AIG raises nearly $37 billion to repay government
American International Group, Inc. announced today that it has raised nearly $37 billion to repay the United States government through its sale of one insurance subsidiary, American Life Insurance Company, and the initial public offering of a second, AIA Group Limited.
AIG, the giant insurer bailed out by the US government, posted its first profit in seven quarters on Friday, helped by large investment gains as financial markets improved, sending its shares up 20 percent.