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AIG Opts Against Contesting Regulator Decision on Systemic Risk

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July 2 (Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout last year, won’t challenge a decision by regulators that it poses a potential risk to the economy.

AIG opted against filing an appeal with the U.S. Treasury Department over its proposed status as a systemically important financial institution, Jon Diat, a spokesman for the New York-based insurer, said in an e-mail today.

“AIG welcomes supervision by the Federal Reserve, and is already working closely with the Federal Reserve Bank of New York as our regulator,” Diat said.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net