AIG AGM hears how government will be repaid
AIG chief executive Ed Liddy told the firm’s AGM the company was set to repay the US government and had lowered risks in its derivatives business, Dow Jones reports.
AIG now has an "excellent chance" of repaying its debt to the government as it unwinds its businesses in the coming months, Liddy said. He did not confirm a recovery in AIG's stock price to shareholders seeking assurances.
Eleven new directors were elected to a one-year term at the meeting, including six put forward by the US government.
"We have determined the destinies of nine of our major businesses," Liddy said. "AIG is far more stable than it was a few months ago."
Reuters adds that Liddy said he the board would soon name a new chairman and CEO so he can step down.
