In a deal that will help AIG raise funds to pay back part of its government bailout, US insurance giant MetLife will take over American Life Insurance Company (ALICO), an overseas unit of AIG, in a deal worth 15.5 billion dollars.
Beleaguered insurance giant AIG, bailed out by the US government last year, still needs to repay nearly 121 billion dollars in taxpayer aid, according to an official report published on Monday by the US Government Accountability Office.
Beleaguered insurance giant AIG, bailed out by the US government last year, has announced a loss of 4.35 billion dollars for the first quarter of 2009. This is, however, its smallest loss in 18 months.
In this edition: Web users react to Barack Obama's handling of the crisis and exec bonuses; bloggers target South Africa after its refusal to grant the Dalai Lama a visa and Playboy creates online access to its archives from 1954 to 2006.