Off "too big to fail" list
02 Oct 2017
US regulators are planning to release American International Group Inc. from the special government oversight ordered for the insurer after its central role in the 2008 financial crisis.
AIG has welcomed a decision by the US Financial Stability Oversight Council to remove its designation as a Systemically Important Financial Institution.
“The council has worked diligently to thoroughly re-evaluate whether AIG poses a risk to financial stability,” Treasury Secretary Steven Mnuchin said.
“This action demonstrates our commitment to act decisively to remove any designation if a company does not pose a threat to financial stability.”
AIG President and CEO Brian Duperreault says the move reflects “substantial and successful de-risking” that the insurer has achieved.
“The company is committed to continued vigilant risk management and to working closely with our numerous regulators to enable a strong AIG to continue to serve our clients,” he said.