AIG France CEO: AIG Europe To Announce Capital Increase
January 20 2009 - 5:23AM
Dow Jones News
AIG Europe, a subsidiary of troubled insurance giant American
International Group Inc (AIG), has raised EUR680 million through a
capital increase comprising cash and subordinated debt, the chief
executive of AIG France said at a presentation Tuesday.
The capital increase will ensure the group's future development,
boost its solvency levels and will be announced in the following
days, AIG France's CEO Nicolas Aubert said.
Aubert also reiterated earlier comments from AIG executives that
property and casualty will be the company's future core activities
and as a result AIG Europe and AIG France aren't part of the parent
company's worldwide asset disposal plan.
-By Nicolas Parasie, Dow Jones Newswires; +33 1 4017 1740;
nicolas.parasie@dowjones.com
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