(Reuters) - U.S. authorities on Tuesday put together an emergency $85 billion rescue of insurer American International Group Inc to stave off a possible bankruptcy, and avoid throwing world markets already shaken by the deepening credit crisis into more turmoil.
The U.S. Federal Reserve planned to extend a two-year loan to AIG in exchange for a 79.9 percent equity stake, just two days after Washington refused to bail out investment bank Lehman Brothers Holdings Inc, which went bankrupt.
Here are some facts on AIG:
— Employs more than 116,000 employees, and many full- and part-time agents, worldwide.
— Operates in 130 countries and jurisdictions, including Brazil, China, India and Taiwan, as well as the United States and United Kingdom.
— Business segments are General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management.
— Has assets of more than $1 trillion.
— Lost $5.36 billion in the second quarter on bad mortgage investments, its third straight quarterly loss.
— Bailout brings U.S. rescue efforts to stabilize the financial system and housing market to about $900 billion.