AIG plans to pay bonuses worth millions of dollars

Beleaguered insurer American International Group (AIG) is considering shelling out millions of dollars in bonuses to several top executives.

The possible move comes after the earlier payment of bonuses invited widespread criticism from different quarters. “AIG is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives after an earlier round of payments four months ago set off a national furore,” The Washington Post reported.

The daily said the troubled insurance giant has been pressing the Federal government to bless the payments in hopes of shielding itself from renewed public outrage.

The request puts the administration’s new compensation czar on the spot by seeking his opinion about bonuses that were promised long before he took his post, it added.

According to the publication, AIG does not actually need the permission of Kenneth R Feinberg, appointed by President Barack Obama appointed last month to oversee the compensation of top executives at seven firms that have received large federal bailouts.