AIG is reducing its risk, says CEO
Peter Hancock suggests he finds SIFI status less objectionable and thinks insurer could work with its Fed regulators
New York
IF THERE is a path leading out of the realm of "systemically important financial institutions", American International Group (AIG) may already be on it, the insurer's chief executive told securities analysts.
The chief executive, Peter Hancock, made his remarks on Friday in a conference call to discuss AIG's first-quarter profit, which was US$1.22 a share, a little better than the US$1.19 a share that analysts had predicted. He also described the measures that AIG had been taking to strengthen its balance sheet and reduce risk.
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