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Financial Planning > UHNW Client Services > Family Office News

Insurance Giant Officially Delays 10-K

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NU Online News Service, March 17, 2005, 9:29 a.m. EST

American International Group Inc., New York, says it needs more time to complete its official 2004 annual report.[@@]

The insurer has filed a notice with the U.S. Securities and Exchange Commission confirming a statement made Tuesday that the company probably would need more time to incorporate news about the election of a new chief executive officer and a new chief financial officer in its 10-K.

AIG also needs more time to incorporate the results of an “ongoing internal review of the accounting for certain transactions, which review was commenced in connection with previously announced regulatory inquiries and is continuing,” the company says.

In related news, AIG says it has placed Christian Milton, the vice president for reinsurance, on administrative leave. AIG has not given any reasons for that move.

AIG also has confirmed it will pay a regular quarterly cash dividend of 12.5 cents per share June 17 to shareholders who are shareholders of record June 3.


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