Jeffery Stone and his wife Janette Diller Stone, one-time operators of a now-defunct New York investment firm called Crescent Fund, are not on any government most wanted list. And they aren’t exactly hiding, either. But the former Greenwich, Connecticut, residents …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Panama City-based ASSA Compania de Seguros, S.A., both with stable outlooks. The ratings reflect ASSA’s “excellent capitalization, favorable operating results and …
The crumbling empire of American International Group Inc. is helping to pave Wall Street with gold. Auctions of the bailed-out insurer’s assets have generated more than half a billion dollars in fees since its near-collapse in September 2008, with every …
Two senior executives from AIG’s Asian operations plan to quit before Prudential’s planned $35.5 billion takeover, according to a source familiar with the matter. Chief Financial Officer Steve Roder and Chief Legal Counsel Peter Cashin plan to leave AIA, AIG’s …
Lloyd’s Chairman, Lord Levene, visited Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, titled – Lloyd’s – A Working Partnership. Lloyd’s bulletin pointed out that “Japan is …
Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential, but Qatar does not …
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 …
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 …
Prudential Plc’s $35.5 billion offer for American International Group Inc.’s Asia business marries the UK insurer’s fast-growth strategy with AIA’s mature business profile — a logical, strategic coupling. The two companies would have an estimated $95 billion in policyholder reserves …
American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout money, sources familiar with the …
