American International Group Inc., the giant property-casualty insurer under investigation for deceptive accounting practices, is close to reaching a $1.5 billion deal with federal regulators to settle the allegations, The Wall Street Journal and The New York Times reported Monday.
The Journal quoted unnamed “people familiar with the matter” as saying the deal, which could be announced as early as this week, would settle investigations by the Securities and Exchange Commission, New York State Attorney General Eliot Spitzer and the New York State Insurance Department.
