What is the compensation controversy with AIG?

The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million ( $301 million in 2023) in bonus payments to employees of its financial services division.

Why was AIG in financial trouble?

Credit default swaps were supposed to protect investors against a default in mortgage-backed securities, and AIG minted profits selling billions of dollars of these toxic subprime-fueled credit default swaps to banks, both in Europe and the United States.

Who bought AIG Mutual Fund?

AIG Mutual Fund will now be owned by PineBridge Investments Japan Co. Ltd. and AIG Capital Corporation, the current sponsor of AIG Mutual Fund will sell all its holdings to PineBridge. PineBridge is a corporation incorporated in Japan and has Rs.

What is the new name for AIG investment?

The firm now independent of AIG was renamed to PineBridge Investments.

What happened to AIG Mutual Funds?

AIG Life & Retirement is a division of American International Group, Inc. (NYSE: AIG). Under the terms of the purchase agreement, and following shareholder approval, 12 AIG Funds were reorganized and merged into either existing Touchstone funds, or into newly created Touchstone funds effective July 16, 2021.

Does AIG insurance still exist?

Connect with AIG Around the Globe We are one of the world's most far-reaching property-casualty networks, and we're proud to be your partner in helping to protect the future of your business, future generations of your family, and the future of the communities we serve in every corner of the world.

Is AIG the same as American General Life insurance?

American General Life Insurance Company is a wholly-owned subsidiary of AGC Life Insurance Company (AGC Life or the Parent), an indirect, wholly-owned subsidiary of American International Group, Inc. (AIG Parent). The Company is a stock life insurance company domiciled and licensed under the laws of the State of Texas.

What is the new name of AIG Mutual Fund?

PineBridge Investments Asset Management Company (India) Private Limited (earlier known as AIG Global Asset Management Company (India) Private Limited) ( AMC ) is a private limited company incorporated under the Companies Act, 1956 on October 30, 2006 having its Registered Office at 604, 6th Floor, Peninsula Tower, ...

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Q: What happened to AIG Mutual Funds?

AIG Life &amp; Retirement is a division of American International Group, Inc. (NYSE: AIG). Under the terms of the purchase agreement, and following shareholder approval, 12 AIG Funds were reorganized and merged into either existing Touchstone funds, or into newly created Touchstone funds effective July 16, 2021.

Q: Does AIG insurance still exist?

Connect with AIG Around the Globe We are one of the world&#039;s most far-reaching property-casualty networks, and we&#039;re proud to be your partner in helping to protect the future of your business, future generations of your family, and the future of the communities we serve in every corner of the world.

E, WI 53201-0401 Please be advised this form cannot be processed unless ALL applicable sections are completed Agent Codes Tax Identification Number (TIN) Corporation Name Social Security Number Agent Name #1 #2 #3 Old Address New Address Business Address This is a: Residence Address Telephone Number Both Fax Number Commission mailings ONLY Change the address for: Policy.

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