American International Group has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday. About four consortiums consisting of Chinese investors …
Canadian insurer Manulife Financial Corp and Switzerland’s Ace Ltd are among bidders for New York Life Insurance Co’s Hong Kong, Taiwan and South Korean assets, sources said, in a deal valued between $800 million and $1 billion. Unlisted NY Life …
American International Group is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters on Wednesday. That AIG has set a …
HSBC is in talks to buy up to 70 percent of South Africa’s Nedbank, in a potential $6.8 billion deal that would give Europe’s biggest lender a broader gateway to the fast-growing African continent. HSBC and Anglo-South African insurer Old …
A consortium of leading Chinese companies including Industrial and Commercial Bank of China Ltd, China Life Insurance Co Ltd, plans to bid for a 30 percent stake in American Insurance Group Ltd’s Asian life insurance business, AIA, the 21st Century …
China modified rules to allow insurance companies to invest as much as three times the previous limit in overseas capital markets, part of a broader reform designed to give them more investment options. The move is seen boosting the investment …
Insurer Prudential said its failed bid for AIG’s Asian unit will cost less than first expected, and confirmed that the bungled takeover attempt has killed its appetite for big M&A deals. The bid for Hong Kong-based AIA will cost 377 …
American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion non-cash goodwill impairment …
TPG Capital has completed the acquisition of Vertafore, a provider of software and services to the insurance industry. The deal was first announced on June 10, 2010. TPG purchased the company from Hellman & Friedman and its co-investor JMI Equity …
Standard & Poor’s Ratings Services said today that its ratings on American International Group (AIG; A-/Negative/A-1) and AIG’s insurance subsidiaries (most of which are rated A+/Negative/–) are not affected by the company’s announcement that Robert S. (Steve) Miller has succeeded …
