AIG IS ‘PAID UP’

In a letter to shareholders dated Dec. 5, 2012, Robert H. Benmosche, President and CEO of American International Group (AIG) announced that the last number of shares owned by the United States Department of the Treasury had been sold, paying off the bailout by the Federal Government in 2008, at a profit in the amount of $22.7 billion.

“We are very pleased to repay 100% of all that America invested in AIG”, stated Mr Benmosche in the letter. 

AIG is the owner of many insurance companies, one of the largest being American General Life.