October 31, 2008
The tsunami that killed 230,000 people in 2004 was the biggest in the Indian Ocean in some 600 years, and it has lessons for the Pacific Northwest, geologists said. Geologists say the long gap between tsunamis in the Indian Ocean …
October 24, 2008
British life insurer Prudential is considering bidding for more than just the Asian operations of American International Group , its chief executive told the Financial Times on Friday. Prudential, the UK’s second-biggest life insurer, said earlier this week that it …
October 20, 2008
No-one expects a fallen Master of the Universe to say sorry. But academics say an apology — for all the litigation risk it entails — can be the basis of revitalised confidence and trust. With global markets paralysed by the …
October 17, 2008
India’s Tata Sons has been in talks to buy a stake in AIA, a major Asian unit of American International Group, sources close to the matter said. The U.S. insurance giant has been seeking to sell assets after nearly collapsing …
October 16, 2008
Balance sheet pressures for insurance and reinsurance companies globally have become more severe as insurers experience greater unrealized market value losses, and take impairments, on their investment portfolios, says Fitch Ratings. As such, Fitch analysts expects a noteworthy ramp up …
October 10, 2008
The global credit crisis claimed its first Japanese financial institution on Friday and the government looked to prop up smaller banks, as Tokyo shares suffered their biggest rout since a 1987 crash. Government ministers played down the risk of contagion …
October 6, 2008
Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. As part of its effort to pay off a massive U.S. government loan, AIG has decided to unload Alico Japan, AIG Edison Life …
October 6, 2008
Philadelphia Consolidated Holding Corp. reports that Tokio Marine Holdings, Inc. received approval of its proposed acquisition of control of Philadelphia Consolidated from the Pennsylvania Insurance Department. As previously announced on July 23, 2008, Tokio Marine will acquire all outstanding shares …
October 2, 2008
A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen (US$872 million) in additional funds to bolster its financial strength, the company said Tuesday. Alico Japan said Tuesday it received the money …
September 26, 2008
U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations over the White House’s unprecedented bailout …