The US Financial Stability Oversight Council (FSOC) has excluded American International Group (AIG) from the ‘too big to fail’ institutions’ list.
The regulators said that AIG will not be designated as a Systemically Important Financial Institution (SIFI), and subsequently, it will no longer be held to heightened regulatory standards.
Go deeper with GlobalData
AIG was saved through an $182bn government bailout at the height of the 2008 financial crisis. After that, the insurer was forced to downsize its operations by divesting numerous divisions.
US Department of the Treasury Secretary Steven Mnuchin said: “The Council has worked diligently to thoroughly reevaluate whether AIG poses a risk to financial stability.
“This action demonstrates our commitment to act decisively to remove any designation if a company does not pose a threat to financial stability.”
Commenting the FSOC’s decision, AIG CEO Brian Duperreault said: “The Council’s decision reflects the substantial and successful de-risking that AIG’s employees have achieved since 2008.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The company is committed to continued vigilant risk management and to working closely with our numerous regulators to enable a strong AIG to continue to serve our clients.”
