AIG Life Insurance Review
American International Group, Inc. (AIG) the multinational insurance company that was famously bailed out by the Federal Reserve in 2008, announced Sunday of further rebranding and use of the AIG name for its core insurance units.
The ill-fated decision made by AIG to expand into the credit default swap market caused the company to collapse. AIG then received a total of $182 billion in bailout funds, making it the largest federal bailout in U.S. history.
However, the company is quickly shedding its stigma from the 2008 financial crisis and has returned to profitability. Fast forward 5 years and the American taxpayers are receiving a profit of $15 billion on the money in lent AIG and the company’s stock price is up more than 50% this year on the NYSE. The U.S. Treasury still holds around $8 billion (around 15% ownership) of AIG stock in the company which it hopes to sell off by the end of next year.
With a surging stock price along with U.S. taxpayers receiving a profit on the bailout funds, AIG seems to be back. By returning to the use of the once tarnished AIG name in addition to a new logo, AIG hopes to return to the behemoth it once was and it looks like they are well on their way.
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