AIG Program Updates

You to included nearly $70 million that Treasury the full time courtesy TARP and you can $112 million committed because of the Government Set aside Financial of brand new York (FRBNY).

From inside the , Treasury sold its kept 234,169,156 offers out of AIG preferred stock within the an underwritten societal providing to have aggregate proceeds of approximately $eight.six million.

You.S. Company of one’s Treasury

Giving impact to this business, the entire confident return into the Government Reserve and you may Treasury’s mutual $182 million commitment to balance AIG inside economic crisis try today $twenty-two.eight mil, which have Treasury realizing an optimistic get back off $5.0 billion in addition to Government Reserve realizing an optimistic come back off $17.seven million.

Within its complete $5.0 billion self-confident go back to date, Treasury know good $4.1 mil positive come back into the prominent stock holdings and you will an excellent $0.nine mil self-confident come back towards their common inventory holdings. Included in the Federal Reserve’s $17.7 mil positive return to go out is actually a good $six.8 mil positive go back with the Government Set-aside Financial of brand new York’s (FRBNY) fund in order to AIG; a beneficial $step 1.4 million positive get back into preferred passions from the AIA Aurora and you can ALICO special purpose car you to definitely stored AIG’s biggest international lifetime insurance policies subsidiaries; and you will a mixed $9.5 mil confident go back into Maiden Lane II & III special-purpose car.

The mutual finances away from $nine.5 mil in the Maiden Way II and you can III special purpose vehicle, and this bought financial-relevant property off AIG and its counterparties, illustrated the biggest portion of the overall $twenty-two.seven mil positive come back.

Because financial crisis, AIG keeps done a remarkable restructuring energy, and this put it inside a stronger reputation to repay taxpayers. How big the firm could have been clipped nearly in half because it offered non-center possessions and you can worried about the center insurance coverage surgery. AIG’s Financial products tool (AIGFP) was remaining injury off and contains reduce their history derivatives publicity because of the over 93 percent so far.

Within the last 19 days, Treasury presented half a dozen public products regarding AIG popular stock, promoting a total of step 1,655,037,962 offers (to start with ninety-five per cent from AIG’s an excellent preferred inventory) during the the average price of $ for every single express. Treasury’s $20.7 billion AIG common stock offering in alone depicted the biggest unmarried You.Smon stock giving at this moment.

Pursuing the are fundamental events once the reorganizing at the beginning of 2011. Take a look at a suggestions artwork describing all of the major AIG transactions using .

AIG paid off Treasury $dos.dos billion from inside direct lenders for installment loans Michigan the proceeds from the new business of their subsidiaries AIG Star Term life insurance Co., Ltd. and AIG Edison Life insurance Team in order to Prudential Financial, Inc.

AIG paid off Treasury $six.9 billion to minimize the same express from Treasury’s common equity interest in AIG. The latest continues originated in AIG’s purchases of the security risk inside the MetLife and you may from financing in the past stored into the anticipation out of costs associated with the marketing of their Western Insurance Co. (ALICO) in order to MetLife.

Treasury offered 2 hundred mil offers out of AIG preferred stock for continues out-of $5.8 billion, and you may terminated $dos billion away from in past times the amount of time — however, undrawn loans.

AIG reduced Treasury $2.fifteen billion funded from proceeds from new marketing away from AIG’s Nan Shan life insurance subsidiary. The fresh continues were used to blow back the new U.S. taxpayers’ financial support within the AIG from the redemption from the same part regarding Treasury’s popular guarantee appeal inside the AIA Aurora LLC, a subsidiary out-of AIG.

Treasury gotten an installment out-of AIG off $972 million. The brand new percentage is funded primarily through the booked launch of escrowed proceeds from AIG’s sale out of ALICO, part in order to MetLife, Inc. This new continues were used to spend back the latest You.S. taxpayers’ financial support inside AIG from the redemption regarding the same portion away from Treasury’s common collateral interests from inside the AIA Aurora LLC, a part regarding AIG.