AIG Insurance Products News / Review

AIG To Book $4.1B Charge To Boost Chartis Reserves – Wall Street Journal

wordpressu5er — Thu, 10 Feb 2011 12:08:44 +0000

AIG To Book $4.1B Charge To Boost Chartis Reserves
Wall Street Journal
AIG also said it signed a letter of agreement with the US Treasury to retain $2 billion of the proceeds from the sale of AIG Star Life Insurance Co. and AIG …
AIG to Post $4.1 Billion Fourth-Quarter Charge to Strengthen ReservesTrading Markets (press release)
American Intnl Group UK Regulatory Announcement: AIG Expects to Record $4.1 …Business Wire (press release)

all 241 news articles »

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AIG To Book $4.1B Charge To Boost Chartis Reserves – Wall Street Journal

Reviewing Key AIG Businesses After Golub Calls for Co to Split – NASDAQ

wordpressu5er — Tue, 08 Feb 2011 01:40:10 +0000

AIG’s ( AIG ) former Chairman, Harvey Golub, recently caused a stir saying that AIG should not exist in the future and should be split up between its life and property & casualty business. He argued that the two business units are more valuable separately than combined together as there is no strategic fit between them. Current Chairman, Steve Miller, told reporters that AIG will keep its two businesses together as they help diversify the other’s risk. AIG is one of the largest insurance companies in the U.S. and competes with MetLife ( MET ), The Hartford ( HIG ) and Prudential ( PRU ).

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AIG’s property & casualty unit is branded as Chartis Inc. while its life insurance unit is called SunAmerica Financial Group. These two sections account for 42% and 9% of AIG’s stock price respectively. We have a price estimate of $30.36 on AIG’s stock which is about 25% below its current market price.

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Former Chairman of AIG, Harvey Golub, was hired in 2009 to help oversee asset sales and simplify a company that leased planes, held derivatives and insured mortgages. He had his differences with current CEO, Mr. Benmosche, over the divestiture of AIG’s biggest non-US life insurance unit, AIA Group Ltd. and was replaced by Steve Miller.

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Reviewing Key AIG Businesses After Golub Calls for Co to Split – NASDAQ

AIA providing Philamlife access to ASEAN region – BusinessWorld Online

wordpressu5er — Mon, 07 Feb 2011 11:40:17 +0000

BEING PART of the AIA Group, Ltd. gives the Philippine American Life and General Insurance Co. (Philamlife), the country’s largest insurer, the platform to exploit the opportunities afforded by the elimination of trade barriers among members of the Association of Southeast Asian Nations (ASEAN) by 2015.

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BusinessWorld in an interview yesterday. “We are also hoping that when trade barriers are removed in 2015, we can use AIA’s presence in different Asian countries as servicing centers for our overseas Filipino workers (OFWs),” Mr. Tan added.

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Philamlife would have been sold as part of parent firm AIG’s fund-raising to pay back the US government that came to AIG’s rescue during the financial crisis.

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AIA providing Philamlife access to ASEAN region – BusinessWorld Online

Edward Jones to Sell SunAmerica Annuities Again – Wall Street Journal

wordpressu5er — Sun, 06 Feb 2011 21:40:03 +0000

An American International Group Inc. business has regained a coveted spot on the sales list of brokerage Edward Jones for a popular retirement product, following a nearly two-year sales suspension.

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The reinstatement of variable-annuity sales for AIG’s Sun America Financial Group by St. Louis-based Edward Jones is a sign of AIG’s continuing rebound from the financial crisis, when it became the recipient of the largest bailout package from the U.S. government. Spokesmen for both companies confirmed the reinstatement this week.

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The decision by Edward Jones, one of SunAmerica’s biggest distribution partners before the crisis, could help SunAmerica’s efforts to boost sales …

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Edward Jones to Sell SunAmerica Annuities Again – Wall Street Journal

Syndicate Bank and Tata AIG tie up for insurance solutions – Siliconindia.com

wordpressu5er — Sun, 06 Feb 2011 07:40:22 +0000

Bangalore: Syndicate Bank has tied up with Tata AIG Life Insurance Company in order to make available an insurance solution to those customers who are covered under the financial inclusion programme across all its branches in the country. According to the agreement, Syndicate Bank has to offer Tata AIG Life’s group insurance product Tata AIG Life Group Term Life at an attractive rate.

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1,493 villages with a population of more than 2,000 have been allotted to the bank under the financial inclusion plan which are to be covered before March 31, 2012, of which 439 villages are in Karnataka. In the first phase 750 villages will be covered before March 31, 2011. The bank has so far opened 316,000 accounts under financial inclusion during this financial year.

