AIG Announces Completion of the U.S. Treasury’s $7.6 Billion Offering of AIG
Full Resolution of America’s Financial Support of AIG
NEW YORK -- December 14, 2012
American International Group, Inc. (NYSE: AIG) announced today the completion
of an offering of approximately 234.2 million shares of AIG common stock by
the U.S. Department of the Treasury (Treasury). Treasury received proceeds of
approximately $7.6 billion from the sale. The sale of these shares – the last
of Treasury’s remaining shares of AIG – marks the full resolution of America’s
financial support of AIG.
“Today officially begins a new chapter at AIG,” said AIG President and Chief
Executive Officer Robert H. Benmosche. “We are proud to make America whole on
its investment in AIG plus a substantial profit and grateful for the
opportunity. Thank you America. Let’s bring on tomorrow.”
Since September 2008, America committed a total of $182.3 billion in
connection with stabilizing AIG during the financial crisis. Since then,
through asset sales and other actions by AIG, the Federal Reserve, and
Treasury, America recovered its $182.3 billion plus a combined positive return
of $22.7 billion. Beginning in May 2011, Treasury successfully sold
approximately 1.7 billion shares of AIG common stock in six public offerings
for total proceeds of approximately $51 billion, including approximately $13
billion purchased by AIG. Treasury continues to hold warrants to purchase
approximately 2.7 million shares of AIG common stock – the sale of which is
expected to provide an additional positive return to taxpayers.
American International Group, Inc. (AIG) is a leading international insurance
organization serving customers in more than 130 countries and jurisdictions.
AIG companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty networks of any
insurer. In addition, AIG companies are leading providers of life insurance
and retirement services in the United States. AIG common stock is listed on
the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube:
www.youtube.com/aig |Twitter: @AIG_LatestNews| LinkedIn:
American International Group, Inc.
Jon Diat, 917-239-9241
Jim Ankner, 917-882-7677
Liz Werner, 212-770-7074
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