;

May - Spitzer files a civil suit against AIG, saying the company, Greenberg and former chief financial officer Howard Smith, used "deception and fraud" to inflate the stock's price;


February - AIG settles with SEC and state securities and insurance regulators, agreeing to pay $1.6 billion to resolve claims of improper accounting, and bid rigging;

2007   Continuación...