AIG divulges details of $454mn performance bonuses

Washington, May 6: Answering questions of a lawmaker AIG revealed that it paid about 454 million dollars in 2008 as performance bonuses to employees.

The embattled insurer was criticized for paying out some 165 million dollars in retention bonuses after it received some 180 billion dollar in government bailout aid. After facing criticism some of the retention bonuses were returned to employees.

As per the information given to Representative Elijah Cummings, a Maryland Democrat the performance bonuses were paid out by operating units, across the company's operations in around 120 countries.

Payments ranged from an average of $5,403 to employees of its property-casualty group, to $51,026 on average for those in its asset management group.

OneIndia News