General Re/AIG dealings in focus

FRESH details about dealings between insurance giants American International Group (AIG) and General Re are expected to emerge later today.

AIG will finally publish its annual report for 2004 this afternoon. It has already admitted that several transactions between the company and General Re’s Dublin operations were “improper.” New details about the transactions, which inflated AIG’s profits and reserves, will be disclosed in the report.

It has also emerged that a board meeting of an AIG subsidiary, Starr International, which is also under regulatory scrutiny, was held in Dublin last year.