RJ and Makay

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The U.S. government may eventually make $15.1 billion in profit as a result of the 2008 bailout of American International Group (AIG), according to a new estimate by the Government Accountability Office (GAO).  The news came amid a Treasury Department announcement Monday that it has agreed to sell $5.8 billion worth of AIG shares, reducing the government’s ownership from 70% to 61%.

Global reinsurer Scor SE (SCR) has reached an agreement with Aegon to acquire the mortality risk reinsurance business of Transamerica Reinsurance. With the exception of retained select blocks of business, Aegon NV (AGN) will divest its global life reinsurance activities.

A series of retrocession agreements from Aegon to Scor Global Life U. S. entities were necessary, as Transamerica is a part of Aegon though not a legal entity.

A couple years ago, most Americans probably thought this day would never come. But it's just about here.

American International Group (AIG) confirmed yesterday that, on Friday, it would finally repay the massive bailout it received in 2008. It'll cover the debt via complete recapitalization involving the issue of 75 million warrants. The warrants will allow current shareholders to buy AIG common stock at $45 per share, a 23% discount from the $58.40 the stock closed at yesterday.