AIG's managers may now get more incentive pay, Chairman Steve Miller said in a Bloomberg Television interview last week. He said the compensation committee met to design the bonus program, and targets may be set within two months.
AIG Chief Executive Officer Robert Benmosche, 68, received less than some peers in 2011. He got about $14 million in total compensation, including a $3 million salary and $10.9 million in stock awards, according to a regulatory filing.
Jay Fishman, the CEO of Travelers Cos., the only insurer in the Dow Jones Industrial Average, received $16.5 million. John Strangfeld, CEO of Prudential Financial Inc., the No. 2 U.S. life insurer, got $23.7 million.
The Treasury is trying to sell its remaining shares in GM in the next 12 to 15 months to end its ownership in the automaker, which received $50 billion in taxpayer money in a bailout that began in 2009.
Ally, the auto lender that received a $17.2 billion rescue, is the non-bankrupt parent of bankrupt Residential Capital LLC. ResCap filed for reorganization in May. An examiner is due to issue a report in April concerning a proposed settlement between Ally and ResCap.
The Congressional Budget Office estimated in October that TARP would ultimately cost taxpayers $24 billion, less than the $109 billion projected in March 2010.
Congress authorized $700 billion for the financial rescue in October 2008, and the bill was signed into law by President George W. Bush. About $418 billion of the $700 billion has been used, and the Treasury has recovered $389 billion.