AIG Financial Products Corp.
Overview
AIG Financial Products carries the dubious distinction of nearly causing the collapse of its parent, insurance giant American International Group (AIG). The company lost billions of dollars trading risky credit default swaps, spurring the Federal Reserve to step in and bail AIG out to the tune of $182 billion. As a result, the federal government took a stake of some 80% of AIG. Additionally, AIG Financial Products stopped accepting new business and began winding down operations. In 2009 it sold its commodity index business to UBS, sold its energy and infrastructure holdings to an undisclosed buyer. The company previously sold its stake in the London City Airport to Global Infrastructure Partners.
Sample OverviewKey Numbers from Hoover's UK
Key financials for AIG Financial Products Corp.
| Company Type | Subsidiary of AIG |
|---|---|
| Fiscal Year-End | December |
Key People from Hoover's UK
Key people and executives for AIG Financial Products Corp.
| Interim President and CEO | William N. (Bill) Dooley (Subscribers see complete biographies -- view sample)
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Top Competitors from Hoover's UK
Top competitors of AIG Financial Products Corp.
There are 8 competitors for AIG Financial Products; see more.
