Entries tagged "insurance"

Lincoln Financial hops on TARP train

Lincoln Financial Group along with Hartford Financial Services Group have both accepted TARP.

Finance Layoffs: MassMutual lays off 58

Some staff over at MassMutual Financial Group won't be too happy at this weekend's Memorial Day BBQs.

Video: Debevoise's Potter on insurance M&A

In this episode of Inside The Deal, Debevoise & Plimpton's Potter explains why the insurance industry is consolidating.

Will AIG go down in flames?

AIG (NYSE:AIG) needs more money and is in discussions with the U.S. government to overhaul its $150 billion bailout package prior to releasing dismal fourth-quarter results.

AIG reportedly near disposal of second unit

Beleaguered insurance company American International Group Inc. may have found buyers for two of its Japanese life insurance businesses, Reuters reported Tuesday. Prudential Financial Inc., Manulife Financial Corp. and three other companies are expected to make bids for the two companies, Reuters said, citing people familiar with the matter. Specifically, Prudential unit Gibraltar Life Insurance Co. and Manulife will bid for AIG Edison Life Insurance Co. and AIG Star Life Insurance Co. Reuters said the remaining three bidders are a Japanese insurance company and two non-Japanese firms. ...

Everyone wants to hide under the TARP, except for shareholders

Banks are a hot commodity these days as insurance companies are angling to snatch them up -- no matter how small -- in a desperate effort to access the Treasury Department's Troubled Assets Relief Program. ...

Greenberg fights on, but is the Fed listening?

Maurice "Hank" Greenberg, American International Group Inc.'s former chairman and largest shareholder with a roughly 10.4% stake, continues to cry out for a fair shake for his former company from the Federal Reserve, but the insurer's soon-to-be-largest stakeholder doesn't seem to be listening. ...

Has AIG's asset sale stalled?

Has anyone noticed that American International Group Inc. hasn't sold much of anything yet? It looks like AIG's asset sales could be in trouble due to the economic climate. AIG's restructuring may have stalled because potential buyers are having a hard time financing deals, according to Reuters....

RBS reconsiders insurance disposal

The emergence of CVC Capital Partners Ltd. as one of three bidders reportedly in talks with Royal Bank of Scotland plc for 51% of its insurance arm, originally put up for sale over the summer in an auction declared off-limits to private equity, is causing some annoyance among other buyout firms....

For sale: AIG

It's one of the biggest garage sales in history, or that's what it might feel like to Edward Liddy, the new chairman and CEO of American International Group Inc. Faced with the task to raise $85 billion in the next two years to pay back the Federal Reserve, Liddy is spending the next four weeks sorting through AIG's basement to figure out what assets the company can part with and peg with a price tag. ...

Friends Provident doesn't find market very friendly

Tough credit markets and increased regulatory scrutiny are taking a toll on life insurer Friends Provident plc as it tries to sell off assets. Friends Provident warned that conditions were hampering its sale of wealth manager Lombard International Assurance SA. A £700 million ($1.4 billion) deal with CVC Capital Partners was expected, but has apparently fallen through. ...

Report: AIG holders seek board and management change

A powerful trio of American International Group shareholders including former AIG director Eli Broad, Legg Mason Capital Management fund manager Bill Miller and Shelby Davis, founder of Davis Advisors, are urging for change in the ailing insurance company's board and management....

Top tags

• M&A (1067)
• bankruptcy (543)
• private equity (519)
• politics (396)
• credit crisis (361)
• banks (353)
• Bank of America (349)
• banking (333)
• Citigroup (318)
• layoffs (312)