Current Report Filing (8-k)
July 16 2014 - 7:09AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 16, 2014
AMERICAN INTERNATIONAL GROUP, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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1-8787 |
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13-2592361 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
175 Water Street
New York, New York 10038
(Address of principal executive offices)
Registrants telephone number, including area code: (212) 770-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 Other Events
Item 8.01. Other Events.
On
July 16, 2014, American International Group, Inc. (the Company) issued a press release announcing a settlement with Bank of America on residential mortgage related disputes. A copy of the press release is attached as Exhibit 99.1 to
this Current Report on Form 8-K and is incorporated by reference herein.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
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99.1 |
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Press release of American International Group, Inc. dated July 16, 2014. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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AMERICAN INTERNATIONAL GROUP, INC.
(Registrant) |
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Date: July 16, 2014 |
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By: |
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/s/ James J. Killerlane III |
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Name: |
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James J. Killerlane III |
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Title: |
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Associate General Counsel and Assistant Secretary |
EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1 |
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Press release of American International Group, Inc. dated July 16, 2014. |
Exhibit 99.1
FOR IMMEDIATE RELEASE
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Press Release AIG
175 Water Street New York, NY 10038
www.aig.com |
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Contacts: Liz Werner (Investors): 212-770-7074;
elizabeth.werner@aig.com Jon Diat (Media): 212-770-3505; jon.diat@aig.com |
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AIG ANNOUNCES SETTLEMENT WITH BANK OF AMERICA ON
RESIDENTIAL MORTGAGE RELATED DISPUTES |
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NEW YORK, July 16, 2014 American International Group, Inc. (NYSE: AIG) today announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America. The
resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their
participation in AIGs securities lending program. The resolution also covers AIGs objections to the $8.5 billion settlement of Countrywides mortgage repurchase obligations to various investors, as well as disputes concerning
the issuance of mortgage guaranty insurance by AIGs United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650 million in cash plus its pro rata share of whatever amount is
ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding
mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae. |
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We are very pleased to have this matter resolved, said Robert H. Benmosche, AIG President and Chief Executive Officer. Todays settlement is a just resolution thats in the best interest
of our various stakeholders. |
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# # # |
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American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual
customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New
York Stock Exchange and the Tokyo Stock Exchange. |
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Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig |Twitter: @AIGInsurance | LinkedIn: http://www.linkedin.com/company/aig | |
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at
www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all jurisdictions, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and
insureds are therefore not protected by such funds. |
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