$2.4m due to be paid last week held back by US Treasury
AIG did not pay $2.4m in scheduled bonus payments last week after the US Treasury Department withheld permission, Reuters reports.
The news came from George Madison, the Treasury's general counsel nominee, in response to confirmation hearing questions.
He said AIG is still negotiating with its executives to reduce the $235m in bonus payments due next year.
The bonuses were not paid because AIG is still working with Washington compensation czar Kenneth Feinberg on a number of issues.
AIG declined to comment, and a Treasury spokesman did not immediately respond to questions on the matter.
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.
