Activist investor Icahn raises stake in AIG by 5.2 percent
Reuters
Published May 16, 2016 05:06PM ET
Activist investor Icahn raises stake in AIG by 5.2 percent
(Reuters) - Activist investor Carl Icahn has raised his stake in American International Group Inc (N:AIG) by 5.2 percent, putting him in a better position to pressure the insurer to split into three independent companies.
Icahn now owns 44.4 million shares in AIG, a regulatory filing showed on Monday, bringing his stake in the biggest U.S. commercial insurer by premiums to about 4 percent, according to Thomson Reuters data.
Tensions have been mounting between AIG Chief Executive Peter Hancock and Icahn over the billionaire's suggestion in October that the company should break up - an idea Hancock promptly rebuffed.
Icahn had argued that a split would help AIG rid itself of the regulatory burden of being a systemically important financial institution, which requires higher capital cushions.
In February, the insurer agreed to add Samuel Merksamer, a managing director at Icahn Capital LP, to its board.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.