AIG System Updates

You to definitely incorporated nearly $70 mil that Treasury committed through TARP and $112 million the full time of the Federal Set-aside Lender of brand new York (FRBNY).

In , Treasury ended up selling their leftover 234,169,156 offers out-of AIG well-known stock inside a keen underwritten societal giving having aggregate continues of around $7.6 billion.

U.S. Department of one’s Treasury

Giving impression to this marketing, the overall positive return toward Government Set aside and Treasury’s mutual $182 billion commitment to stabilize AIG inside financial crisis try today $22.eight mil, with Treasury recognizing an optimistic return away from $5.0 million and Government Set-aside recognizing a confident go back of $17.eight billion.

Within their overall $5.0 billion positive go back to big date, Treasury realized an excellent $cuatro.step one million confident return on their prominent stock holdings and you will a $0.9 million confident return toward its common stock holdings. As part of the Government Reserve’s $17.seven billion confident come back to time is an excellent $6.8 billion positive come back on the Federal Set-aside Financial of new York’s (FRBNY) financing to help you AIG; a beneficial $step 1.cuatro million confident go back to your well-known hobbies from the AIA Aurora and you may ALICO special purpose auto one to kept AIG’s biggest overseas lives insurance subsidiaries; and you will a blended $nine.5 mil positive get back to the Maiden Way II & III special purpose car.

The fresh shared profit out-of $nine.5 billion about Maiden Way II and III special-purpose automobile, and this ordered financial-related property out of AIG and its particular counterparties, depicted the biggest part of the complete $22.seven million confident return.

Because financial crisis, AIG features undertaken a remarkable reorganizing work, hence put it in the a more powerful condition to repay taxpayers. How big the business could have been slashed nearly by 50 percent as it sold low-key possessions and concerned about its core insurance coverage surgery. AIG’s Financial products product (AIGFP) are leftover wound off and has now reduce its legacy types visibility of the more than 93 per cent up to now.

Over the past 19 days, Treasury used half dozen public products out of AIG prominent stock, offering a maximum of step one,655,037,962 shares (to start their website with ninety five % off AIG’s the well-known stock) within the common price of $ for each show. Treasury’s $20.eight mil AIG preferred stock giving when you look at the alone depicted the largest unmarried U.Smon inventory providing in history.

Following are foundational to situations since the restructuring at the beginning of 2011. Look at a details visual detailing all major AIG transactions thanks to .

AIG repaid Treasury $2.dos mil inside the proceeds from this new profit of their subsidiaries AIG Celebrity Life insurance policies Co., Ltd. and you may AIG Edison Life insurance coverage Organization so you’re able to Prudential Economic, Inc.

AIG reduced Treasury $6.9 million to attenuate the same share away from Treasury’s prominent security interest in AIG. This new continues originated from AIG’s income of its equity stake from inside the MetLife and you may out of financing in past times held in the expectation away from costs associated into the revenue of their Western Life insurance policies Co. (ALICO) to help you MetLife.

Treasury offered 2 hundred million shares off AIG preferred stock to have continues out of $5.8 mil, and you will cancelled $dos mil regarding in earlier times committed — however, undrawn financing.

AIG paid back Treasury $2.15 mil financed through the proceeds from the revenue out-of AIG’s Nan Shan coverage subsidiary. This new continues were used to spend back the brand new U.S. taxpayers’ resource from inside the AIG from the redemption off the same piece from Treasury’s popular equity welfare for the AIA Aurora LLC, a part out-of AIG.

Treasury obtained an installment from AIG away from $972 billion. The new payment is actually funded primarily from scheduled release of escrowed arises from AIG’s marketing away from ALICO, part in order to MetLife, Inc. The brand new continues were used to pay right back the brand new U.S. taxpayers’ investment from inside the AIG from the redemption from an equal part out-of Treasury’s common equity interests within the AIA Aurora LLC, a part out-of AIG.