AIG Says Transatlantic Raises Its Demand to $500 Million in Legal Dispute
American International Group Inc. (AIG) said former subsidiary Transatlantic Holdings Inc. (TRH) raised its demand for compensation in an arbitration case over securities- lending losses by 43 percent.
“Transatlantic has increased its claimed damages to an amount of approximately $500 million” as of Oct. 31, compared with $350 million previously, New York-based AIG said today in a regulatory filing. “AIG is unable to reasonably estimate the possible loss, if any, arising from this arbitration.”
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