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Friday, March 1, 2013

AIG ends U.S. government interest with warrant buyback, (NYSE: AIG)

Insurer American International Group Inc eliminated the U.S. government's last financial interest in the company on Friday, buying back warrants from the U.S. Treasury for about $25 million.The government rescued AIG at the depths of the financial crisis as the insurer teetered on the brink of bankruptcy. The bailout ultimately totaled $182 billion, and when all was said and done the Treasury owned more than 90 percent of the company.The Treasury sold the last of that stock last year but still held some warrants. AIG said Friday it had repurchased all of them. They had originally been issued in 2008 and 2009."The U.S. Treasury does not have any residual interest in AIG after AIG's repurchase of these warrants," the company said in a statement.

American International Group, Inc. (AIG) is an international insurance company, serving customers in more than 130 countries. Shares of AIG fell by 0.32% or $-0.12/share to $37.89. In the past year, the shares have traded as low as $27.18 and as high as $39.90. On average, 24923400 shares of AIG exchange hands on a given day and today's volume is recorded at 6818714.