Dinallo to testify at the hearing of the Senate to the aid p

 

Thursday, Mar 05,2009, 5:08:30 PM   Click:

Dinallo to testify at the hearing of the Senate to the aid plan AIG Alyn Ackermann
New York Insurance Superintendent Eric Dinallo is scheduled to appear next week at a Senate Banking Committee hearing to examine U.S. the $ 150 billion federal rescue plan for American International Group.

Dinallo testify to 5 March event, "said New York Insurance Department Andy But the spokesman. Other witnesses include officials from the Federal Reserve and the Office Savings, said more.

Efforts to obtain comments from the committee chairman, Senator Christopher Dodd, D-Conn. And officials in New York, AIG had not been successful.

AIG confirmed this week that it is in discussions with federal officials "new solutions" to support the insurer $ finances as part of its rescue plan 150 billion (BestWire, Feb. 24, 2009).

Dodd Committee included language in the $ 787.2 billion stimulus plan signed by President Barack Obama last week that retroactive wage ceilings executives at AIG and other companies that have received federal assistance in the part of the Troubled Asset Relief Program (BestWire, Feb. 17, 2009).

Most of the AIG insurance companies currently have a Best's financial strength rating of A (Excellent) with a negative outlook.

Shares of AIG for $ 0.55 in morning trading on 26 February, up 19.6% from the close.

(By Alyn Ackermann, senior editor, BestWeek: Alyn.Ackermann @ ambest.com)

Copyright © 2009 hours Best Company, Inc. New York Insurance Superintendent Eric Dinallo is scheduled to appear next week at a Senate Banking Committee hearing to examine U.S. the $ 150 billion federal rescue plan for American International Group.