AIG Insurance… Hanging on by Strings

With today’s market collapse, I just noticed that AIG Insurance is barely hanging in there.

AIG insures a lot of people here in Hawaii.

One Response

  1. AIG is worldwide insurance conglomerate. The aspect of their business causing its downfall is its involvement with the sub prime mortgage crisis.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aq6ZlNtItdj4&refer=home

    The other aspects of their business which insures cars/homes,aircraft leasing (ILFC) etc is healthy and solvent.It is likely the latter businesses may
    be spun off if AIG files for bankruptcy.

    Interestingly, Berkshire Hathaway (Warren Buffett) is a major shareholder in AIG.

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