If the words of Robert H. Benmosche, Chief of AIG, are to be believed then the insurance company is all set to pay back the federal debt that it took during the time of recession.
Talking to media, Robert said that AIG has posted financial results which suggest that it has been making progress which is noteworthy and that it is in a position to pay back all the taxpayers money that was given to it.
AIG posted a loss of $2.7 billion for second quarter and most of it was due to the stemming from $3.3 billion charges that it had to pay for selling one of its major international unit, MetLife.
If the charge is removed then it posted a profit of $1.3 billion and an operating income of $2.2 billion.
In another news, the insurance firm has decided that it will be selling its consumer finance unit. This is one of the several sell decisions are being taken to make a turnaround of the firm.
The strategy is to sell off its non-performing or least performing units so that AIG is smaller and more profitable.