Sunday, November 14, 2010

AIG At Its Core

Insurance titan AIG is going through a lot of restructuring.As they keep paying the government back for rescuing the company from the financial crisis,they have to keep accelerating the amortization,says CEO Robert Benmosche.
They'll be the largest property and casualty insurer,and one of the largest life and annuity firms.That's the core of the company.They're selling off a lot of smaller things.AIG can produce 6-8 billion dollars of profit once they complete the restructuring plan.
Now AIG is working on a liquidity plan.They want to have enough capital to withstand any future shock.They're gonna start showing that to the ratings agencies.
Right now there's a lot of capacity at AIG.They are well past their reputational issues.
Over the next couple of years,AIG won't be suffering from unrealistic prices.They think that they'll get all their issues behind them in Q4.You'll begin to see the company's earnings grow steadily over time,Mr.Benmosche believes.
AIG's global employees are returning the firm to its client-centered heritage.They are taking pride in restoring the company to a leadership position.
American International Group(AIG)

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