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AIG

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AIG
A large insurance and financial services company. It was established in 1919 in Shanghai, where it was the first Western company to sell insurance in China. It went on to become one of the largest companies in the world, underwriting more commercial and industrial insurance in the United States than any other company. Its credit rating fell below AA in September 2008, which caused a liquidity crisis in the company. It subsequently required a bailout in the form of loans from the Federal Reserve to stay afloat. It also received money from TARP. At the time, it was the largest bailout of a private company in U.S. history.


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AIG was saved from bankruptcy with an 85-billion-dollar US government lifeline in September.
The global financial firestorm claimed a fresh victim Wednesday as top British mortgage lender HBOS said it was in takeover talks after a huge US bailout of insurer AIG helped underpin volatile share prices.
has named CHARLES WILLIAMSON president of the AIG Private Client Group.
 
 
 
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