“ This business will disassemble on spare parts “
AIG Insurance group American International Group (AIG) sells actives for debt payment
sells the actives somewhat quicker to return to the state 85 mlrd the dollars allocated in September FRS the USA in exchange for 79,9 % of its actions. New head AIG Edward Liddi has promised to investors to transform the hardly not ruined monster from 116 thousand employees in “ the small mobile company “. G - n Liddi has told that will sell exactly so much actives, how many it is required, will return to the state all money and will increase the capital for normal functioning.
at present from given FRS credit AIG has used 61 mlrd dollars the new head of the insurer Appointed instead of dismissed general director Morisa Grinberg Edward Liddi has declared on Friday that the company will return this money for what will sell all not profile actives in the USA, to Europe, Latin America, Jugo - East Asia and Japan. “ We try to be focused on traditionally strong for us insurance of property and insurance upon incidents “ - has told g - n Liddi daily. In this sector the company will leave to itself all operations in the USA, and also will keep the general insurance business abroad.
“ under present circumstances AIG it will be very difficult to sell actives to repay to the government all debt, - the economist of analytical agency Global Insight Nariman Beravesh has declared daily. - At AIG there are some profitable actives with which help in due course it could pay off with the government, but now return money very difficult “. Cash as as percent on a debt annually it is necessary to pay 8 mlrd dollars
For three quarters 2008 AIG are very necessary to Edward Liddi has informed on losses for the sum 18,5 mlrd dollars, has written off hopeless actives on 25 mlrd dollars, and its actions for a year have lost in cost of 90 %. Edward Liddi has declared that with AIG variety of possible buyers already communicated. He has specified that AIG intends to transfer assets literally “ in good hands “ and large transactions it is more preferable. “ credit FRS allows us to sell organizovanno and is prudent, instead of in an emergency order “ - has explained g - n Liddi. Concrete buyers he did not name, however, according to agency Bloomberg, the world`s largest overcautious person Munich Re is interested in expansion of the basic insurance, therefore looks narrowly at actives AIG. Canadian Manulife Financial has become interested in the Asian divisions of company AIG. Vienna Insurance Group and Tokio Marine Holdings also can act in a role of buyers. AIG has already confirmed intention to sell 50 - a percentage share in London City Airport and the pension divisions.
according to experts, AIG will force to return all to cent even if for this purpose it is necessary to sell all actives. “ This business will disassemble on spare parts to an unrecognizability condition, - head Front Barnett Associates considers Marshall Front. - it is difficult to understand that in general remains to shareholders “. The billionaire Warren Baffett who is buying up fallen in price actives, in the end of September has declared to TV channel CNBC that would be not against to get pair of divisions AIG.