Insurer obliged to pay $195m in bonuses at defunct division
AIG is exploring ways to repay $26m of the $45m in bonuses that executives at its financial products unit pledged to return last year, including a plan to cut 2010 bonuses but pay them out early, Reuters reports.
Bonuses could be paid early if staff agree to 15% cuts. By doing so, AIG -- which is obligated to pay out $195m in retention bonuses in March to AIG Financial Products employees -- would recoup the $26m needed to cover the shortfall.
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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.
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.
