AIG System Updates
One to included nearly $70 million you to definitely Treasury committed by way of TARP and you will $112 million the full time of the Government Reserve Lender of brand new York (FRBNY).
During the , Treasury offered its left 234,169,156 offers off AIG popular stock in an underwritten public offering to own aggregate continues around $7.six mil.
You.S. Company of the Treasury
Giving impact to that sale, the general confident go back toward Government Set aside and you will Treasury’s combined $182 million commitment to balance out AIG during the overall economy are now $twenty-two.eight mil, which have Treasury realizing a confident go back away from $5.0 billion while the Federal Set-aside recognizing a positive come back away from $17.7 million.
As part of its full $5.0 billion positive come back to time, Treasury realized a beneficial $cuatro.1 million self-confident come back to your their prominent inventory holdings and you will a great $0.nine million positive come back on its preferred stock holdings. Included in the Government Reserve’s $17.eight mil self-confident go back to big date try good $six.8 billion confident get back on the Government Set aside Financial of the latest York’s (FRBNY) money to help you AIG; good $step one.cuatro mil self-confident go back towards prominent passion about AIA Aurora and you may ALICO special purpose vehicles one to held AIG’s biggest international lives insurance coverage subsidiaries; and you may a combined $nine.5 mil self-confident return to your Maiden Lane II & III special purpose car.
The fresh mutual profit regarding $9.5 billion about Maiden Lane payday loan? II and III special-purpose vehicle, hence bought financial-relevant assets from AIG and its particular counterparties, portrayed the largest part of the overall $22.eight mil self-confident get back.
Just like the economic crisis, AIG possess performed a remarkable reorganizing efforts, which place it within the a more powerful standing to settle taxpayers. How big is the company might have been clipped nearly by 50 percent whilst ended up selling non-key assets and you can focused on the center insurance rates operations. AIG’s Financial products unit (AIGFP) try leftover wound off and it has slashed their history derivatives coverage by over 93 per cent thus far.
Within the last 19 months, Treasury presented half dozen social products from AIG preferred stock, attempting to sell a maximum of step one,655,037,962 shares (to start with ninety five % away from AIG’s outstanding preferred inventory) from the the typical price of $ each show. Treasury’s $20.7 billion AIG prominent inventory giving inside by yourself portrayed the most significant unmarried U.Smon inventory giving at this moment.
Pursuing the are fundamental situations since the reorganizing during the early 2011. Check a suggestions visual outlining every major AIG deals as a consequence of .
AIG paid down Treasury $2.2 mil in arises from the fresh new business of its subsidiaries AIG Celebrity Life insurance Co., Ltd. and you may AIG Edison Coverage Company to help you Prudential Economic, Inc.
AIG paid down Treasury $6.9 mil to minimize an equal display from Treasury’s preferred security interest in AIG. New continues originated from AIG’s profit of its guarantee stake during the MetLife and you can off financing before stored for the anticipation from costs related into marketing of their Western Life insurance coverage Co. (ALICO) to help you MetLife.
Treasury marketed 2 hundred mil shares regarding AIG common inventory for proceeds out-of $5.8 mil, and you will terminated $dos million out-of in past times committed — however, undrawn funds.
AIG paid Treasury $dos.fifteen billion funded from arises from brand new profit regarding AIG’s Nan Shan life insurance subsidiary. This new continues were used to invest back the You.S. taxpayers’ capital from inside the AIG from the redemption from the same portion regarding Treasury’s common guarantee hobbies into the AIA Aurora LLC, a subsidiary regarding AIG.
Treasury received an installment out of AIG of $972 mil. The fresh percentage was financed generally from the planned launch of escrowed proceeds from AIG’s deals from ALICO, part in order to MetLife, Inc. The brand new continues were used to expend back the newest You.S. taxpayers’ investment in AIG from the redemption off an equal portion from Treasury’s preferred security passions inside the AIA Aurora LLC, a part regarding AIG.