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AIG makes late push toward mediocrity

AIG headquarters in New York City.
Adam Jeffery | CNBC
AIG headquarters in New York City.

American International Group is making a renewed push to improve returns. Chief Executive Peter Hancock on Tuesday unveiled plans to sell businesses, slash costs and return $25 billion to shareholders over the next couple of years. That'd be a lot for most companies under siege from an activist like Carl Icahn, who wants AIG to break into three. So far, though, the push will only take the mega-insurer toward mediocrity.