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March 17th, 2009

73 at AIG Received Bonuses of $1 Million or More

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Written by: The Iowa Republican

New York Attorney General Andrew Cuomo said Tuesday that American International Group Inc. (AIG) granted retention bonuses of $1 million or more to 73 people in its AIG Financial Products subsidiary, including 11 who no longer work at the company.

In a letter to House Financial Services Committee Chairman Barney Frank on Tuesday, Cuomo said the top 10 bonus recipients combined received $42 million, with the top recipient getting more than $6.4 million.

Cuomo has blamed the unit for the insurer’s near collapse last year. The attorney general said 11 people who have left the company received retention bonuses of $1 million or more, with one person getting $4.6 million. Read more here.

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The Iowa Republican

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