AIG to avoid losing proposition of regulatory battle, CEO says

AIG to avoid losing proposition of regulatory battle, CEO says

June 5, 2015 by Sonali Basak

(Bloomberg) — American International Group Inc. (AIG), which was named a potential risk to the financial system by U.S. regulators, prefers to cooperate with watchdogs rather than to resist oversight, Chief Executive Officer Peter Hancock said.

“For the most part, where we encounter government, whether it’s in Japan, the U.K., at the federal level in the U.S. or at the state level, we see an alignment,” Hancock said Wednesday when asked at a conference if there was too much interference from regulators. “The benefits of having a collaborative relationship with all of the government agencies you operate with, in my view, far outweigh scoring points as to whether more or less government is good.”

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Originally Posted at LifeHealthPro on June 3, 2015 by Sonali Basak.

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