Credit Crunch

14/07/2009   Uncertainty and risk surrounding AIG remain very real?

After multiple rounds of financing from the U.S. Treasury, American International Group Inc. is striving to sell off assets to repay its borrowings. Since coming back from the brink of bankruptcy in late 2008, AIG efforts to generate cash continue. Its profitable insurance operations were not affected by the massive losses generated by its AIG Financial Products unit, but AIG has created a separate holding company for its ongoing property/casualty insurance businesses.

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Shares of American International Group Inc. plummeted more than 27% last Thursday after a Citigroup analyst said the value of the troubled insurer's equity may fall to zero, and investors stepped up their bearish bets.