Berncsp76 6th Gear March 1, 2010 Share March 1, 2010 Heard from the radio when driving to work...lucky never buy any AIA policy...haha. Probably the payouts will be reduced significantly especially those endowment policies...quick decide now bros and sis! The takeover will be announced soon, most probably today. http://www.channelnewsasia.com/stories/afp...1040662/1/.html AIG in US$35b sale of Asian arm to Prudential LONDON: US insurance giant AIG has accepted a deal to sell its Asian arm, AIA, to British insurer Prudential for around US$35 billion, a source close to the deal said Sunday. AIG, which was just recently considering a flotation of its Asian activities, finally agreed to let Prudential buy its Asian arm, said the source. The deal would make Prudential the top non-Chinese global insurer by capitalisation, notably ahead of Allianz and AXA. It is understood the sale will be unveiled in the coming days, perhaps as early as Monday. Tidjane Thiam took up the job of Prudential chief executive in October and had never hidden his desire to expand the business in Asia. He went to New York at the end of last week to persuade AIG's board of directors to sell his company AIA. AIG had been planning an initial public offering for its Asian arm in Hong Kong in April. Prudential's shareholders, for their part, welcomed the company's projects, said the source. The British press at the weekend reported that the group Resolution was trying to strike a deal with Prudential to buy its British businesses. AIG was hard hit by the financial crisis and received more than US$170 billion in a taxpayer bailout. In 2008, the firm tried to sell up to 49 per cent of AIA through an auction process but had to drop the idea after failing to receive suitable offers. - AFP/sc ↡ Advertisement Link to post Share on other sites More sharing options...
Babyt 4th Gear March 1, 2010 Share March 1, 2010 my father policy has reduced 20k less than projected after the crisis... Link to post Share on other sites More sharing options...
Bommii Neutral Newbie March 1, 2010 Share March 1, 2010 pls dont spread rumours, employees may suffer due to takeovers but contracts will still be honoured, i dont think policy value will be halved, MAS have stringent measures not to let this happen. Link to post Share on other sites More sharing options...
Berncsp76 6th Gear March 1, 2010 Author Share March 1, 2010 pls dont spread rumours, employees may suffer due to takeovers but contracts will still be honoured, i dont think policy value will be halved, MAS have stringent measures not to let this happen. We shall see... Link to post Share on other sites More sharing options...
Booboon 1st Gear March 1, 2010 Share March 1, 2010 Non guarantee portion becums zero? ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Food delivery firms take up third-party liability insurance
Food delivery firms take up third-party liability insurance
Advise on car insurance
Advise on car insurance
Writ of summons
Writ of summons
Welcome back (in)FAMOUS AMOS!
Welcome back (in)FAMOUS AMOS!
MAS to allow online nomination of insurance beneficiaries
MAS to allow online nomination of insurance beneficiaries
What does your home insurance cover?
What does your home insurance cover?
Loss of use clause
Loss of use clause
Blackmail
Blackmail