Crisis has struck on insurance giant AIG
Morris Grinberg, who has almost for 40 years supervised insurance company AIG, approves, that the company is “in crisis”, and insists on canceling of shareholders’ annual assembly.
He stated this requirement in the letter to board of AIG directors, which copy is directed to the US Commission under securities and stock exchanges. Grinberg has emphasized that he, as well as millions other investors, are concerned by deterioration of position of the great company.
Former AIG general director does not accept incessant and seeming infinite destruction of cost AIG. During last year company’s shares have fallen in price on 72,5 %.
In reply to Grinberg’s letter management of the insurance company has declared, that it does not see necessity to postpone shareholders’ assembly.
Last week AIG has declared about the largest for the history loss – $7,8 billion, which has been caused by write-offs almost $15 billion the actives, provided by credit and hypothec tools.