NU Online News Service, Mar. 27, 1:24 p.m. EDT
A lawyer for American International Group told a Connecticut legislative committee yesterday that attempts to cancel controversial AIG Financial Products unit bonuses would cause marketplace confusion.
Patrick Shea, counsel to AIG, also testified that under Connecticut state law AIG's Financial Products unit faced contractual and legal obligations to pay the $165 million in retention bonuses.
Recommended For You
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
© 2025 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.
