AIG, back to its roots

The American insurer AIG has announced its decision to readopt its original brand name. After its bailout by the State in 2008, the world’s former most important insurer has operated under the brand names of Chartis in non-life insurance or under SunAmerica in life insurance. Today, even if the State is still shareholder, the group managed to refund the entire 182 billion USD it owed the Government. The Federal Reserve and American Treasury received 15 billion USD of the profits from this move. The results posted for the third quarter of 2012 yielded a net profit 1.9 billion USD against a loss of 4 billion USD a year before. Such figures are likely to spread optimism and restore trust in AIG image.