AIG

Pru and AIG in talks on restructuring AIA sale

AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…

Fairholme increases AIG stake

Fairholme Capital Management, the investment firm run by Bruce Berkowitz, has raised its bet on the recovery of AIG by increasing holdings to 25.5 million shares, following the release of the insurance giant’s first quarter results.

AIG reports net income of $1.5bn

AIG has reported net income of $1.5bn for the first quarter of 2010, or $2.16 per diluted common share, compared to a net loss of $4.4bn in the first quarter of 2009.

Chartis CEO mulls options for European HQ

Lex Baugh, president and chief executive of Chartis Europe Holdings, has refused to rule out any insurance centre on the continent as a possible headquarters for the newly established group.

Post in print - 29 April 2010

Post reporter Leigh Jackson provides a quick overview of this week's news including: Ex-Hero boss plans start-up, UK market facing £600m hole with no Quinn, HSBC facing Marsh cull, Chartis CEO scans Europe for new HQ and political parties outline their…

US stock market plunges

The US stock market plunged on Tuesday after downgrades to debt ratings in Greece and Portugal sent stocks falling over 2% at the end of trading.

Chartis CEO scans Europe for possible HQ location

Lex Baugh, president and chief executive of Chartis Europe Holdings, has refused to rule out any insurance centre on the continent as a possible headquarters for the newly established group.

Chartis UK profit falls £241m

Chartis UK full year results for 2009 show the insurer has posted a reduced profit before tax of £83m, down from 2008’s result (excluding restructure) of £324.3m.

Prudential sees Asian listings in May

Prudential has revealed it plans to list in Hong Kong in May, and also announced a secondary listing in Singapore as it prepares to fund its $35.5bn takeover of AIG’s Asian arm, AIA.

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