Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Doubts surface over AIG’s $725mn Ohio settlement

26 July 2010

American International Group (AIG)'s $725mn Ohio pension funds settlement appeared to bring a long-running securities litigation case to a close.

Closer scrutiny of the agreement, however, has raised doubts over the fallen insurance giant's ability to fund its obligations.

According to the insurer's 16 July Securities and Exchange Commission (SEC) filing, the settlement requires court approval and a minimum level of shareholder participation to be consummated.

Under the terms of the deal, AIG must pay $175mn into escrow within 10...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


Share: This article was published as part of issue July 2010/4

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2012. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π