AIG debt drops by 25 billion USD

AIG has brought its debt owed to the public authorities down to 17 billion USD thanks to the sale of two life subsidiaries. This move has involved International Assurance Company Limited (AIA) and American Life Insurance Company (ALICO), both of which are AIG's property and poised to be listed. Among the funds saved, 25 billion USD of golden shares will be made available to the Fed, which will considerably reduce the group's debt.