AIG could face a multi-million pound directors' and officers' (D&O) pay-out if Parmalat's administrators successfully sue Bank of America for $10bn (£5.6m) in damages.
Administrators of the failed Italian dairy company are suing Bank of America alleging the bank assisted Parmalat senior managers in structuring transactions that concealed Parmalat's insolvency.
Sources said that AIG provided D&O cover for Bank of America.
Bank of America has vowed to fight the allegations.
An AIG spokesman declined to comment.
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.
