Rebuilding a Better AIG
The new CEO's background inspires confidence that he can fix issues.
American International Group (AIG) has been a troubled company since the financial crisis, although its worst problems then primarily related to its financial products division, and all the issues that led to its blowup and subsequent government support having been reduced to a point of immateriality.
Still, AIG would have destroyed substantial shareholder value even if it had never written a single credit default swap, as noncore businesses needed to be shed and even its core operations had serious problems.
Brett Horn does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.