In financial crisis, this new government’s complete service getting AIG totaled just as much as $182 million
AIG System Updates
One to provided nearly $70 million you to Treasury the amount of time through TARP and you can $112 billion the full time from the Government Set-aside Lender of the latest York (FRBNY).
For the , Treasury marketed their leftover 234,169,156 shares away from AIG well-known stock for the a keen underwritten personal giving having aggregate continues of approximately $7.6 million.
U.S. Agency of the Treasury
Giving impact compared to that business, the general self-confident get back to your Government Set-aside and you may Treasury’s shared $182 billion commitment to balance out AIG within the overall economy is actually today $twenty two.seven mil, that have Treasury realizing a positive get back of $5.0 mil plus the Federal Reserve recognizing a positive return away from $17.eight mil.
As part of their full $5.0 billion confident come back to day, Treasury knew a good $cuatro.step 1 million positive go back on their prominent stock holdings and you will a $0.9 million self-confident return towards the the common stock holdings. Within the Government Reserve’s $17.7 million positive return to time was an effective $six.8 million self-confident get back for the Federal Reserve Lender of the latest York’s (FRBNY) loans so you’re able to AIG; an effective $step 1.cuatro billion self-confident go back into preferred passion regarding AIA Aurora and you may ALICO special purpose automobile you to stored AIG’s largest overseas life insurance rates subsidiaries; and you can a combined $nine.5 mil confident go back with the Maiden Way II & III special purpose car.
Brand new mutual money out of $9.5 billion regarding the Maiden Way II and III special purpose auto, and therefore bought mortgage-related assets out-of AIG and its particular counterparties, represented the greatest portion of the complete $twenty two.eight mil confident get back.
Due to the fact economic crisis, AIG features performed a dramatic restructuring energy, and therefore place it inside the a stronger condition to settle taxpayers. The size of the organization has been cut almost in two whilst marketed non-core property and you will worried about their core insurance functions. AIG’s Financial products equipment (AIGFP) is staying injury off possesses slash the legacy derivatives coverage from the more 93 per cent up to now.
Over the last 19 months, Treasury presented half a dozen social offerings from AIG common stock, selling all in all, 1,655,037,962 offers (originally ninety five percent off AIG’s an excellent preferred inventory) during the Pennsylvania title loan documents the average cost of $ for each show. Treasury’s $20.seven mil AIG well-known stock giving when you look at the by yourself represented the greatest unmarried You.Smon inventory offering of them all.
After the are foundational to situations since restructuring during the early 2011. Check a records visual discussing all the biggest AIG transactions by way of .
AIG paid down Treasury $dos.2 million during the arises from the selling of the subsidiaries AIG Star Life insurance policies Co., Ltd. and you can AIG Edison Life insurance coverage Company to Prudential Monetary, Inc.
AIG repaid Treasury $six.nine mil to reduce the same express off Treasury’s preferred guarantee interest in AIG. The latest continues originated in AIG’s product sales of its equity risk from inside the MetLife and you may regarding money in the past kept in anticipation from expenses associated into the selling of their American Insurance Co. (ALICO) to help you MetLife.
Treasury sold two hundred billion shares out-of AIG common stock to own continues out of $5.8 million, and you may cancelled $2 billion of prior to now enough time — but undrawn finance.
AIG paid Treasury $2.15 million financed from proceeds from the new product sales away from AIG’s Nan Shan life insurance policies part. The new proceeds were used to spend straight back the brand new You.S. taxpayers’ funding into the AIG from the redemption out of an equal part away from Treasury’s popular equity appeal when you look at the AIA Aurora LLC, a part of AIG.
Treasury received a cost regarding AIG away from $972 mil. The fresh new commission is actually financed generally from the booked release of escrowed proceeds from AIG’s deals out-of ALICO, part to help you MetLife, Inc. The brand new continues were used to expend right back the latest You.S. taxpayers’ financing into the AIG from the redemption off an equal piece away from Treasury’s preferred guarantee hobbies in AIA Aurora LLC, a subsidiary regarding AIG.