Football supporters the world over would have heard of AIG, the American International Group as they are sponsors of Manchester United football club. AIG are one of the insurance and financial services world leaders, well they were until September 2008 that is.

With the start of what looked to be a world recession at the start of autumn 2008, many companies hit financial problems and AIG were one of them. This led to them receiving from the Federal Reserve Bank of New York, a two-year, $85 billion secured revolving credit facility to ensure that the company could meet its liquidity needs. A statement at the time from AIG said “AIG is a solid company with over $1 trillion in assets and substantial equity, but it has been recently experiencing serious liquidity issues.”

American International Group, Inc. (AIG), operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through what they call an “extensive worldwide property-casualty and life insurance networks of any insurer.” In addition, AIG companies provide other services such as retirement services, financial services and asset management around the world.

Like many large American companies, AIG have their common stock is listed on the New York Stock Exchange; they are also listed on the stock exchanges of Ireland and Tokyo. However their 2008 problems saw their share price fall to an end of day price of $3.75 compared to a year high of $70.13.