SEC pressured insurer into revealing sum
AIG has diclosed that it will receive $125m in return for selling a majority stake of its consumer finance unit to private equity firm Fortress following regulatory pressure to reveal the amount, Bloomberg reports.
The insurer had opted not to disclose the amount in an 11 August filing because it considered the sum immaterial. However, the US Securities and Exchange Commission asked AIG on 18 August to explain why the deal wasn't a "material definitive agreement not made in your ordinary course of business".
The correspondence between AIG and the regulator was released on Monday.
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.
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