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American International Group

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American International Group

AIG holding company deals with insurance as well as other activities that are related to insurance in America with its operations through several subsidiaries . The primary activities of the company incorporate the general insurance as well as life insurances and the operation services dealing with retirement . The company also undertakes financial services as well as financial management . The operating segments of the company allows for the provision of insurance , the provision of services as well as products to business bodies and

the individuals alike in over 130 countries together with their jurisdictions . The company was involved in a sale of about a half of its stakes in the city airport of London . The company also made a sale of the security portfolios that backs the residential mortgage to Maiden Lane (David John 7

AIG happened to be on of the reputable insurance organizations in America just prior to the sudden collapse of the company around the ninth month of 2008 . The actual cause of the collapse was a heavy weight involving bad debts as a result of the insurance that the company made against securities backed by mortgages . Federal Reserve initially took the initiative of bailing the company with an infusion involving over eighty five billion US dollars . Despite of this initiative , the trend of the losses was on the increase leading to the announcement by the treasury of a fresh rescue package in November of the same year . This package was a...

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