'Bonus row unfair, but I shall return it'

SINGAPORE: American International Group (AIG) president for Southeast Asia, Leslie Mouat, said the "abuse" against the insurer's employees amid furore over bonus payments is "unfair," and he would give up his own payout if asked.

"I got a bonus last week; it's the worst bonus I've had in several years," Mouat said in an interview in Singapore. "It's not multimillion dollars like some; it's less than $100,000. If people want it back I'll come up with a check tomorrow. It's no longer about money; this is about people."

Mouat said he is seeking to convince commercial clients that the unit providing property and liability coverage that he oversees in Southeast Asia is separate from the problems at AIG. The firm's business in the region is "still exceptionally profitable" after revenue of $1.3 billion in 2008, he said. "I see as many customers as I possibly can everyday to explain that everything's secure. They've got the power of $40 billion of capital and $26 billion of surplus behind every insurance policy we sell."

Tour buses that take photographs of AIG's offices at Water Street in downtown Manhattan "make me laugh," Mouat said. "175 Water Street is the headquarters of the non-life company; there's nobody from AIG Financial Products there at all."