<\/p>\nAmerican International Group Incorporated would pay its top executives $2.2m less this year than it did in 2010, as Chief Executive Officer Robert Benmosche\u2019s compensation remained at $10.5m, Bloomberg reported on Friday.<\/p>\n
American International Group Incorporated, the insurer working to exit a United States government rescue, will pay its top executives $2.2m less this year compared with 2010 as Chief Executive Officer, Robert Benmosche\u2019s compensation remains at $10.5m. <\/p>\n
Total compensation for the 23 executives declined by about 2 per cent, New York-based AIG said on Friday in a filing. Benmosche, hired out of retirement in August 2009, is being paid $3m in cash and $7.5m in stock. <\/p>\n
AIG was saved from collapse in September 2008 by a federal bail-out that ballooned to $182.3bn. In the fourth quarter of 2008, AIG reported the biggest quarterly loss in US corporate history. <\/p>\n
Benmosche, 66, has reshaped AIG through more than $50bn of asset sales and is seeking private investors as the US Treasury Department divests its 92 per cent stake. Benmosche sold a non-US life insurer to MetLife Incorporated for $16.2bn and raised $20.5bn divesting a majority stake in Hong Kong-based AIA Group Limited. <\/p>\n
Chief executive officers at other bailed-out companies, General Motors Company and Ally Financial Incorporated, also won\u2019t receive pay increases this year, the US Treasury Department said. <\/p>\n
<\/span>\n <\/div>\n<\/p>\n
Read More:
\nAIG executive pay declines by 2%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" American International Group Incorporated would pay its top executives $2.2m less this year than it did in 2010, as Chief Executive Officer Robert Benmosche\u2019s compensation remained at $10.5m, Bloomberg reported on Friday. American International Group Incorporated, the insurer working to exit a United States government rescue, will pay its top executives $2.2m less this year compared with 2010 as Chief Executive Officer, Robert Benmosche\u2019s compensation remains at $10.5m. Total compensation for the 23 executives declined by about 2 per cent, New York-based AIG said on Friday in a filing<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-367687","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n
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