BGN Entrepreneur

American International Group (AIG), a major American insurance corporation based at the American International Building in New York City, is one of the world’s biggest insurers. According to the Forbes Global 2000 list in 2008, the group is the 18th-largest company in the world now.
Recently, as the America’s central bank agreed on assigning a two-year rescue loan of $85 billion to the group, it has been saved from the brink of collapse after the US Federal Reserve. AIG will pay a high rate of interest for it. Meanwhile, the deal gives the US Government a 79.9% stake in the insurer, and the government will also be given the right to stop payments of dividends to shareholders. The central bank hopes that the will halt plummeting financial markets, which are already reeling from the collapse of Lehman Brothers and sale of Merrill Lynch at the weekend. However, though the central bank moves to steady the global financial system with the unprecedented bailout, it fails to calm Asia markets.

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