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AIG CEO: Business Exposure Levels Are 'Managable'

Reuters
Wednesday, 5 Dec 2007 | 11:48 AM ET

American International Group Chief Executive Martin Sullivan said Wednesday that exposure levels throughout its businesses, including consumer finance and mortgage insurance, were "manageable."

CNBC.com

Sullivan, speaking at a presentation to investors, said negative results in the housing market would persist, but AIG could hold devalued investments until recovery.

Sullivan said the possibility that its AIG financial products unit would sustain a loss was "close to zero."

He said he expected five-year adjusted earnings per share growth to be 10 percent to 12 percent and return on equity to be 15 percent to 16 percent.

In premarket trading AIG was trading at $57.46, up 3.6 percent from its adjusted close of $55.45 ex-dividend.

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