New York insurance superintendent expects AIG asset sale to start 'within weeks'
New York insurance superintendent Eric Dinallo, chairman of a new National Association of Insurance Commissioners task force, said he expects American International Group to begin selling state-domiciled units within weeks to satisfy its $85bn bailout loan from the Federal Reserve Bank of New York, Reinsurance magazine reports.
The sales could involve 71 companies domiciled in 19 states, roughly one-third of the total number of AIG companies. The role of the task force will be primarily to provide constant communications
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