British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG’s Asian unit. The UK’s Financial Services Authority forced the country’s largest insurer to revise its …
The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on …
AIG is reviewing its dealings with all its counterparties during the financial crisis, including Goldman Sachs Group Inc., to see if it was harmed, Chief Executive Robert Benmosche said Wednesday. The bailed-out insurer will take appropriate action if it finds …
American International Group Inc. Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter said. Benmosche made the comments about the …
American International Group Inc. turned a quarterly profit after a year-ago loss as the bailed-out insurer got a boost from its investments and general insurance operations appeared to stabilize. Chartis, the general insurance business, saw net premiums decline, but AIG …
British insurer Prudential Plc hit a last-minute regulatory snag in its planned $35.5 billion acquisition of AIG’s Asian unit, forcing it to delay the launch of a bumper cash call and fuelling shareholder concerns. Britain’s largest insurer said it was …
Democrats fought to push their Wall Street reform forward in the U.S. Senate on Wednesday, slating more votes despite Republican resistance on a bill that is expected to pass within weeks. The chief negotiators for both parties agreed on Tuesday …
The blow-up of a $1 billion subprime mortgage-linked security called Timberwolf 1 may have provided Goldman Sachs Group with an early clue about trouble to come at insurance giant American International Group . It may be just coincidence, but there …
Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer instead. Prudential’s bid for AIA …
American International Group (AIG) has “remained relatively stable” thanks in great measure to the more than $180 billion in taxpayer assistance the giant insurer has received since March 2008, according to a new government report on the Troubled Asset Relief …
