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posted on Feb. 9, 2006
AIG Announces Settlements with Federal and New York Authorities and General Insurance Reserve Charge
Fourth Quarter 2005 to Include $1.15 Billion After-Tax Charge for Settlements and $1.10 Billion After-Tax Reserve Charge
American International Group, Inc. (AIG) announced Thursday that it has reached a resolution of claims and matters under investigation with the United States Department of Justice (DOJ), the Securities and Exchange Commission (SEC), the Office of the New York Attorney General (NYAG) and the New York State Department of Insurance (DOI). These settlements will result in an after-tax charge of approximately $1.15 billion to be recorded in the fourth quarter of 2005.
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