Don’t Rock the Boat

Last year, when AIG lost $99 billion, its property-casualty division, AIU, turned a modest $2 billion profit. This year, AIG is repackaging AIU and a few other entities into an independent operation that it will most likely sell in order to repay the staggering amount of money it owes the American government and its taxpayers. The new spin-off, introduced last month as Chartis, appears to have been engineered as a straightforward, unremarkable brand that has absolutely nothing to do with AIG.Legally speaking, this is what happened, “AIU Holdings… announced the accomplishment of three major milestones toward becoming an independently operated company — the formation… of AIU Holdings… the appointment of Kristian P. Moor as its President and Chief Executive Of