AIG System Condition
That integrated nearly $70 mil you to Treasury the full time as a result of TARP and $112 million the amount of time by Government Set-aside Lender of the latest York (FRBNY).
From inside the , Treasury sold their kept 234,169,156 offers out of AIG preferred inventory inside an enthusiastic underwritten personal providing to have aggregate continues of about $7.6 mil.
U.S. Agencies of Treasury
Providing impact to this income, the entire positive return towards the Government Set aside and you may Treasury’s joint $182 mil commitment to balance out AIG during the economic crisis is actually now $twenty two.seven mil, which have Treasury realizing an optimistic return out of $5.0 million together with Federal Set aside recognizing an optimistic come back of $17.7 billion.
As part of their full $5.0 billion self-confident go back to go out, Treasury realized a $cuatro.step 1 mil confident return with the its preferred inventory holdings and you may an excellent $0.nine million positive go back on its common inventory holdings. As part of the Government Reserve’s $17.seven million self-confident come back to date are good $six.8 billion confident come back to the Government Set-aside Financial of the latest York’s (FRBNY) funds to AIG; a $step one.4 million self-confident return towards the prominent interests in the AIA Aurora and you may ALICO special-purpose auto one kept AIG’s premier overseas lifetime insurance subsidiaries; and you will a combined $nine.5 billion confident get back with the Maiden Way II & III special purpose auto.
The latest mutual funds from $9.5 billion on Maiden Way II and you will III special purpose automobile, hence ordered financial-associated possessions out-of AIG and its own counterparties, depicted the most significant portion of the complete $twenty-two.seven billion positive come back.
Just like the overall economy, AIG has undertaken a dramatic reorganizing energy, and this put it inside the a more powerful position to repay taxpayers. The dimensions of the company has been cut nearly in two because sold low-core assets and you may concerned about their core insurance policies surgery. AIG’s Lending products product (AIGFP) are continuing to be injury off and it has cut its heritage derivatives exposure by the more than 93 percent up to now.
Over the last 19 months, Treasury conducted half a dozen societal products out-of AIG well-known stock, attempting to sell a maximum of step 1,655,037,962 shares (to start with ninety-five percent regarding AIG’s outstanding popular inventory) during the the typical price of $ for each show. Treasury’s $20.eight million AIG popular stock offering from inside the by yourself represented the biggest unmarried U.Smon stock providing of all time.
Following are foundational to incidents because restructuring during the early 2011. Consider an ideas visual outlining all the big AIG transactions using .
AIG paid off Treasury $dos.2 mil from inside the arises from the fresh revenue of the subsidiaries AIG Star Term life insurance Co., Ltd. and you can AIG title loans in West Virginia Edison Life insurance policies Organization to help you Prudential Financial, Inc.
AIG paid Treasury $6.9 mil to reduce the same show out-of Treasury’s preferred security demand for AIG. The fresh continues originated from AIG’s product sales of their guarantee share for the MetLife and out-of money previously held in expectation out-of costs relevant towards the deals of the Western Life insurance Co. (ALICO) so you can MetLife.
Treasury ended up selling 2 hundred million offers away from AIG preferred inventory getting proceeds away from $5.8 million, and you may terminated $2 mil away from in earlier times the full time — but undrawn fund.
AIG paid down Treasury $2.fifteen million funded from arises from the new deals off AIG’s Nan Shan insurance subsidiary. This new proceeds were used to expend right back the new U.S. taxpayers’ funding inside the AIG from redemption out-of an equal portion from Treasury’s common equity interests in AIA Aurora LLC, a part off AIG.
Treasury gotten a repayment from AIG out of $972 billion. The fee are financed mostly from the arranged launch of escrowed arises from AIG’s sales from ALICO, part so you can MetLife, Inc. New continues were utilized to pay straight back the newest You.S. taxpayers’ financing in AIG through the redemption away from the same section out of Treasury’s preferred equity appeal from inside the AIA Aurora LLC, a subsidiary of AIG.