American International Group's chief executive Martin Sullivan told analysts after Tuesday's filing of AIG annual report and restatements that he believes his company's accounting practices have now been thoroughly reviewed and that there won't be any more restatements in the future.
AIG's CEO Martin Sullivan said during an analyst conference call on Wednesday: "We went though a very extensive review of all our major businesses globally, from bottom up and top down. We believe there should be no further restatement going forward."
He added, "This provides an in-depth disclosure about financial results of 2004 and our restated results for prior periods. We still have work to do, but the investing public can now focus on AIG's future."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
