AIG reaches $1.64 billion settlement with regulators.American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. reached settlements totaling $1.64 billion with federal and state authorities that it says resolved outstanding litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. related to accounting, financial reporting and insurance brokerage practices, as well as claims related to workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. premium taxes. The settlements, with the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the office of New York state Attorney General The New York State Attorney General is the chief legal officer of the State of New York. The office has been in existence in some form since 1626, under the Dutch colonial government of New York. Eliot Spitzer and the New York State Insurance Department, will result in an after-tax charge of $1.15 billion to AIG's fourth-quarter 2005 earnings, the company said. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion