UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2013
AMERICAN INTERNATIONAL GROUP, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 1-8787 | 13-2592361 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
180 Maiden Lane
New York, New York 10038
(Address of principal executive offices)
Registrant’s telephone number, including area code: (212) 770-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 — Other Events
Item 8.01. Other Events.
On August 26, 2013, American International Group, Inc. (“AIG”) issued a press release announcing that it has agreed to the consensual termination of an interest rate swap agreement with Brookfield Asset Management, Inc., in exchange for the payment from Brookfield to AIG of $905 million. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Section 9 — Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. |
| 99.1 | Press release of American International Group, Inc. dated August 26, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMERICAN INTERNATIONAL GROUP, INC. (Registrant) | ||||||
| Date: August 26, 2013 | By: | /s/ Jeffrey A. Welikson | ||||
| Name: | Jeffrey A. Welikson | |||||
| Title: | Vice President, Corporate Secretary and Deputy General Counsel | |||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press release of American International Group, Inc. dated August 26, 2013. | |
Exhibit 99.1
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FOR IMMEDIATE RELEASE |
| Press Release AIG 180 Maiden Lane New York, NY 10038 www.aig.com |
Contacts: Jon Diat (Media): 212-770-3505; jon.diat@aig.com Liz Werner (Investors): 212-770-7074; elizabeth.werner@aig.com |
AIG ANNOUNCES AGREEMENT TO TERMINATE SWAP AGREEMENT WITH BROOKFIELD ASSET MANAGEMENT
NEW YORK – August 26, 2013 — American International Group, Inc. (NYSE:AIG) today announced that it has agreed to the consensual termination of an interest rate swap agreement with Brookfield Asset Management, Inc., in exchange for the payment from Brookfield to AIG of $905 million.
This swap agreement was part of the remaining derivatives portfolio of AIG Financial Products (“AIGFP”) and carried on AIG’s June 30, 2013 balance sheet at $900 million, and the settlement is not expected to have an impact on AIG’s profit or loss. This swap agreement was subject to previously disclosed litigation which the parties have agreed to dismiss. Additional information regarding this litigation was contained in AIG’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. The proceeds of the settlement are expected to contribute towards the continued wind down of the remaining derivatives portfolio of AIGFP, which is a part of Global Capital Markets.
# # #
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
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American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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FOR IMMEDIATE RELEASE |
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig |Twitter: @AIG_LatestNews| LinkedIn: http://www.linkedin.com/company/aig |
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.