American International Group Inc., Citigroup Inc. and General Motors Co., once the largest insurer, bank and automaker, hold a new distinction after losses forced them to take bailouts. The firms accumulated some of the biggest deferred tax assets that may lower obligations to the government that rescued them.
American International Group Inc. , the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval.
American International Group Inc. agreed to sell its consumer lender for less than 1 percent of the unit’s $20 billion in assets to avoid the possibility that the business would sap U.S. bailout funds, said three people with knowledge of the transaction.
American International Group Inc. hired former U.S. Army Lt. Col. Robert Bleimeister and Mitchell Schultz , previously of Invesco Ltd., to improve a human resources department the insurer described as “sub-optimal.”
The receiver in charge of liquidating WG Trading Co., the firm allegedly used in a Ponzi scheme by former managers Paul Greenwood and Steven Walsh , sued to recover profit made by investors including American International Group Inc. ’s SunAmerica Life Insurance unit.
American General Finance Inc. debt has lost at least $792 million since Fortress Investment Group LLC agreed to buy the lender last week, punishing bondholders from Loomis Sayles & Co. to Pacific Investment Management Co.