American International Group, Inc. (AIG) today said that it has closed two previously announced transactions with the Federal Reserve Bank of New York (FRBNY) that have reduced the debt AIG owes the FRBNY by $25 billion in exchange for the …
The New York Insurance Department has signed a cooperation agreement with its counterpart in El Salvador, the latest in a string of similar agreements with insurance regulators in foreign countries. The agreement calls for increased cooperation on insurance-related issues between …
AmTrust, American Capital, GMAC AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty insurance business. AmTrust said it will initially invest approximately $42.5 …
The New York Insurance Department has signed a cooperation agreement with its counterpart in El Salvador, the latest in a string of similar agreements with insurance regulators in foreign countries. The agreement calls for increased cooperation on insurance-related issues between …
American International Group is to sell its Taiwan life insurance unit for $2.15 billion, marking the largest disposal since a U.S. government bailout saved the insurer from collapse last year. The sale of Nan Shan Life on Tuesday was another …
Tropical storm Parma stalled for two days off northwestern Philippines, was slowly heading toward the country’s tobacco-producing region on Tuesday, after killing at least 22 people. Right behind it is Typhoon Melor, a category 4 storm currently south of Okinawa …
Marsh and Munich Re have joined forces to launch a new product guarantee insurance solution designed for the expanding solar panel manufacturing sector in Asia, which Marsh described as the “the first of its kind in the region.” Taiwan based …
Three bidders for AIG’s Nan Shan Life unit have offered less than $1.5 billion, far below the $2 billion the insurer had expected, sources close to the companies said on Friday, throwing the sale into doubt. Friday was the deadline …
American International Group, seeking to raise cash to repay around $180 billion in bail-out loans, has agreed to sell its Hong Kong consumer finance and India-based IT services units. China Construction Bank (CCB) Asia, the country’s second-biggest lender will buy …
Typhoon Morakot wreaked havoc in Taiwan over the weekend, making landfall late on Friday in Taiwan’s Hualien County with sustained winds of 148 km/h (92 mph). “As of Friday, Morakot had generated only 100 mm (4 in) of precipitation in …
