Key Developments: American International Group Inc (AIG.N)

AIG.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

American International Group announces settlement with Bank of America on residential mortgage related disputes
Wednesday, 16 Jul 2014 07:00am EDT 

American International Group Inc:Reaches a global resolution of its residential mortgage related disputes with Bank of America.Resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses.Under the terms of the settlement, AIG will receive $650 mln in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement.Parties have agreed to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.  Full Article

American International Group Inc launches new line of multinational commercial property products and services
Wednesday, 18 Jun 2014 10:00am EDT 

American International Group Inc:Launches new line of multinational commercial property products and services, including expanded coverage, loss prevention engineering, and risk management solutions, for mid-sized businesses confronting global risk exposures.  Full Article

American International Group Inc names Peter D. Hancock President and CEO
Tuesday, 10 Jun 2014 04:04pm EDT 

American International Group Inc:Says that its Board of Directors has named Peter D. Hancock as President and Chief Executive Officer, the company effective Sept. 1.Peter D. Hancock succeed Robert H. Benmosche, who currently is AIG President and Chief Executive Officer.  Full Article

American International Group, Inc authorizes repurchase of additional shares
Thursday, 5 Jun 2014 06:27pm EDT 

American International Group, Inc:Announced that its has authorized the repurchase of additional shares of AIG common stock with an aggregate purchase price of up to $2.00 billion.Says repurchases may be made from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions, or otherwise.  Full Article

Al Waha Capital PJSC subsidiary completes acquisition of International Lease Finance Corporation from American International Group Inc
Wednesday, 14 May 2014 08:00pm EDT 

Al Waha Capital PJSC:Announces that its subsidiary, AerCap Holdings N.V., has completed the acquisition of International Lease Finance Corp (ILFC) from American International Group Inc (AIG).  Full Article

American International Group Inc completes sale of International Lease Finance Corporation to AerCap Holdings NV
Wednesday, 14 May 2014 05:13pm EDT 

American International Group Inc:Completes the sale of 100 pct interest in International Lease Finance Corporation (ILFC) to AerCap Holdings N.V in exchange for consideration of $3.0 billion of cash and 97,560,976 newly issued AerCap common shares.Says total value of the consideration is about U.S. $7.6 billion based on AerCap's closing price per share of $47.01 on May 13.  Full Article

American International Group declares common stock dividend of $0.125 per share
Monday, 5 May 2014 04:05pm EDT 

American International Group Inc:Declares a dividend of $0.125 per share on AIG common stock, par value $2.50 per share.Payable on June 24 to stockholders of record at the close of business on June 10.  Full Article

American International Group Corp's International Lease Finance Corp and Azul Brazilian Airlines sign agreement to lease five Airbus A350-900 and Three A330-200 Aircraft
Wednesday, 23 Apr 2014 10:30am EDT 

International Lease Finance Corp:Signs an agreement with Azul Brazilian Airlines (Azul) to lease five Airbus A350-900 and three A330-200 aircraft.Aircraft will be operated on the airline's new international routes from São Paulo/Campinas airport to the U.S., which are expected to launch in early 2015.The A350-900 aircraft are anticipated to deliver in 2017, while deliveries of the A330-200 aircraft are expected to begin in 2014.Rolls-Royce engines will power the aircraft.International Lease Finance Corp is a subsidiary of American International Group, Inc.  Full Article

American International Group Inc increases quarterly common stock dividend by 25 pct; authorizes repurchase of additional shares of AIG common stock
Thursday, 13 Feb 2014 04:03pm EST 

American International Group Inc:Declares a dividend of $0.125 per share on AIG common stock, par value $2.50 per share (AIG Common Stock), an increase of $0.025.Says the dividend is payable on Mar. 25, to stockholders of record at the close of business on Mar. 11.Authorizes the repurchase of additional shares of AIG Common Stock with an aggregate purchase price of up to $1.0 billion.Says as of Feb. 13, AIG has repurchased about $600 million of shares of AIG Common Stock pursuant to a prior authorization from the Board of Directors to repurchase shares of AIG Common Stock with an aggregate purchase price of up to $1.0 billion.Says resulting in an aggregate remaining authorization of about $1.4 billion.Says repurchases may be made from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions, or otherwise.  Full Article

AerCap Holdings N.V. to acquire International Lease Finance Corp from American International Group Inc
Monday, 16 Dec 2013 07:00pm EST 

Al Waha Capital PJSC:Says that it has agreed to vote in favor of its 26.3% stake owned subsidiary, AerCap Holdings N.V., proposed acquisition of International Lease Finance Corporation (ILFC) from American International Group (AIG).Says under the deal, AerCap will acquire 100 percent of the common stock of International Lease Finance Corp, and AIG will receive $3.0 billion in cash and 97.6 million newly issued AerCap shares.Says based on the closing share price of AerCap’s ordinary shares on Friday Dec. 13, the total consideration has a value of approximately $26 billion including the assumption of the outstanding ILFC net debt of $21 billion.Says upon closing of the transaction, AIG will own approximately 46 percent of the combined company, while the existing AerCap shareholders will own approximately 54 percent of the combined company.Says Al Waha Capital PJSC, which currently has a 26.3 percent stake in AerCap, will see its shareholding reduced to approximately 14 percent.Says the transaction is expected to close in the second quarter of 2014, subject to approval by AerCap shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions.  Full Article

BofA pays AIG $650 million to settle mortgage disputes

NEW YORK - Bank of America Corp agreed to pay the insurer American International Group Inc $650 million to settle long-running legal disputes over defective mortgage-backed securities that the bank sold in the run-up to the financial crisis.

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