AIG will pay $300M to settle life-insurance probe
NEW YORK — American International Group will pay more than $300 million to settle dispute with states over life-insurance payments that go unclaimed, according to California’s finance office.
In one agreement over unclaimed property, AIG will pay an estimated $300 million owed on life-insurance claims, according to Jacob Roper, a spokesman for California State Controller’s office. That payment will be divided among 39 states and the District of Columbia.