US - Insurance and investment giant, American Insurance Group (AIG), has been partially nationalised by the US Federal Reserve after an emergency cash injection of $85bn to avoid a "disorderly failure" of the institution.
The deal, brokered late last night, has seen the US government take a 79.9% share of the company's equity after AIG teetered close to bankruptcy, mere days after investment bank Lehman Brothers col...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
