Thomas Heise

The AIG sponsored Bermuda Commodities Exchange, which was trying to pioneer the trading of insurance derivatives,, has gone into voluntary liquidation.A legal notice published in Bermuda stated that the Exchange "cannot by reason of its liabilities continue its business".The Bermuda

The Bermuda Commodities Exchange, which suspended trading in the first week of August, appears to have been an expensive failure for the American International Group.AIG is believed to have borne the brunt of the estimated losses of more than $2 million suffered by the experimental insurance derivatives exchange in its two -year life-span.