AIG is selling its foreign life insurance unit to MetLife Inc. for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a massive U.S. government bailout. MetLife said Monday that it would …
Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., will testify Wednesday over a sham transaction involving the insurer and a unit of Warren Buffett’s Berkshire Hathaway Inc, a judge ruled. New York State Supreme Court Justice …
American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through. In a filing with the Securities and Exchange Commission late Friday, AIG said …
Ping An Insurance, China’s No. 2 insurer, said on Friday it was not concerned about a plan by Britain’s Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in China. Ping An does …
A tax question holding up American International Group Inc.’s sale of its foreign life insurance unit to MetLife Inc. is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources familiar with the matter said …
Two AIG units settled federal charges that they discriminated against blacks in providing home loans and will pay at least $7.1 million for restitution and education efforts, according to court documents filed Thursday. The units, AIG Federal Savings Bank and …
American International Group said it would sell its 13.8 percent stake in reinsurer Transatlantic Holdings Inc, worth about $500 million at Thursday’s closing stock price. AIG, nearly 80 percent owned by the U.S. government, said on Friday that its American …
The chief executives of Britain’s Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry’s record M&A deal unveiled earlier this week. Prudential …
A.M. Best Co. has commented that the ratings of American International Group, Inc. and its subsidiaries are “unchanged following the announcement that AIG will sell the AIA Group, Limited to Prudential plc in a deal valued at approximately $35.5 billion. …
Standard & Poor’s Ratings Services has placed its ratings on Prudential PLC and its operating subsidiaries, including the ‘A+’ long-term counterparty credit rating on Prudential, on CreditWatch with negative implications. S&P’s action follows the announcement that Prudential has reached an …
