|
Hancock said, however, that AIG was "reserving judgment" on
whether to apply for exemption for now.
AIG's near collapse in 2008 and its $182 billion bailout by the
U.S. government was the driving force behind the inclusion of
certain non-bank financial companies as "systemically important
financial institutions" (SIFIs).
The SIFI designation means regulators believe a collapse of the
company could devastate the U.S. financial system just as much
as the failure of a major bank and comes with increased
regulatory oversight and capital requirements.
Hancock said AIG had a strong case to get its SIFI tag removed
as the company had shrunk its balance sheet over time.
"The whole world was somewhat surprised" by the MetLife ruling,
he added.
General Electric Co's <GE.N> GE Capital, another non-bank,
formally asked the U.S. government on Thursday to stop
designating it a SIFI.
Activist investor Carl Icahn, who is AIG's fifth largest
shareholder, has wanted the insurer to become smaller and
simpler to allow it to shed its label as a non-bank SIFI.
Shares of AIG, which have fallen 12 percent so far this year,
were up about 0.8 percent at $54.95 in premarket trading.
(Reporting By Sudarshan Varadhan in Bengaluru; Editing by Ted
Kerr)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
