We are embarking on a new era for AIG that will be marked by changes in the way we operate -- including greater responsiveness and transparency -- while preserving the core values that have enabled us to build an unequaled franchise.
A flat yield curve affected our spread business, and transaction volume in domestic life insurance & retirement services and capital markets was lower as a result of regulatory and related issues.
AIG has achieved profitable results even as it sustained losses...in the most costly quarter for catastrophes ever recorded.
We want to grow the organization and improve returns to shareholders, ... If at some stage there is surplus capital - we're not at that stage now - we will return it in the optimal manner.
It is too early to tell how big Isabel will be, but it is certainly going to put a capital strain on many companies.
We had record results in 2004 and we're off to a good start in 2005, ... With regard to any regulatory issues, I would like to get these behind us and soon as possible and move forward.
The challenge is gaining distribution to our customers.
While our military forces have displayed extraordinary precision and restraint in deploying arms -- and apparently in securing the Oil Ministry and oil fields -- they have been nothing short of impotent in failing to attend to the protection of (Iraq's) cultural heritage.
We would like to expand our branch operations on a wholly owned basis. We're in constant dialogue with the insurance regulator, and I hope to visit him very soon in Beijing.
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