AIG Board Adopts Tax Asset Protection Plan Amendment

American International Group AIG announced today that its Board of Directors has adopted Amendment No. 1 to AIG's Tax Asset Protection Plan (the Plan). The Plan, which is designed to protect AIG's substantial tax assets, was originally scheduled to expire at the close of business on March 9, 2014 (subject to other earlier termination events as described in the Plan). Amendment No. 1 to the Plan extends the expiration date of the Plan to January 8, 2017 (subject to other earlier termination events as described in the Plan). As of December 31, 2013, AIG had significant U.S. federal net operating loss carryforwards, capital loss carryforwards and foreign tax credits. See full press release