AIG System Reputation
One included nearly $70 million that Treasury the time owing to TARP and you may $112 billion committed of the Federal Set-aside Bank of brand new York (FRBNY).
From inside the , Treasury sold its remaining 234,169,156 offers out of AIG preferred stock during the an underwritten social offering getting aggregate proceeds of about $seven.six million.
U.S. Company of one’s Treasury
Giving perception to that particular product sales, the entire self-confident return toward Federal Set aside and you can Treasury’s mutual $182 million commitment to stabilize AIG in financial crisis was today $twenty two.seven mil, with Treasury recognizing an optimistic come back away from $5.0 billion while the Government Set aside recognizing a confident come back regarding $17.seven mil.
Included in its total $5.0 billion confident return to time, Treasury know a beneficial $4.step one million positive go back to your their popular stock holdings and you will an excellent $0.9 mil self-confident come back with the its popular inventory holdings. As part of the Government Reserve’s $17.7 million self-confident come back to date was a $six.8 mil positive get back for the Federal Reserve Financial of the latest York’s (FRBNY) fund to help you AIG; an effective $step one.4 million positive get back to your well-known interests regarding AIA Aurora and ALICO special purpose car that stored AIG’s largest foreign life insurance coverage subsidiaries; and you will a mixed $9.5 mil positive go back on Maiden Way II & III special purpose vehicle.
The newest combined cash out-of $nine.5 million throughout the Maiden Lane II and you will III special-purpose vehicles, and therefore bought financial-relevant possessions regarding AIG as well as counterparties, depicted the greatest portion of the overall $22.eight mil confident go back.
Since economic crisis, AIG has actually performed a dramatic reorganizing efforts, hence place it into the a stronger condition to settle taxpayers. The dimensions of the company has been reduce title loans in AZ almost by 50 percent because ended up selling non-key property and you may concerned about their core insurance rates businesses. AIG’s Lending products device (AIGFP) try staying wound down and contains cut their heritage types visibility of the more 93 per cent at this point.
In the last 19 days, Treasury held six societal offerings out of AIG well-known inventory, promoting a maximum of step one,655,037,962 offers (to start with 92 per cent out of AIG’s a great well-known inventory) at the the average cost of $ for each and every display. Treasury’s $20.7 million AIG common inventory offering within the by yourself illustrated the most significant single You.Smon inventory giving of them all.
Adopting the are key events because the restructuring during the early 2011. Glance at an information visual discussing every significant AIG deals because of .
AIG paid down Treasury $2.dos billion from inside the proceeds from brand new sale of the subsidiaries AIG Celebrity Insurance Co., Ltd. and you will AIG Edison Term life insurance Team so you can Prudential Monetary, Inc.
AIG paid off Treasury $six.nine billion to reduce the same share out-of Treasury’s well-known equity interest in AIG. The newest continues originated from AIG’s profit of its security risk from inside the MetLife and you can regarding loans in the past kept in expectation away from expenditures associated into profit of its American Coverage Co. (ALICO) in order to MetLife.
Treasury ended up selling 2 hundred million offers out of AIG preferred stock to have continues of $5.8 mil, and you may cancelled $2 billion out-of prior to now committed — however, undrawn loans.
AIG paid off Treasury $2.fifteen mil funded through the arises from the fresh purchases out-of AIG’s Nan Shan term life insurance subsidiary. New continues were used to pay straight back the You.S. taxpayers’ investment inside AIG from redemption out of the same section from Treasury’s prominent security hobbies into the AIA Aurora LLC, a subsidiary of AIG.
Treasury received a repayment off AIG out of $972 mil. The fresh payment are funded mainly from the arranged release of escrowed proceeds from AIG’s deals off ALICO, part so you’re able to MetLife, Inc. New continues were utilized to expend right back the newest You.S. taxpayers’ funding when you look at the AIG from redemption of an equal piece out of Treasury’s prominent equity passions when you look at the AIA Aurora LLC, a subsidiary out of AIG.