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Dedicated micro- insurance products for lower income communities in rural India have been launched by Tata AIG Life which is one of the first life insurance companies in the country to do so.”Under this initiative, the life insurer expects to cover about 500,000 customers in the current financial year” said M Anand, Senior Vice-President and Head – Alternate Channels, Tata AIG Life.

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Syndicate Bank and Tata AIG tie up for insurance solutions – Siliconindia.com

Syndicate Bank ties up with Tata AIG Life – Myiris.com

wordpressu5er — Sat, 05 Feb 2011 17:39:53 +0000

Syndicate Bank ties up with Tata AIG Life
Myiris.com
Under the agreement, Syndicate Bank (Q,N,C,F)* will offer its customers, Tata AIG Life`s group insurance product Tata AIG Life Group Term Life at a very …
Bangalore: Syndicate Bank Customers can Avail Micro Insurance ProductDaijiworld.com

all 3 news articles »

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Syndicate Bank ties up with Tata AIG Life – Myiris.com

What the Financial Crisis Commission Concluded About AIG’s Failure – Insurance Journal

wordpressu5er — Sat, 05 Feb 2011 14:43:49 +0000

The taxpayer bailout of giant American International Group (AIG) became necessary largely because of AIG’s poor risk management of its financial products and because deregulation of over-the-counter derivatives, including credit default swaps, let the company get away with its risky behavior.

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The report also cites AIG’s success in setting up its financial products unit in London and selecting a weak U.S. regulator, the Office of Thrift Supervision, as contributing to the firms’ failure.

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Because of the deregulation, state regulators were barred from regulating AIG’s credit default swaps, even though they were similar to insurance contracts. If that deregulation, which began under the Clinton Administration, had not happened, the commission suggests that events might have been different.

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What the Financial Crisis Commission Concluded About AIG’s Failure – Insurance Journal

Tata AIG Life launches InvestAssure Apex Supreme – Myiris.com

wordpressu5er — Fri, 04 Feb 2011 19:44:35 +0000

Tata AIG Life Insurance Company (Tata AIG Life) has introduced its latest unit linked insurance product, Tata AIG Life Insurance InvestAssure Apex Supreme; with an aim to extend and strengthen its existing portfolio.

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Tata AIG Life Insurance InvestAssure Apex Supreme is a 5 year limited pay plan with policy term of 10 years and comes with the unique benefit of Guaranteed Maturity Unit Price (GMUP) that secures the highest NAV achieved under the product during the 100 reset dates . And whatâs more, it also provides a Guaranteed Maturity Addition that is payable on maturity. The plan offers a death benefit for the financial protection of our loved ones.

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The policyholder can opt for additional protection by choosing from four rider options namely Tata AIG Life Accidental Death Benefit Rider, Tata AIG Life Accidental Death and Dismemberment (long scale) Rider, Tata AIG Life Critical Illness (lump sum) Rider and Tata AIG Life Family Income Benefit Rider that provides Readjustment Income in case of an unforeseen event. This benefit provides an additional 1% of the sum assured every month for a period of 100 months or till maturity, whichever is earlier. In case of an emergency, the policyholder can avail of Partial Withdrawal from the fund to meet his liquidity needs. Partial Withdrawal is available from 5th policy anniversary onwards.

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Tata AIG Life launches InvestAssure Apex Supreme – Myiris.com

Tata AIG Life Insurance launches InvestAssure Apex Supreme – Moneycontrol.com

wordpressu5er — Fri, 04 Feb 2011 05:46:26 +0000

Moneycontrol.com

Tata AIG Life Insurance launches InvestAssure Apex Supreme
Moneycontrol.com
Tata AIG Life Insurance Company Limited (Tata AIG Life) has introduced its latest unit linked insurance product, Tata AIG Life Insurance InvestAssure Apex …

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Tata AIG Life Insurance launches InvestAssure Apex Supreme – Moneycontrol.com

Tata AIG combines health insurance with wellness – MoneyGuru India

wordpressu5er — Thu, 16 Dec 2010 12:49:45 +0000

Tata AIG General Insurance Company has launched a new health insurance product range, called Wellsurance, which combines health insurance with wellness benefits.

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Tata AIG said the unique products will cater to different customer segments. The product called Wellsurance Executive is targetted at young working men; Wellsurance Family is targeted at individuals and their families and Wellsurance Woman is targetted at the âWomen of Todayâ. âHealth insurance is a growing segment which is evolving at a rapid pace wherein the product and service experience will be a key differentiator. Tata AIGâs Wellsurance is a unique health insurance offering that not only provides financial coverage to customers but also encourages them to lead a healthy life. Tata AIG Wellsurance will influence customersâ lifestyles & provide value through its range of product and wellness benefits,â said Gaurav D Garg, CEO and managing director of Tata AIG General Insurance Company.

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Tata AIG combines health insurance with wellness – MoneyGuru India