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American International Group Inc
American International Group Inc. (AIG), the insurer that counts the U.S. as its largest shareholder, agreed to pay $25 million to $30 million to settle a California review into whether the company held funds that should go to beneficiaries.
The deal requires the New York-based insurer to check the Social Security Administration’s Death Master File to determine if policyholders have died, according to a statement today from California Controller John Chiang and Insurance Commissioner Dave Jones.
To contact the reporter on this story: Susanna Pak in New York at Spak10@bloomberg.net
To contact the editor responsible for this story: Dan Kraut at firstname.lastname@example.org