Legal News

$1.98 Billion Profit, AIG Reports
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

American International Group Inc. or AIG is the multinational insurance corporation. The company is a provider of property casualty insurance, life insurance and retirement services, and mortgage insurance. New York City based corporate, AIG, has repaid the $180 billion bailout it received, according to Bloomberg News. AIG Chief Executive Officer Robert Benmosche, told staff today that he was cutting 3 percent of the company’s workforce. That means AIG expects to eliminate about 1,500 jobs. AIG shares have advanced 28 percent in the past 12 months. Sales to commercial clients have increased by 9.8 percent to $4.84 billion.

Chief Executive Robert Benmosche said on CNBC, “We have seen that the public negative sentiment is down dramatically.” And Bloomberg reported that an analyst at BMO Capital Markets, Charles Sebaski, was quoted in an interview saying, “The investment environment is improving gradually for them.”

  
What
Where


Of the 23 analysts surveyed by Bloomberg, operating profit, which excludes some investing results, was $1.15 a share, exceeding the 97-cent average estimate. According to the 2013 Forbes Global 2000 list, AIG was the 62nd-largest public company in the world and it had a market capitalization of $57.53 billion as of April 2013.

On January 1, 2013 American International Group Inc. began an advertising campaign called, “Thank You America,” in which several company employees, including AIG President and CEO Robert Benmosche, talked directly to the camera and offered their thanks for the government’s assistance. In January 2013, AIG’s board discussed joining a lawsuit against the U.S. government because the bailout they received was unfair to their investors. The idea was rejected. AIG was criticized. The AIG board announced on January 9, 2013, that the company would not join the lawsuit, in January 2013, Bob Benmosche told reported to CNBC’s Maria Bartiromo that it would not be “socially acceptable” for AIG to sue the government, continuing that while people may be angry, “a deal’s a deal.”

For information about employment opportunities with AIG, readers can click here.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Image Credit: www.money.cnn.com





 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Insurance Defense Trial Attorney/ Senior Counsel

USA-CA-San Francisco

Job description Trial Attorney - Personal Injury Defense Full Job Description Hickey Smith ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top