American International Group Inc.’s punishment of its plane-leasing chief executive officer for a relationship with an employee is the latest setback for the insurer as it seeks to take the unit public.
Steve Miller , who calls himself “The Turnaround Kid” after a career spent helping hobbled companies survive, has another rescue mission as chairman of bailed-out insurer American International Group Inc.
American International Group Inc., the bailed-out insurer, posted its biggest loss since 2009 on declines in the value of mortgage investments, planes at its aircraft-leasing unit and a stake in a former Asian subsidiary.
Robert Benmosche , chief executive officer of American International Group Inc. , said he was undergoing treatment for cancer and remained committed to repaying the insurer’s $182.3 billion taxpayer bailout.
American International Group Inc. struck a deal to repay the Federal Reserve, the regulator that first bailed out the insurer in 2008, and then focus on retiring obligations to the U.S. Treasury Department.
American International Group Inc. raised a record HK$138.3 billion ($17.8 billion) in the Hong Kong initial public offering of its main Asian unit, putting the bailed-out insurer on course to repay its U.S. assistance.