(Bloomberg) — American International Group Inc., the insurer that received a $182.3 billion bailout, said it would weigh reshaping the company to escape the U.S. government risk tag that brings greater regulatory oversight.
"The discussion of the off-ramp certainly means that there is a strategic question to be answered at some point down the road," Chief Executive Officer Peter Hancock said Friday in a conference call with analysts.
AIG is one of four companies designated by a Treasury Department-led panel as a non-bank systemically important financial institution, or SIFI. General Electric Co. announced a plan last month to exit most lending operations as part of a push to make its finance arm the first entity to shed the Federal Reserve's too-big-to fail oversight.
The SIFI tag subjects companies to Fed oversight that could include tougher capital, leverage and liquidity requirements. Final rules haven't yet been written.
Hancock, who became CEO last year, said some of the measures that AIG has already taken to limit risk have been aligned with regulators' goals. The New York-based insurer repaid its bailout in 2012 and has been redeeming high-cost debt while winding down derivative bets.
