British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
Troubled insurance giant American International Group's chairman and chief executive has asked its employees to return at least half of the bonuses paid to them recently, after facing sharp criticism from taxpayers and federal officials against the payments.
US insurance giant AIG's plan to give massive bonuses of $165 million to its executives has drawn flak from the White House leaders, with President Barack Obama vowing to pursue legal measures to block these payments.
In an interview to the Financial Times, AIG Chief Executive Officer Robert Benmosche said it would take at least two years for AIG to sell businesses and earn enough profits to repay the government and persuade it to sell its 80 per cent stake.
Punjab Chief Minister Bhagwant Mann on Sunday demanded that Leader of Opposition Partap Singh Bajwa reveal the source of his claim that 50 bombs had reached the state, questioning if he had direct links with Pakistan. Bajwa, who had made the statement in a TV interview, said he cooperated with police but refused to divulge his sources. The police visited Bajwa's residence and questioned him about his statement. Mann also sought a clarification from the Congress party, saying the government will take strict action if Bajwa's statement was meant only to "create panic."
Insurer American International Group will recover $45 million from its employees given as retention payments last year and return the amount to the government, a media report says.
Attributing to people familiar with the matter, The Wall Street Journal said AIG is preparing to pay Kelly several million dollars in severance after she resigned over federal pay curbs.
American International Group is in talks with the US government to speed up an exit plan designed to repay taxpayers in full while enabling the giant insurer to regain independence, says a media report.
The company's recently hired chief executive Robert Benmosche threatened to quit last month reportedly amid frustrations over limitations on pay for top AIG executives.
In an interview to the 'Wall Street Journal', Benmosche said that AIG, in its current form, is too large. "I feel strongly that AIG is too big today -- it is extremely complex to manage and we need to make sure it's more transparent, that it's smaller, and that we can make it on our own."
The United States-based AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance designed to increase home ownership, is exploring several Asian markets, including India, China, Japan and South Korea, to expand its business.
The fund has opened for subscription on May 3, 2007 and will close on May 31, 2007.
American International Group Inc has repaid another $6.9 billion to the US government, using proceeds from the sale of the insurance firm's stake in MetLife.
Benmosche would receive an annual salary of $3 million in cash and $4 million in AIG common stock as per the previous agreement on August 17.
An interview with Insurance Regulatory and Development Authority (Irda) Chairman J Hari Narayan. He is charting the road map for strengthening the regulatory framework and also dealing with the turmoil in the US.
GoAir and Tata-AIG have signed a deal of travel insurance for passengers who book online tickets.
AIG Rail Services Inc, a Chicago business that is part of AIG's financial-services division, was set up around five years ago and provides rail-car leases and equipment financing to shipping companies, railroads and others.
Attributing to people close to the situation, the Financial Times said the failed sale of AIA has strained relationships at the top levels of the US insurer and tensions are growing between Benmosche and Golub.
The US government may next week announce a plan to exit its stake in the insurance giant American International Group Inc, says a media report.
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
The insurer had received nearly $80 billion last year from the US government to tide over the financial turmoil.
Tata AIG Life Insurance Ltd will extend insurance cover to 15,930 employees of Wipro Ltd for a total sum assured of Rs 876 crore (Rs 8.76 billion).
Ambassador Frank G Wisner, the erstwhile US envoy to India, who for years -- as vice-chairman, external affairs for American International Group -- was the face of this global insurance conglomerate--which is now being bailed out by the US government to the tune of $150 billion -- in India and was largely responsible for pushing for New Delhi's opening up of the insurance sector to foreign investors, has quit AIG and joined the top-notch lobbying firm of Patton Boggs, which w
Singh's humility and grounded nature were highlighted in a heartfelt social media memoir by Uttar Pradesh Minister of State for Social Welfare (Independent Charge) Asim Arun.
Battered by the financial meltdown, AIG had received billions of dollars from the US government last year to tide over the turmoil. The leading insurer has also shed assets worldwide to streamline its operations.
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
The AIA Group, which is a leading life insurance player in the Asian region, has a significant presence in India. AIG on Monday said it would accelerate steps to make AIA, an independent entity and also seek an Initial Public Offering on an Asian stock Exchange for the company.
Lehman Brothers, fourth largest investment firm, filed for bankruptcy, after Barclays pulled out of an 11th-hour rescue, becoming the largest financial firm to fail in the global credit crisis, after federal officials refused to help other companies buy the venerable investment bank.
The insurance giant American International Group has replaced Goldman as its main corporate adviser with Citigroup and Bank of America, says a media report.
The Asian life assurance business of AIG, is expected to set a price range for its initial public offering early next week and hopes to strike agreements with big 'cornerstone' investors who could take one-fifth of the shares sold a few days after that, the report said citing sources.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
Air India's use of artificial intelligence (AI) has had a huge impact on the airline major's call centre volumes and the technology integration has reduced costs by 100 times, a senior company executive said on Wednesday. The airline launched its own chatbot AI.g, earlier known as Maharaja, in May 2023. The chatbot has answered approximately two million queries since its launch, handling 93 per cent of customer inquiries without needing to pass them on to call centre agents, said Sathya Ramaswamy, Chief Digital and Technology Officer, Air India.
Observing that working conditions have made doctors and health professionals susceptible to violence, the Supreme Court on Tuesday constituted a 10-member task force to formulate a national protocol for ensuring safety and facilities for them in the wake of the rape and murder of a medic in Kolkata.
Amid the financial crisis scourging the global markets, troubled insurance giant AIG's chief executive salary has been restricted to a nominal $1 for 2008 and 2009, while there would be no pay hikes for its top executives through 2009.
The students, including members of Bangladesh Scouts, were seen controlling the traffic movement at several places, the Dhaka Tribune newspaper reported.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
