American International Group Inc. decided to hold back some of the bonuses originally scheduled to be paid to dozens of senior managers on July 15.

George Madison, the nominee to be U.S. Treasury general counsel, disclosed this in a public statement as an answer to questions from Iowa Sen. Charles Grassley, reports Reuters. Madison's information was correct, confirmed a source close to the matter.

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