AIG Program Reputation
You to integrated nearly $70 billion one to Treasury committed through TARP and you will $112 mil the amount of time by Federal Put aside Lender of brand new York (FRBNY).
During the , Treasury sold the leftover 234,169,156 offers out-of AIG popular stock during the an enthusiastic underwritten social offering to possess aggregate proceeds of around $eight.six billion.
You.S. Agency of your Treasury
Providing feeling to this business, the overall confident get back with the Government Set aside and you can Treasury’s joint $182 million commitment to stabilize AIG within the financial crisis is today $twenty two.7 billion, having Treasury realizing a confident go back regarding $5.0 mil in addition to Federal Reserve recognizing an optimistic get back out of $17.eight million.
As part of the complete $5.0 million self-confident go back to day, Treasury know a beneficial $cuatro.step 1 mil positive return towards its popular inventory holdings and an excellent $0.9 mil self-confident go back towards the the preferred stock holdings. Included in the Federal Reserve’s $17.7 million confident return to day is actually an effective $six.8 billion confident come back into the Government Set aside Financial of new York’s (FRBNY) fund so you can AIG; a great $1.4 million confident come back into well-known appeal regarding the AIA Aurora and you can ALICO special purpose vehicles that stored AIG’s biggest overseas lives insurance rates subsidiaries; and you will a combined $9.5 million confident return into Maiden Way II & III special purpose vehicles.
The combined earnings of $nine.5 million on Maiden Way II and you will III special purpose vehicle, which bought home loan-associated possessions away from AIG as well as counterparties, represented the most significant portion of the total $22.seven mil positive return.
Because financial crisis, AIG keeps performed a remarkable restructuring work, and that place it within the a more powerful status to settle taxpayers. How big is the organization might have been slash nearly in half because marketed low-center possessions and you will worried about its center insurance policies procedures. AIG’s Borrowing products unit (AIGFP) is actually remaining wound down possesses reduce their heritage derivatives publicity by more than 93 per cent thus far.
During the last 19 days, Treasury conducted six social choices off AIG well-known stock, offering all in all, 1,655,037,962 shares (to begin with 92 per cent away online personal loans ND from AIG’s a great common inventory) within the common price of $ each share. Treasury’s $20.7 mil AIG well-known stock giving inside the by yourself depicted the biggest unmarried U.Smon inventory giving in history.
Following the are key events once the restructuring at the beginning of 2011. Have a look at an info graphic detailing all major AIG purchases due to .
AIG paid down Treasury $dos.dos million from inside the arises from new purchases of its subsidiaries AIG Star Life insurance policies Co., Ltd. and you will AIG Edison Life insurance policies Providers so you can Prudential Financial, Inc.
AIG paid down Treasury $six.9 billion to minimize the same share off Treasury’s popular collateral interest in AIG. The brand new continues came from AIG’s deals of its guarantee share within the MetLife and from financing in the past stored from inside the anticipation regarding expenses relevant to your purchases of their Western Life insurance Co. (ALICO) to MetLife.
Treasury marketed 200 million offers out-of AIG common inventory getting continues out-of $5.8 billion, and you can terminated $dos mil regarding in the past the full time — however, undrawn funds.
AIG paid back Treasury $2.fifteen billion funded from the proceeds from this new purchases away from AIG’s Nan Shan life insurance subsidiary. The latest continues were used to expend right back the U.S. taxpayers’ money for the AIG through the redemption away from the same part out of Treasury’s prominent collateral hobbies for the AIA Aurora LLC, a part off AIG.
Treasury received a cost regarding AIG regarding $972 mil. The latest commission was funded mainly from the planned launch of escrowed arises from AIG’s marketing out-of ALICO, subsidiary so you can MetLife, Inc. The fresh proceeds were utilized to expend straight back brand new You.S. taxpayers’ investment inside AIG from redemption from an equal part away from Treasury’s well-known guarantee hobbies within the AIA Aurora LLC, a subsidiary away from AIG.