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 owns 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, and agreed to sell part of 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)
Connect to this executive |
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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.Significant Developments
View company events at AIG Financial Products Corp. such as IPOs, bankruptcies, or executive changes
| Event | Details |
|---|---|
| Top Executive Change | Subscribers get full details -- view a sample |
| Top Executive Change |
