CHARLOTTE, N.C. (AP ) -- A handful of top executives from American International Group spent thousands of dollars during a recent English hunting trip, even as the insurer asked for an additional $37.8 billion loan from the Federal Reserve. That was on top of $85 billion loaned last month.
A company spokesman says the annual event for customers of the AIG property casualty insurance companies in the U.K. and Europe was planned months before the Federal Reserve Bank of New York's loan to the insurance giant.
AIG officials declined to say which AIG executives attended the trip, which reports have said racked up an $86,000 tab.
Last month, and just days after the U.S. government stepped in with the first loan, the company picked up a $440,000 tab for a week-long retreat at a posh California resort for top-performing insurance agents.
Shares of AIG fell more than 9 percent in afternoon trading.
(Copyright 2008 by The Associated Press. All Rights Reserved.)