Conversion of preference shares for sell off confirmed later

AIG’s board will today finalise a restructuring plan to increase the US Treasury’s stake to about 90% by converting $49m of preference shares into ordinary stock to be sold off, the FT reports.

The government will offer the outside shareholders whose shares will have been diluted by the moves warrants giving them the right to buy AIG shares in the future at a discount.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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