AIG authorises additional $2bn share repurchase

American International Group’s (AIG) board of directors has authorised the repurchase of additional shares of AIG common stock with an aggregate purchase price of up to $2 billion.

AIG has repurchased approximately $418 million of shares since the end of the 2014 first quarter.

The aggregate remaining share repurchase authorisation, inclusive of the $2 billion authorisation, is approximately $2.12 billion.

“We are very pleased that the consummation of our sale of International Lease Finance Corporation and our strong capital position have allowed us to authorize this share repurchase, which enables us to return a portion of our sale proceeds directly to our shareholders,” said Robert Miller, chairman of the board of AIG.