AIG Plans to Buy Back Shares as Soon as 2012, Benmosche Says
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American International Group Inc., the bailed-out U.S. insurer that announced a share sale today, told investors it plans to buy back stock as soon as next year.
“We anticipate later in 2012, possibly the earliest, and 2013 we’ll start to do some capital management, which would be clearly to deal with the dilution,” Chief Executive Officer Robert Benmosche said today at the company’s annual meeting in New York. “We’ll begin to buy back some of those shares.”