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February 10, 2006 at 02:17 PM
The $1.64 billion settlement announced yesterday between American International Group Inc. and a variety of state and federal agencies will cover only allegations of wrongdoing on the property-casualty side of the business.
AIG Chief Executive Martin Sullivan emhasized that point during a conference call Thursday.
“These settlements do exclude the life company,” Sullivan said. “Those charges are the target of investigations by the New York attorney general’s officer with which we are cooperating fully.”
