Insurer American International Group Inc. eliminated the U.S. government’s last financial interest in the company on Friday, buying back warrants from the U.S. Treasury for about $25 million.
The government rescued AIG at the depths of the financial crisis as the insurer teetered on the brink of bankruptcy. The bailout ultimately totaled $182 billion, and when all was said and done the Treasury owned more than 90 percent of the company.
The Treasury sold the last of that stock last year but still held some warrants. AIG said Friday it had repurchased all of them. They had originally been issued in 2008 and 2009.
“The U.S. Treasury does not have any residual interest in AIG after AIG’s repurchase of these warrants,” the company said in a statement.
AIG shares fell 0.5 percent to $37.81 in afternoon trading.
Was this article valuable?
Here are more articles you may enjoy.
Travelers Reports Solid Underwriting, Record Investment Income for Q3 
Report: Auto Insurance Total Loss Frequency Climbs, More Drivers Pay Repairs 
Fisherman Killed by 12-Foot Alligator at Central Florida Lake 
All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery 
