Report: AIG to raise $20 billion

American International Group Inc.’s will raise $20 billion to guard against further write-downs, according to published reports.
MAY 20, 2008
American International Group Inc.’s will raise $20 billion to guard against further write-downs, according to published reports. The fund-raising will be accomplished through the sale of securities, some in dollars and others in pounds sterling, said its chief executive, Martin Sullivan. The New York-based insurer has already raised about $13.5 billion through new offerings and a sale of securities on Friday. AIG this month posted a first-quarter loss of nearly $8 billion.

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