Washington — In a significant overhaul of their plan to rescue American Insurance Group, federal officials have agreed to inject billions of dollars into the insurance giant while easing terms of an existing credit line and creating two new lending programs for the firm.

To prop up "the systemically important" but ailing insurer, the Treasury Department Monday said it will funnel $40 billion of its $700 billion bailout funds into the insurance firm to purchase newly issued AIG preferred shares.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access