In 1707 Daniel Hayes Born C

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Following fellow US insurer The Hartford ridding itself of its debt to the federal government earlier this yr, AIG is now the one insurance coverage firm nonetheless being propped up with authorities funds. The slowly-recovering, government-backed insurer reported internet earnings of $1.5bn for the primary quarter of 2010, a reverse from a net loss of $4.4bn in the primary quarter of 2009. Regardless of the improvement, analysts remain sceptical about AIG’s recovery. Gallant precipitated AIG’s share price to drop 6% on April 27 after he launched a report saying there may be little lengthy-term worth in AIG’s shares beneath its possession structure and that the shares are grossly overvalued.


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