AIG's surety exposure is approximately $132 million. It is all related to a tax exempt prepay done a couple of years ago. Obviously, we will not be able to collateralize their exposure.
From: Bouillion, James L.
Sent: Monday, December 10, 2001 2:22 PM
To: Bowen Jr., Raymond
Subject: RE: AIG Sureties
There appears to be only one bond provided by AIG, APEA - Nebraska on which AIG holds 50%. Chubb has the other 50%. The exposure is one of Joe Deffner's and has a declining balance. It was originally written for $300,000,000 and is now at approximately $264,000,000. 50% of that number is consistent with AIG's November 21, 2001, demand for collateral of $131,537,271.
From: Bowen Jr., Raymond
Sent: Monday, December 10, 2001 12:02 PM
To: Bouillion, James L.
Subject: AIG Sureties
I need to get a list of our AIG sureties to Ken Lay. Could you help me out? I am sure you have it readily available.
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