What were the elements of the systemic risk the financial system would have experienced if AIG had been allowed to fail? What was the estimated magnitude of such risk?
Given the number of variables involved, it is difficult to quantify the magnitude of the systemic risk that would have occurred if AIG had failed. However, it is clear that an AIG collapse and the consequent impact on its thousands of counterparties and customers would have jeopardized the stability of the global economy. Today: • AIG has more than 40,000 employees in the U.S. Tens of millions of people in the country are employed by entities that are protected by AIG’s commercial insurance coverage. • Chartis, AIG’s property and casualty insurance group, had gross written premiums of more than $40 billion in 2009, serving more than 40 million customers worldwide. • SunAmerica Financial Group, AIG’s domestic life and retirement services business, is one of the largest life insurance organizations in the U.S. and served more than 16 million customers in 2009. • ILFC, the AIG’s aviation leasing company, has a fleet of approximately 1,000 aircraft. We remain committed to ensuring that our
