BUSINESS
11/22/2008 05:12 am ET Updated May 25, 2011

AIG Freezing Severance Payments To Former Execs

Troubled insurer American International Group Inc will freeze payments to a former CEO and officers of the unit that was the main source of its financial problems, New York Attorney General Andrew Cuomo said on Wednesday.

"This is to confirm that AIG has agreed to freeze any payments pursuant to the employment package of its former Chief Executive Officer Martin Sullivan in light of the attorney general's ongoing review," according to the letter from Andrew Cuomo to CEO Edward Liddy, which was reviewed by Reuters.

Read more on Reuters