Prudential, which is Britain’s second largest insurer, has today confirmed it is to buy AIA, the Asian arm of US company American International Group (AIG), in a deal worth $35.5 billion (£23.3 billion).
In a stock market statement today, Pru said the deal provided it with the opportunity to create South...
Posted to
Finance
on 03-01-2010
Filed under: All Financial News, deal, Insurance News, Prudential, Company News, finance, rights issue, acquisition, AIG, presence, AIA, Asian arm
Prudential, which is Britain’s second largest insurer, is understood to be in ‘advanced talks’ to acquire AIA, the Asian arm of US company American International Group (AIG).
AIA is a key part of AIG with around 20 million customers and reports say the deal could cost about $30 billion (£19.6 billion...
Posted to
Finance
on 03-01-2010
Filed under: All Financial News, deal, Insurance News, Prudential, Company News, rights issue, AIG, approval, Asia, bailed out, advanced talks, AIA
Speaking about moves that defy “all logic, morality, and sensitivity,” it was a big day for bonus announcements in the financial sector.
First up, everyone’s favorite insurance company that Washington forced them to own—American International Group (AIG). From the Associated Press this morning...
Posted to
Economics
on 02-03-2010
Filed under: Obama Administration, U.S. Government, Bailout, Financial Sector, banking industry, Financial Services, Investment Banks, Wall Street, Barack Obama, Bank of America, american international group, AIG, Wages, Goldman Sachs, retention bonuses, President Obama, banking sector, Wall Street bonuses, Insurance, insurance company, executive compensation, bankers, B of A, retention pay, Lloyd Blankfein, banker bonuses
This is how conspiracies are born. From Reuters’ Matthew Goldstein:
It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission.
In May, the SEC approved...
Posted to
Economics
on 01-12-2010
Filed under: Federal Reserve, U.S. Government, Central Banks, Bailout, Financial Sector, Financial Services, Wall Street, american international group, AIG, Timothy Geithner, New York Fed, banking sector, Insurance, CDO, AIG bailout, collateralized debt obligation, Securities and Exchange Commission, SEC, Maiden Lane III