The four executives arranged a complex scheme to cook the books at AIG. The scheme was designed to mislead analysts and the investing public.
Quotes about aig (16 Quotes)
AIG has today acknowledged that the company over a period of years intentionally misled investors, regulators and policyholders about the company's financial condition and operations.
We believe the combination of American General with AIG is a great platform, ... We have a very good, but small, domestic life insurance business, and this will enhance it. Home Life is not the business we would go out building today, but it has been a cash cow for American General and it enhances the kind of business we want considerably.
We have a legal agreement with American General, ... If AIG wants to start putting announcements out that they are coming in with alternative offers they need to do that in the normal course of business and file with the SEC.
AIG is a great company, an insurance industry leader. But because they are part of the insurance market, they are not immune from market conditions.
There was a secret oral side agreement that the deal was risk free to AIG. Graham further stated in another context, quote Our group will book the transaction as a deposit. How AIG books its transaction is between them, their accountants and God.
We haven't seen much impact on our foreign general or foreign life businesses, ... Some of our producers have been cautious placing business with some of our AIG subsidiaries.
AIG trades at a market multiple, and it is indeed the best insurance company in the world, in my opinion. But financial stocks rarely, if ever, trade at market multiples,
AIG was and is a solid company that didn't need to cheat. It finds itself in this position solely because some senior managers thought it was acceptable to deceive the investing public and regulators.
It's a big amount of money even for a huge company like AIG to have to pay out.
The middle class is teetering on the brink of collapse just as surely as AIG was in the fall of 2009 - only this time, it's not just one giant insurance company (and its banking counterparties) facing disaster, it's tens of millions of hardworking Americans who played by the rules.
AIG today is a better company for all that we have been through.
AIG is still going to be a strong company. You can't find any better quality than AIG.
It's clear that what is going on is AIG is trying to shut down the Starr agencies as competitors, and that AIG is willing to take positions in court that are inconsistent with written contracts, and internally inconsistent.
Olin's many accomplishments include negotiating on behalf of the US Government a number of financial market agreements with other countries. China is a very important market for AIG.
AIG properly handled the claim in this tragic case, according to the provisions of the insurance contract. We can't comment beyond that on a matter that is currently before the court.