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University of California regents sue AIG over subprime mortgages

University of California regents sue AIG over subprime mortgages

The Regents of the University of California are reportedly suing American International Group, or AIG (AIG), on the grounds that the insurer allegedly hid exposures to subprime mortgages.

The Insurance Journal reported on the lawsuit this week. The publication says the university system ended up taking a hit on investments in mortgage securities backed by subprime loans.

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