RMI 3502 Chapter 2: Topic 2 Articles
7 Aug 2016
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Aig will get rid of two business and promises to return billion in capital to shareholders. Carl icahn urged the insurer to create a narrowly focused property and casualty company that can no longer be considered too big to fail. Aig will sell aig advisor group and psp investments for an undisclosed amount of money and carry out an initial public offering of up to 19. 9% of united guaranty corp. Aig will eventually get rid of the entire business of united guaranty corp. Aig will sell aig advisor to lightyear capital llc. Aig greenlit billion worth of buybacks and dividends over the next 2 years. Aig will break down their business into nine separate units and create a legacy portfolio for its non-core assets. Aig president and ceo peter hancock said that this will help aig become leaner, more profitable and continue to return capital to shareholders and improve their returns.
