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Johannesburg - London-listed international savings and wealth management group Old Mutual said on Thursday that at close of
business on September 15, the group had exposure of $237m to American International Group (AIG) and related subsidiaries.
In relation to shareholder funds, Old Mutual said it does not hold common equity in AIG and Old Mutual US Life has exposure of $76m to senior debt, $84m to Insurance policies, and $77m to subordinated and hybrid debt.
Old Mutual has no derivative exposure to AIG.
It also said it has minimal reinsurance exposure with AIG.
"Old Mutual continues to monitor developments in the markets closely, with risk management procedures, credit and capital controls continuing to ensure Old Mutual has a strong balance sheet and sound capital position," it said.
- I-Net Bridge