AmericanInternational 2ndLd-Writethru 09-14
AIG to announce turnaround plan
CHARLOTTE, N.C.— American International Group Inc. said Sunday it is reviewing its operations and discussing possible options with outside parties to improve its business after a week when its stock dropped 45 percent amid concerns about the company’s financial underpinnings.
New York Insurance Superintendent Eric Dinallo and a representative of the state’s governor’s office have spent the weekend at AIG’s offices working with the company and others to craft a solution that protects policyholders.
AIG’s chief executive, Robert Willumstad, who took the reins on the world’s largest insurer in June, may announce a turnaround plan today, possibly involving the disposal of major assets including its aircraft-leasing business and other holdings, the Wall Street Journal reported Sunday.