New $30bn lifeline for AIG; P&C restructure paves way for IPO
The US government has once again come to the rescue of American International Group (AIG) with a fresh $30bn lifeline for the ailing insurance giant as part of a package that includes spinning off part of its property and casualty business in an IPO.
The latest rescue bid, the terms of which were approved over the weekend, comes as the company unveiled the biggest quarterly loss in US corporate history.
The $61.7bn loss dwarfs the beleaguered insurance giant's Q3 deficit...
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