The U.S. government threw a new $30 billion lifeline to American International Group Inc. Sunday as the embattled insurer prepared to report the biggest quarterly loss in corporate history. AIG’s board approved a new rescue package that also includes more …
The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under discussion between the insurer …
The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice Chairman Donald Kohn is among several …
Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter. Another …
Three potential bidders remain interested in the sale of a large stake in American International Group’s $20 billion Asian life insurance unit, people close to the matter said on Wednesday, as the auction heads into its final week. But hopes …
American International Group Inc., facing massive losses and seeking fresh funds, may be willing to give up control of its prized Asian division, worth about $20 billion, said sources with direct knowledge of the matter. Advisers have signalled the embattled …
By year end, American International Group Inc. expects to have largely wound down a money-losing financial products unit that was the cause of its near-collapse last year, said Gerry Pasciucco, hired three months ago to oversee the closure. “2009 is …
Standard & Poor’s Ratings Services has issued a bulletin indicating that “its ‘3’ Lloyd’s Syndicate Assessment (LSA) on Chaucer – Syndicate 1084 is not affected by the announcement by Chaucer Holdings PLC (Chaucer Holdings; not rated) on January 28 of …
Standard & Poor’s Ratings Services has placed its ‘BBB+’ long-term counterparty credit and insurer financial strength ratings on Ocidental Companhia Portuguesa de Seguros de Vida, S.A., Ocidental Companhia Portuguesa de Seguros, S.A., and Companhia Portuguesa de Seguros de Saúde, S.A.–the …
Marsh announced the appointment of insurance industry veteran Kenneth Kwok as Hong Kong Chairman, reporting to Paul Wilkins, CEO for Greater China, and working along side Marsh Hong Kong CEO, David Jacob. He “will focus on unlocking Marsh’s potential in …
